When you’re looking for emergency funds to help cover an unexpected expense, you would probably want to have an option that can conveniently get the money you need without any complications. During your search for this alternative financial resource, you may have found many loan options that sounded fantastic at first, but there are too many hurdles that can hold you back. A lender can often deny you funds based upon your credit history, or lack thereof. You may be wondering if there is anything out there to aid you in your time of need. Thankfully, a title loan serviced by LoanMart is one of the options available that can help you financially. Additionally, you’ll be able to access a loan process that is easy and flexible for what you require.¹
With a title loan, you can find loan terms that are adjustable and convenient for you.1 A loan agent can assist you with making a payment schedule to be up to date with your installments and not miss a payment. Unfortunately, most loan options would require borrowers to meet their loan payments through methods that some may find limiting. With LoanMart, you have the opportunity to choose a payment method that works for what is best for you.
Go online or call a representative from LoanMart at 855-277-4847 today to see the different payment methods available, or read below for more information. Once you find an easy method for you, take advantage of a quick and flexible approval process to get your money.³ You could receive funding in as little as one business day!³
Before You Learn About What Payment Methods Does LoanMart Offer, How Does a Title Loan Work?
It’s essential to learn how a title loan works before doing anything else. By doing that, you can determine if a car title loan is a viable option for you and select which payment method is the best one.
A title loan is a secured loan, which means that a borrower secures their money through collateral. In this case, your vehicle’s title would work as the collateral for the loan, but you would also need to provide proof of income to validate your ability to repay the entire loan amount. That is a great perk compared to many loan options out there that may require qualifications that you may not have.
For example, if you have a poor credit score, you may still be eligible for a title loan, since perfect credit is not an initial requirement for approval.¹ The use of collateral also helps the lender in the approval process, as it provides them with the security that you will complete your payments one way or another.
A lender will place a lien on your car title during the loan duration until you have finished your monthly installments. Once you have met your payments, the lender will remove the lien from the title.
Pay Back Your Loan Responsibly with LoanMart
It’s essential to keep track of your expenses during the loan repayment process. If you fail to finish the repayment process according to the terms of your loan, a lender has the freedom to repossess your vehicle to recoup the money that they lost. A loan agent from LoanMart can help you throughout the entire loan process to ensure you are on top of your payments and assist you with anything you need.
One thing to keep in mind is how essential it is for you to be able to afford a title loan. Your income level will be a critical factor in determining your eligibility for a title loan. Not only does it reassure a lender that you can pay off the loan, but along with your collateral, they can use it to decide what your loan amount is. Fortunately, you don’t need to have a 9-5 job to satisfy this requirement, as you can use different forms of alternative income to prove your ability to repay a loan in full.
LoanMart is here to give you loan terms that can make your loan experience the best it can be.1 If you have questions about which form of income you can use to qualify for a title loan, or if you need any assistance with setting up a favorable payment schedule, an expert from LoanMart is available with just a phone call. Call 855-277-4847 today to learn more!
Borrowers who wish to have a higher loan amount need to:
- Have a Qualifying Amount of Equity in Their Car, and
- The Income To Support It
Equity is used during the title loan approval process by a loan agent to determine your loan amount. Your car must be in the right conditions and meet the proper criteria if you want to obtain a high level of cash through a car title loan. Typically, you can secure more cash through a secured loan than an unsecured loan!
If you are like most first-time borrowers, the chances are that you do not know the current equity available in your vehicle. That is okay, as LoanMart is always looking for your best interest by allowing you to use an online calculator tool to find an estimate with a quote free of obligation! 1
You would only need to input a few details about your car to use the calculator:
- The Make, Model, and Style of Your Vehicle
- The Year a Manufacturer Made Your Vehicle
- The Current Condition of Your Vehicle
- The Current Mileage Usage of Your Vehicle
- Any Modifications or Alterations Done to Your Vehicle
With this information, you can easily find an estimate of your vehicle’s equity and see if you can qualify for an auto title loan.¹
A loan agent may also ask you to take clear pictures of your car to verify your vehicle’s ownership and condition. This is to help you skip an in-person vehicle inspection!
You must take photos of your car’s front, back, and sides, as well as its odometer reading and Vehicle Identification Number(VIN #). Although this part may sound daunting, it can be straightforward.¹ All you have to do is take the pictures from your smartphone and either scan them online or email them instantly to a loan agent from LoanMart.
Go online and take advantage of a quick, easy, and flexible approval process to get your money in no time at all!³ Call a representative from LoanMart today to get your title loan questions answered.
What Types of Electronic Payment Methods Does LoanMart Offer?
There are different ways you can pay with LoanMart that are comfortable and convenient. Suppose you’re the kind of person that likes to complete your transactions quickly and conveniently online. In that case, LoanMart can offer you the opportunity of taking advantage of the latest technological methods available.³ Although you can make payments electronically through your computer or laptop, LoanMart is aware that nowadays, people do many things from their smartphones. You can complete your loan installments online through your smartphone or laptop in no time at all through the online portal.
You can make your transactions through your phone as well by using a credit or debit card. There can be a small fee for this, however. LoanMart has a private and secure system that works to keep your data safe without the risk of fraud.
If your life is hectic and it is challenging to keep track of all your payments amidst everything else you are preoccupied with, you have help available!
LoanMart can take away the hassle of paying online each month by offering automatic payments that can do the hard work for you! This payment method functions by automatically withdrawing your money from your bank account on each due date of your monthly installments. You don’t need to worry about logging on to your account or doing anything else every month with this feature set up on your account. Once you have set up this option, the system automatically makes your transactions until the repayment process is complete.
If you like some more control over your payments, that is okay. You can always log in to your account and make your payments through the online portal that exists for customers of LoanMart. An alternative can be using the LoanMart app on your phone to stay up to date with your payments. You can also view your statements on the app and see how much money you owe during the loan duration. It can be easy and convenient to pop open your phone and do it all through there!¹ You can keep track of what you’ve paid down and how much you have left to pay.
Pay off your title loan in mere minutes by choosing any of these electronic methods that help make your repayment process a simple one.³
What Other Types of Payment Methods Does LoanMart Offer?
There are various payment methods LoanMart offers that accommodate many different lifestyles and needs. If making your monthly installments through electronic means is not something you prefer doing, there is always the chance to find an option that is convenient for what you want.
Here are the other different types of payment methods available with LoanMart:
- Mail the Payment to the Main Center: By using a check or certified funds, you can choose to pay for your monthly payments by sending them through the mail to a participating center or the main center from LoanMart. Keep in mind that it would be best to send the mail with time so it would not count as a missed payment.
- Visit a Participating Location In-Person: There may be a variety of participating stores in your area that you can visit if you prefer doing an in-person transaction. Loan agents are always at your disposal to make your payment experience a favorable one, just like they would with any other payment method. LoanMart has partnered with MoneyGram to make it even more convenient for you with the idea of helping you send the payments without the need to go to a LoanMart location. There is a list of the stores where you can meet your installments, or you can visit LoanMart’s licensed location to pay for your title loan.
A title loan serviced by LoanMart is designed with your comfort in mind. Whichever is the most flexible and accessible method for you, the chances are that there is an option that is good for you. If you have any questions about making a successful loan transaction or any other car title loan-related questions, an expert from LoanMart is here to assist you.
Do I Need a Bank Account to Access the Payment Methods LoanMart Offers?
You may be wondering if a loan agent would ask for you to have a bank account to pay for a title loan serviced by LoanMart. For some borrowers, a bank account is not a necessity in their life, which is okay! You do not need a bank account to apply for a car title loan serviced by LoanMart. One of the many benefits of getting a title loan is that you do not need to have a bank account to repay your loan in a timely manner.
When you decide to complete your monthly installments electronically, that is one of the cases where you may need a bank account. Whether you choose to set up an automatic payment or use your online account to complete them, you need to have a checking account to make that work.
But those are the extent of payment options that require you to have a bank account, as you wouldn’t need to have one for some of the other methods. You can mail your payment to LoanMart, pay via your smartphone through a credit card, or do it in-person, with no bank account required.
Now That You Know What Payment Methods LoanMart Offers, How Can You Apply for a Car Title Loan?
With loan options like LoanMart, you can choose from various payment methods that are convenient for you. If you are searching for the payment methods that LoanMart offers, you have options!
Take advantage of a quick and easy flexible approval process to get the money that you need now!³ It only takes three easy steps to get started¹:
- Inquire about a title loan online by submitting a quick form or call a loan agent today at 855-277-4847. A LoanMart representative is available six days a week for extended hours!
- Submit a few required documents to a loan agent. You can always submit them online with the convenience of scanning and sending them online, with your phone texting clear pictures of your documents, or do them in person! You may already have these documents on hand:
- The Title of Your Vehicle
- Proof of Income
- Proof of Address
- Photo Identification
- Recent Pictures of Your Vehicle
- A Few References
- Get your money1! You can receive your money through a direct deposit, a mailed check, or pick up your funds at a participating money transfer location near you!
Find out how you could qualify for fast cash when you inquire about a title loan with LoanMart!³