Common Complaints Against Car Title Loans

 
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Common Complaints Against Car Title Loans

Let’s be honest. We know the type of reputation the title loan industry has, and it isn’t so sparkly and fantastic. LoanMart believes the best way to combat the bad reputation is to show you how different we are. LoanMart was built on customer-business relations, and that means taking the most common complaints that people have about car title loans, and doing something about it! Check out some common complaints people have against car title loans, and how LoanMart strives to be better.

1. “Car title loans have high interest rates.”

Most lenders who grant loans like payday loans typically hit their customers with sky high interest rates. Unfortunately, this trend has given other companies who offer fast funding a bad rep. But not all lenders are out to swindle you out of your hard-earned money. At LoanMart, we will work with you to create a loan contract with an interest rate that fits your unique financial situation.

When you get a car title loan with LoanMart, our competitive rates will allow you to get a loan that’s within your reach. You want your balance to get smaller with time, not bigger! At LoanMart we set you up for success, so you are empowered by your car title loan, not held back by it.

2. “Car title loan companies have such unreliable service.”

At LoanMart we strive to identify and address your specific needs every single day. We have qualified LoanMart representatives available 7 days a week with extended hours. LoanMart knows that life can always throw unexpected circumstances in your path at the most inconvenient of times, like on a Saturday. When you go with LoanMart, you don’t have to worry about what day of the week or what time it is, we are here when you need us.

If you complete your initial information request with LoanMart late at night after our business hours, you will be one of the first people we contact the next morning when we open for business. We work at your pace, so the sooner you get us your information and inform us of your needs, the sooner we get on top of addressing them.

3. “My credit isn’t as good as it used to be, should I bother applying?”

YES! LoanMart has a high approval rate, which means people with all kinds of credit are welcome to apply. When LoanMart receives your information request, we look at OTHER FACTORS such as theequity of your vehicle and your ability to repay your loan rather than solely at your credit score.

Other companies might judge you completely based off of your credit score, but LoanMart isn’t like that. We know that you are more than just a number, that’s why we give opportunities to as many people as we possibly can. LoanMart might check your credit score when you apply for a car title loan, but this is only to make sure that you are not currently declaring bankruptcy or are presently undergoing financial counseling.

4. “Car title loans have a bunch of hidden fees and obligations.”

When you apply for an auto title loan with LoanMart there are NO FEES OR OBLIGATIONS to start. At LoanMart, you decide when to proceed with your car title loan. Upon approval, your LoanMart title loan agent will contact you with a FREE QUOTE. That’s right FREE! Get a sense of what your car title loan will be like before you agree to your contract.

LoanMart is here to answer all of your questions. Call us at 1-877-787-4923 to talk to a LoanMart representative over the phone, try the convenient live chat feature on our homepage, or you can even stop by our licensed location if you would like to talk to someone face-to-face. Get all the facts first and feel comfortable with your car title loan when you are making your decisions.

5. “I have a tight budget, I can’t afford to make a large monthly payment on a car title loan.”

LoanMart knows that people have all different kinds of budgets, that’s why one payment plan can’t work for everybody. When you get your car title loan with LoanMart, we will create a personal payment plan just for you that fits your individual loan contract. With convenient terms ranging from 12-48 months, your monthly payments can be spread out, so you don’t have to worry about coming up with a large sum of money all at once.

LoanMart wants you to feel empowered by your car title loan, that’s why we won’t put unnecessary obstacles in your way such as balloon payment or penalty fees for making a payment early. LoanMart won’t penalize you being responsible and on top of your payment schedule.

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