How Amortization Applies to Title Loans

 
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How Amortization Applies to Title Loans

Here at LoanMart, we want our customers to have access to valuable borrowing options without hidden fees and balloon payments that can be crushing. We strive to educate our customers on the basics of Online Car Title Loans to ensure that every consumer can make the best decision when borrowing money.

Online Car Title Loans can be available for consumers that own a car, van, SUV or truck that is less than ten years old. In exchange for a car title, we may be able to loan money that is then paid back in a series of monthly payments. Payments are amortized over 12-36 months.

What is Amortization?

Simply put, amortization is the paying off of debt over a period of time in regular installments. Payment amounts are determined before the money is loaned so the borrower can see exactly how much they’ll be paying over the life of the loan.

Some loan companies may seem too good to be true, and may charge hidden fees or balloon payments. Here at LoanMart, we always want to be transparent and honest with our customers so they know what they can expect from us.

What are the Benefits of Amortization?

The most obvious benefit of amortization is the fact that borrowers can see right up front exactly how much it will cost them to borrow money if they are approved. Before any paperwork is signed, an agent can assist in adding up all monthly payments to determine the exact cost of borrowing money.

Get Help From LoanMart

The details of a loan can be confusing and overwhelming to the average consumer. The friendly representatives here at LoanMart are prepared to answer any questions about Online Car Title Loans before starting the application process. We want our customers to feel comfortable about the money being borrowing.

Call us today at LoanMart to start the application for an online title loan. Turn a car into a valuable asset with our help.

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