Are Car Title Loans Legal in My State?

 
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Are Car Title Loans Legal in My State?

Car title loans are legal in many states! At LoanMart, we serve customers from Alabama, Arizona, California, Georgia, Illinois, Missouri, New Mexico, South Carolina and Utah.

As long as there is a car is registered in your name in any of the mention states, then you are eligible to apply to a car title loan. Need a car title loan? LoanMart can help1! We are committed to helping you get the financial support you need.

Here are other states that car title loans are legal in:

  • Florida
  • Delaware
  • Idaho
  • Minnesota
  • Montana
  • Nevada
  • Oregon
  • Missouri
  • Tennessee
  • New Hampshire
  • Kentucky
  • Virginia
  • Wisconsin
  • Texas
  • South Dakota

Loan Limitations in Various States

Many states have laws in place that regulate car title loan amounts and terms. At LoanMart, we provide car title loans in compliance with all applicable laws. Our interest rates are competitive. The loan limit in the U.S varies significantly based on the specific state. For instance,

  • In Illinois, the loan limit is $4,000 and payments do not exceed 50% of the borrowers’ gross income.
  • In California, loans over $2,500 are not subject to small-loan limits.
  • In Kansas, car title loans are sold as open–-ended credit lines.
  • In South Carolina, loans exceeding $600 are not subject to small-loan limits.
  • In Louisiana, loans exceeding $600 are not subject to small-loan limits.

In some states, tight restrictions are imposed on car title loans. For example, in Florida, the APR is capped at 30%. If you want to understand more about our loan limits, you can contact a LoanMart expert to learn about state limits of car title loans as well as any accompanying fees in your state.

Why Choose LoanMart

When it comes to car title loans, LoanMart is here to help you understand the state and federal laws that regulate the process. We will help you navigate these regulations and understand how they affect your car title loan before applying. At LoanMart, we make sure that our consumers access relevant information about agencies and laws that control the car title loan process.

  • Our interest rates are competitive to give you the best opportunities to meet unexpected needs.
  • Our payment schedule is reasonable and flexible to help you settle your debt without struggling.
  • Our car title loans and procedures are compliant with state laws and regulations.
  • You don’t have to worry about hidden charges.
  • There are no balloon payments and no prepayment penalties associated with a car title loan from LoanMart.

Our loan processing charges are calculated in compliance with state laws. At LoanMart, we believe that customers have the right to know the terms and conditions of their loan before applying. Doing so can help you make an informed financial decision. It is our primary goal to offer you credible car title loan services at competitive rates.

These 7 Key Features make LoanMart the Best Option

  • LoanMart is one of the largest recognized auto title loan lender that can service loans even if you don’t have a bank account.
  • We provide all types of title loans without any discrimination. Your vehicle could be eligible even if it is a truck, motorcycle or recreational vehicle.
  • At LoanMart, we have a mobile app that helps you manage your loan at any time.
  • We have a short approval processes. We want you to get your money the same week3. We understand that an emergency means you need funding as soon as possible.
  • LoanMart is available in multiple states such as Arizona, California, Alabama, Missouri, New Mexico, Utah, South Carolina, Illinois, and Georgia.
  • LoanMart participating stores are compliant with all title loan regulations laws in your state.
  • Information submitted to LoanMart is protected from loss, alteration, misuse, destruction and unauthorized access or disclosure. Your privacy and security are our top priority.

The Benefits of Applying for a Car Title with LoanMart

  • At LoanMart, the procedures of evaluating your car to determine its equity are very fast. You don’t have to waste time waiting in line or on the phone.
  • We do not discriminate against the model of the cars presented as collateral. We accept all kinds of vehicles, including classic cars.

How Much Can I get in my State?

The amount LoanMart can offer on a car title loan ranges from $1,500 to $50,0001. This can vary based on your specific state laws or regulations. Determining the amount is also related to the equity in your vehicle and your ability to repay the loan. Getting an estimate of the value of your vehicle as well as state standards can help you get an idea of how much your car title loan can be.

How can I pay back the loan?

The title loan can be repaid in monthly installments. The good news is that if you pay your car title loan off early, you will not be charged prepayment penalty fees. We offer competitive interest rates. We have made the payment process easy and convenient. You can pay your car title loan through various methods. Some payment methods include:

  • Visiting a payment office in person
  • MoneyGram
  • Mail payments to a payment center
  • Pay online using the MyAccount tab
  • Pay by phone with a credit card or a check
  • Automatic electronic settlements

How Do I Apply with LoanMart In My State?

At LoanMart, we work hard to make sure the application process for a loan is convenient and easy. You can visit our website and apply online from any place. You can also come to our participating stores in person to fill out the application form. Feel free to make a call to 888-578-5449 and our team will be happy to help you apply to the loan. Visit any of our participating stores that are near you to complete your application. You will be asked to provide a few documents to make sure the information you submitted is authentic. It is that simple! 

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