What is a Title Loan and How Does it Work for Dayton, Ohio?
A title loan serviced by LoanMart is designed for those moments in which you need funds quickly.1 Through a quick and easy loan process, you may get the money you require to solve a variety of financial needs.
Like other title loans, a title loan serviced by LoanMart is secured with the borrower’s vehicle title. Eligibility and loan amount will be based on a person’s ability to repay their loan and the equity in their vehicle.
You may start the easy inquiry process for a title loan serviced by LoanMart by filling out a short form online. Once you get approved, you’ll get your funds! And you may keep and drive your vehicle while making your scheduled monthly payments.
When you find yourself with bad credit, acquiring a loan with reasonable terms can be a challenge. Most traditional loans base approval solely on the applicant’s credit, which can limit the financial options you have. Fortunately for those who have bad credit, there may still be affordable loan options available in Dayton, Ohio.
One of these options is a title loan serviced by LoanMart, which can be more flexible with loan requirements while remaining a great loan option with competitive interest rates1.
Get a Title Loan with Bad Credit in Dayton, Ohio
Even if you find yourself in a financial situation that has left your credit worse for wear, you may still be able to get a good loan through title loans serviced by LoanMart1. A title loan serviced by LoanMart is secured through the use of your car title as collateral. The car title is returned to you upon the full repayment of the loan, and although you are using the title to secure the loan, you may continue driving during the repayment process.
As a result of using collateral to secure the loan, you can potentially receive more flexibility. The use of collateral acts as a security factor for the financer and allows for flexible eligibility requirements. This means that while credit is considered during the approval process, it is not the most important determining factor. The borrower’s car equity and ability to repay are considered far more important.
On top of an easy approval process, there are other benefits available for those who are approved for title loan funding. These benefits can include competitive interest rates, manageable monthly payments, and more. Some residents in Dayton, Ohio were approved for funding the same day!
Frequently Asked Questions about Title Loans in Dayton, Ohio
- What happens with my car when I go with LoanMart Servicing Title Loans in Dayton, OH?
As you keep up with your monthly payments, your car stays with you for you to use for the duration of your title loan.
- How long is the process with LoanMart Servicing Title Loans in Dayton, OH?
Fast! Some people are able to get their money the same day they apply.
- What kinds of interest rates come with LoanMart Servicing Title Loans in Dayton, OH?
Title Loans serviced by LoanMart in Dayton, OH come with competitive industry-wide interest rates.
Benefits of a Title Loan for Residents of Dayton, Ohio
You can’t beat these great benefits of a title loan serviced by LoanMart if you live in Dayton, Ohio1:
Competitive Interest Rates for Residents of Dayton, Ohio
Title loans serviced by LoanMart have interest rates that are highly competitive compared to similar loans in Dayton, Ohio.
Get Money in Your Pocket Quickly in Dayton, Ohio
An Easy Approval Process in Dayton, Ohio
Applying for a title loan serviced by LoanMart is super simple and fast.1
Qualifying for a Title Loan with Bad Credit in Ohio
Even if you are a potential borrower with bad credit in Ohio, qualifying for a title loan serviced by LoanMart may be easy1. To initially qualify for a title loan, you will need to:
- Be 18 Years of Age or Older
- Have a Steady Income
- Own a Vehicle in Your Name
Dayton Residents Should Have the Following Documents
While the process to get approval for an affordable loan through title loans serviced by LoanMart can be easy, there are some documents that are needed during the process, such as:
- A valid government-issued photo ID
- Proof of income (bank statement, paystub, workers compensation statement, etc.)
- Proof of residency (utility bill, voter registration card, etc.)
- Qualifying title to your vehicle in your name
- Photos of the vehicle
What to Use a Title Loan for in Dayton, Ohio
While financial hardship can happen to anyone, many title loan borrowers have been able to regain financial support with a loan.
Some ways that title loan customers have used their funding include:
Relief from Debt
It’s not uncommon for people to have found themselves in debt, whether from medical bills or credit card charges that have added up. Title loan funding has helped to cover these expenses in the past.
When a loved one departs and a funeral is planned, it can be devastating both emotionally and financially. Most families dip into their savings to meet these costs, but it can be more convenient to use funding from a title loan serviced by LoanMart to help ease the financial burden.
Emergency Travel Costs
Traveling can be expensive enough, with so many different expenses, but emergency travel can incur last-minute fees as well. If you need to travel for an emergency, don’t deplete your savings account to handle these costs, consider a title loan serviced by LoanMart instead.
Owning a home can be expensive. New costs appear all the time, such as leaky roofs and window damage. These maintenance and repair costs can quickly add up and using a title loan serviced by LoanMart to cover those expenses can help.
Why Choose Title Loans Serviced by LoanMart When You Have Bad Credit
Even if you find yourself with bad credit in Ohio, title loans serviced by LoanMart could be an option because anyone in need may be able to obtain funding1. Residents of Dayton, Ohio can apply and may be approved within the same day! To get started with a title loan serviced by LoanMart, apply online to see if you qualify or call a loan agent toll-free.
If you are in need of some extra money to get you through the month, obtaining a loan may be a great option in Ohio. When looking for a loan, it’s important to always do your research so you may get the best deal possible. After all, you don’t want to spend any more money than you have to.
How Interest Rates are Determined for Auto Title Loans in Ohio
Interest rates are an important aspect to look out for when making big lending decisions. So, you may be curious as to what the interest rates are for auto title loans in Ohio?
Interest rates for loans are basically the cost that you pay for borrowing money. They are how lenders make a profit in their line of business. Interest rates are determined using a wide variety of methods depending on the type of loan you are attempting to get.
Generally, interest rates do tend to be higher for clients that pose a greater risk, while those who pose less risk tend to receive lower interest rates. Individuals with poor credit tend to be thought of as ‘high risk’ borrowers. For this reason, so many loans may be hard to qualify for if you have less than perfect credit. This may be very frustrating if you feel like your score is not representative of your trustworthiness or ability to repay the loan. This is where title loans serviced by LoanMart come in! This particular kind of loan comes with competitive interest rates regardless of your credit1.
Getting Competitive Rates in Ohio with Title Loans
Car title loans are different from a lot of other kinds of personal loans because they are secured loans. This means that the money is borrowed against collateral. Car title loans use the equity in the borrower’s vehicle as collateral for the loan. This secured aspect of car title loans makes them easier to qualify for among subprime credit individuals because the collateral decreases the level of risk.
Since your credit is less important to the qualifying process with a title loan, you may obtain far more competitive interest rates with title loans serviced with LoanMart!
The Online Process to Get an Auto Title Loan in Ohio
The first thing you need to do when you decide to get an auto title loan is to fill out the simple online inquiry form! The form will ask you just a few basic questions about your identity, the current state of your finances, and the details of your car. This should only take you a few moments and you may apply from any computer, tablet, or smart phone1.
A loan representative will review all your provided information in the initial form and reach out to you to discuss the next steps in the process. They will then request that you send some basic documentation that may help verify all the information and fill in any missing pieces. But you don’t even need to leave your home to get these documents to title loans serviced with LoanMart! All you need to do is scan the documents or take pictures of them and then email over the files.
Here are the documents usually required:
- Government Issued Photo ID
- Title of Ownership to the Car
- Proof of Residence
- Proof of Income
- Photos of the Car (Front, back, sides, odometer and VIN)
Now, all that is left is for title loans serviced with LoanMart to do is review all your paperwork and notify you whether you are approved for a car title loan or not. Once you are approved for a title loan with title loans serviced with LoanMart, you may get your money as fast as the very next business day1. You may pick up your funds at any participating money transfer location near you.
So, what are you waiting for? Apply for an auto title loan with great interest rates today in Ohio1!
Pay Back Your Title Loan at a Participating MoneyGram Location Near Dayton, Ohio!
With title loans serviced by LoanMart, you can pay back your funds at any local MoneyGram location.
Below is a map with a list of MoneyGram stores in and around Dayton, Ohio, along with some useful contact information for your convenience.
If you think a title loan could be the right financial solution for you, then contact LoanMart to see how they can help. Call 855-422-7412 to speak with a representative or fill out the quick 5-minute initial inquiry online to see if you are approved for fast and efficient funding today.1