Predatory Lending & Car Title Loans

 
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Predatory Lending & Car Title Loans

There is a certain level of risk involved when borrowing money, both the lender and borrower. The terms of the loan are used to assess and lower those risks to ensure that both parties are happy at the end of the transaction.

Car Title Loans as a Safe Way to Borrow Money

At LoanMart, we work hard to be transparent and honest with our customers so they know what to expect from the beginning. We provide a valuable service to our customers that need to turn an investment back into funds for emergencies or unforeseen circumstances. We may be able to help any consumer that owns a car, truck, van or SUV who is in need of emergency cash.

The Signs of Predatory Lending

While we strive to be transparent with our customers, predatory lending practices are common for all types of loans, and consumers should always be alert and aware of the signs when borrowing money. If you are borrowing money, watch for the following signs of predatory lending practices.

  • Upfront money or a large cash deposit required
  • Rapidly fluctuating interest rates
  • Excessive fees
  • Balloon payments
  • Loans that are too large for the situation
  • Additional services that provide no value to the borrower

What are the Benefits of Car Title Loans?

Car Title Loans allow you to access cash you’ve previously invested in your automobile without being forced to sell your car. Repayment terms are set on an individual basis, but we work with you to ensure that you have the income available to repay the Auto Title Loan during the set amount of time.

You may be eligible for a Car Title Loan online through LoanMart even if you have several payments left on your original loan for your automobile. If you are unable to obtain a loan on your own, you may choose to have a co-borrower to ensure that you get the money you need when you need it.

Unlike other lending institutions, we only require you to fill out a simple registration form and provide us with several pieces of documentation to verify your eligibility. We’ll assess the value of your automobile and determine your equity before making a final decision about your Auto Title Loan.

Choose the Best for Car Title Loans

When you need help making your automobile work for you, choose a company with experience and a solid reputation in the industry. The representatives here at LoanMart can answer any questions or concerns you may have about predatory lending.

Call us today at 1-800-LoanMart to begin your application.

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