Do You Need a Checking Account to Get a Cash Loan?

 
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Do You Need a Checking Account to Get a Cash Loan?

Do you need a checking account to get a cash loan? Thinking about a cash loan but don’t have a checking account? Not a problem, we have a BETTER SOLUTION for you!

Typically yes, you normally need a checking account in order to get a cash loan. A cash loan is usually referred to as a “payday loan,” which typically means the borrower will have to pay back the loan on their next payday from their job. If the borrower does not pay back the loan in its entirety, they can be hit with astronomical interest fees that make paying back the loan a difficult endeavor. If you are thinking about getting a cash loan, you may want to rethink your options for a moment.

If you don’t have a checking account and are thinking about getting a cash loan, you may want to get an auto title loan instead. With LoanMart, you don’t need a checking account in order to be funded for a loan. LoanMart won’t stick you with ridiculous interest rates and terms to make your life more difficult. We have convenient terms and competitive rates, making LoanMart a great option for you to get the money you need fast, without giving yourself a bunch of problems later.

What is an Auto Title Loan?

If you are going to get an auto title loan instead of a cash loan, you need to know what an auto title loan is. First off, auto title loans go by many different names. It’s important to familiarize yourself with them if you are going to be working with an auto title loan. An auto title loan can also be referred to as:

  • Pink slip loan
  • Car title loan
  • Title loan
  • Auto equity loan
  • Title loans with bad credit
  • Automobile title loan
  • Car equity loan
  • Cash for car title loan
  • Auto collateral loan

An auto title loan is a way to use your qualifying vehicle title as collateral in order to borrow funds. When you get an auto title loan with LoanMart, we won’t take away your car like some other lenders might. Instead, we sign onto your car title as a lienholder, so your car can stay with you for you to drive around every day like you normally do. All you have to do is consistently pay your monthly payments.

How to Get the Best Auto Title Loan with LoanMart

Getting an auto title loan with LoanMart is as easy as 5 simple steps. Here’s how it works:

1. Start the process online or in person

Begin the LoanMart auto title one of several ways. Start online at our homepage, call us at 1-855-422-7412, email us at customerservice@800loanmart.com, or try our convenient live chat feature. From there you will fill out a quick information request which should only take about 5 minutes to complete. We’ll ask you a few questions about your financial history and your car, and you will know if you qualify right away.

2. Receive a pre-approval estimate

After you have successfully completed your information request, a LoanMart title loan agent will contact you with your quote. Your quote is always 100% free and there are no obligations at this point in the process. Discuss your options and some of the details of your loan contract BEFORE you commit. Your qualified LoanMart title loan agent can answer any questions you may have. We have experienced staff available for you 7 days a week with extended hours. Get the help you need WHEN you need it with LoanMart.

3. Gather your documents for funding

After you have discussed the process with your LoanMart title loan agent and you are starting to see that an auto title loan was the right choice for you, it is time to send in some documents to keep the process going. Your agent will ask you to provide a few documents to clarify some of your information. They will notify you of all of the documents you will need, but here are some of the big ones:

  • Government issued photo ID
  • Proof of residence
  • Proof of income
  • Title to your vehicle with your name on it

Note: don’t worry if you cannot find your car title or if your name is not on it, we still may be able to help you.

4. Take pictures of your car

You don’t have to drive your car out to show it to us in person, but we do require a couple pictures of your car, just to verify its condition. To take the best photos of your car, take them outside during the daytime so lighting wont’ be an issue. You can snap a few shots of your car straight from your mobile device and text them to us at 1-818-315-8741.

5. Sign your loan and get your money

After your documents and pictures of your car are turned in it is time to sign your loan contract! It’s at this time when LoanMart will sign onto your vehicle title as the lienholder as well. Then all that’s left is to GET YOUR MONEY! Spend your money how you like, LoanMart will never require you to disclose your spending history when it comes to your loan money. Feel the difference of the LoanMart Advantage and start your title loan journey today!

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