Car Title Loans are a convenient option for borrowers in need of fast cash. To get a Car Title Loan, a borrower can get money by using the car’s title as collateral and exhibiting the ability to pay back the loan.
With LoanMart’s payment slider, now available on LoanMart.com, a borrower can decide how much to borrow with the total monthly payment displayed up front. Plus, there are no penalties for paying us back early.
In Missouri, Car Title Loan lenders have a set of requirements delegated by the Division of Finance which is state agency regulating Car Title Loans that operate in the state.
- Disclosures need to be clear and concise across all customers
- Loan terms and renewals have limits
- There is a set rate for finance charges that lenders have to follow
Additionally, the Missouri state regulations continue to apply to the ongoing relationship with customers after a loan contract has been signed. Borrowers with late or outstanding payments will be notified before repossession occurs. By making an effort with borrowers to avoid a total default, LoanMart is looking out for the customer’s best interest.
LoanMart prides itself on being transparent for its existing and prospective borrowers — offering all information up front to the borrower before signing any agreement. Potential borrowers may decline the loan at any time prior to the loan being signed and have no obligation if they decide it’s not the right option.