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Payday vs Car Title Loans

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Payday vs Car Title Loans

Diverse Options for Borrowers

In a struggling economy, many consumers are turning to new and diverse borrowing options when money gets tight. Banks and other lending institutions may have detailed application processes and may require several weeks to acquire money. Here at LoanMart, we've worked with our customers extensively to ensure that our service is up to par and our lending options are flexible enough to help as many consumers as possible.


Car Title Loans from LoanMart

Our Car Title Loans is a fast and simple solution to fit your emergency cash needs that allows you to gain access to cash in a relatively short amount of time by using the value of your paid off automobile as collateral. Once your application is complete, we'll assess the equity in your automobile and your ability to repay the loan before you are approved.

Your repayment terms are set before your money is issued and your payments are amortized over a period of 12-36 months. If you fall behind on your payments, we'll do our best to work with you to avoid having your automobile repossessed. Once your loan has been paid in full, we'll return the title.


Other Loan Options

We are committed to providing our customers with information about all of their borrowing options. Many consumers turn to pay day loans in times of need, and we are here to educate our loyal customers on the process and how it differs from Auto Title Loans.

Pay day loans are often seen as a quick solution to a problem, but the repayment period arrizes faster than anticipated. These are short term loans that help borrowers get through a tight spot, and it's important to ensure that the cash is available to cover the loan.

When you obtain a pay day loan, you may be asked to write a check for the amount you are borrowing plus a fee from the lender. The lender will then cash your check within several weeks when the money is available. If you don't have the money, you may have the option to roll your loan over for another few weeks, or you may be forced to find additional ways to come up with the money. This is quite different from the monthly payment plan that will be set up for you with an Auto Title Loan from LoanMart.


Getting a Title Loan Online is Easy

Car Title Loans from LoanMart allow you to pay back your loan over a longer period of time without sacrificing the quick access to the funds you need. We will work with you regardless of your situation to determine if you are eligible for our valuable service.


Contact Us Today

Our representatives are available seven days a week to help you understand the benefits of Car Title Loans. Call us today at 1-800-LoanMart to begin your application.

 

Gerald Weiss is a Senior Accountant at LoanMart. He has a passion for helping people set and achieve their financial goals. He enjoys writing for the LoanMart Blog to share the inside financial knowledge that’s he’s gained over the years. He helps us fulfill our education mission at LoanMart.


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