Registration Loan vs. Payday Loan

 
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A registration loan is a way to receive funding for a loan using the registration to your vehicle as collateral. Registration loans are very similar to payday loans. A payday loan is a short-term, high interest loan that is typically expected to be paid back in full at the time of the borrowers next payday, hence the name payday loan.

What makes registration loans and payday loans so similar? The short terms and the high interest rates. Just like payday loans, registration loans are notorious for tacking on high interest rates to extremely short loan terms. These kinds of loans are very tricky because if you do not pay them back in full right away you acquire lots of interest fees, making the loan more and more difficult to pay off. The lenders then try to convince you to take on another loan with the remaining balance, plus the old interest and fees into a new loan with new fees. Because of the risks of these loans, you might want to avoid them.

A car title loan may be a much better option for you. At LoanMart, you can get a car title loan with convenient terms and competitive rates. Ditch the hassles that come with other types of loans and head on over to LoanMart to get the funding you need without all the hidden strings.

Who is LoanMart?

LoanMart is one of the best title loan lenders in the business. Since 2002, we have been a top-notch non-traditional lender with over 150,000 customers2. When we started, we were just a small local business. But with quality service and high-spirited work ethic, we have grown to become a nationwide company with participating stores all over the United States.

Just because LoanMart is in the big leagues now doesn’t mean that we don’t keep in touch with our roots. LoanMart loves to give back to the local community by sponsoring a minor league baseball team in the California state area.

If you would like to check out what our customers think of LoanMart, feel free to scroll through our customer testimonial page to see the personal stories that people have sent to us. A car title loan could help your life in ways you may not be aware of.

How to Get a LoanMart Car Title Loan

The LoanMart car title loan process is easy and streamlined for you. When you get a car title loan from LoanMart, you can receive your funding in as little as one business day3! Here’s how it works:

  1. Call – Click – Visit

There are a couple different ways you can get started on your LoanMart car title loan. If you would like to begin online, you can head to our homepage and click on the large “APPLY NOW” link, or you can try our amazing live-chat feature that is also located on our home page. You can also email us at customerservice@800loanmart.com.

If you prefer not to begin online, you can call us at 1-877-787-4923, text us at 1-818-315-8741, or you can stop into our licensed location to speak with a LoanMart representative in person.

Whichever method you choose to take out a car title loan with us, you will be directed to fill out a quick information request. The whole thing should take about 5 minutes to complete, and you should know if you are approved right away.

  1. Get Approved1

After the successful completion of your information request, your LoanMart car title loan agent will contract you to give you your FREE QUOTE. If you decide to continue with the LoanMart car title loan process, we will ask you for some basic documentation. This will include:

  • Government issued form of photo ID
  • Proof of income
  • Proof of residence
  • Title to your vehicle with your name on it
  • Several photos of your car

Your LoanMart agent will inform you of everything we need. Also, don’t worry if your name is not the only one listed on your vehicle title or if you cannot locate your title, we still may be able to help out.

  1. GET PAID

Once we have received your documents and processed your information it is time to sign your car title loan contract! You can choose to receive your funding through a check, direct deposit, Money Gram, or you can come by our licensed location and receive your money from us in person.

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