Table of Contents
- How Simple Are Title Loans, Really?
- Can I Apply for a Simple Auto Title Loan with Bad Credit?
- Can I Keep Driving My Car While I Repay My Simple Car Title Loan?
- What Do I Need to Apply for a Simple Title Loan?
- Why Choose Car Title Loans Serviced by LoanMart?
- How Easy is it To Apply for a Simple Auto Title Loan Online?
- Apply for Simple Title Loans Serviced by LoanMart Today!
A car title loan can be the easiest loan to apply for. But there are so many options to choose from online, it can easily get overwhelming! When you need simple title loans, title loans serviced by LoanMart has your back.1
An unexpected expense can set your finances back without warning. A simple car title loan can be the easiest way to get your finances back on track! Title loans serviced by LoanMart are easy and hassle-free. The online approval process can take just minutes to complete!1 Answer a few questions about your vehicle and your income to see if you qualify for a simple title loan today.
How Simple Are Title Loans, Really?
Title loans can seem complicated, but they are simple loans to understand! Like the name would imply, title loans are secured loans that use the title of your vehicle to secure funding. The title of your car is collateral for the loan, which makes the approval process fast and simple!1
Since collateral is used, the approval process can be much more flexible. When you do start the application process, it is as easy as answering a few questions about your vehicle and income!
Collateral makes the loan a secured loan, which can offer the borrower many different benefits:
- More Funding Available: Through a secured loan, your collateral’s value is what your loan amount is based on. Depending on your income, you could potentially receive more through a secured loan than an unsecured loan!1
- Approval Based Upon Value and Income: Since collateral secures the loan, the approval process for a title loan can be much more flexible than an unsecured loan.
- Competitive Interest Rates: Many secured loans like title loans can offer more competitive interest rates to borrowers!
Can I Apply for a Simple Auto Title Loan with Bad Credit?
If you have been searching for other loans for funding, you may have been turned down before if you have less than perfect credit. When you have low credit, a credit check may be the last thing you want! Many traditional lenders require a high credit score for a loan without collateral.
Unlike traditional loans, title loans can be more flexible in the approval process because collateral is used to secure the loan! Borrowers from a variety of credit histories can experience the high approval rates with a simple title loan,-even if they have bad credit!1
During the approval process for a title loan, a lender will focus on:
- Your Ability to Repay the Loan, Your Debt, and Your Income
- The Equity in Your Car Being Used as Collateral
Your loan amount is based upon your income and the equity in your car. Title loans serviced by LoanMart set their borrowers up for success! That’s why your loan amount will be personalized to something you can afford each month, so you don’t bite off more than you can chew. When applying for a loan, your loan agent will look at your debt, your income, and the value and equity of your car. While your credit is still looked at, it is not the most important part of the approval process.
Can I Keep Driving My Car While I Repay My Simple Car Title Loan?
You can keep the keys while you pay your simple title loan. Borrowers that are responsible and make on-time payments each month stay behind the wheel. If you are struggling to make payments because your financial situation changed, our LoanMart family wants to help! As soon as you experience financial hardship, reach out to a loan representative at 855-277-4847. We will work with you to help find a solution and set you up for financial success.
What Do I Need to Apply for a Simple Title Loan?
Title loans will require certain documents to help verify your identity, residence, ownership of the vehicle, and your monthly income.
Luckily, these documents can all be submitted online and can be easily obtained! Here’s what you can expect to need when applying for a title loan:
- Car Title: This document is the most important of the bunch and it must be in your name to prove that you own the vehicle.
- Proof of Address: You can easily show your proof of address by utility bills, paycheck stubs, phone bills, or even recent credit card statements!
- Proof of Income: Your loan amount will be partially based upon your income. You can show a title loan agent your source of income through bank statements, pay stubs, invoices, etc. You do not need a traditional 9-5 to have income! Title loan lenders usually also accept alternative forms of income such as Social Security benefits, self-employment, and retirement benefits.
- Photos of the Car: You can skip the in-person vehicle inspection by sending in photos of your car! Simply take pics of the front, back, sides, VIN and odometer reading of the car.
- Photo ID: LoanMart will need a government-issued or state-issued photo ID. This can be your passport, driver’s license, or even your FOID card!
Why Choose Car Title Loans Serviced by LoanMart?
When you’re looking for simple title loans, you need a lender with experience that cares.
In addition to cash, here are some advantages to working with title loans serviced by LoanMart:
- Simple Inquiry Process: When you need to find simple title loans, think of LoanMart! The approval process can take just minutes, and a representative is more than happy to answer any questions along the way.3 Apply online or over the phone any time, day or night.
- Outstanding Customer Service: Customer service agents are available for extended hours seven days a week! LoanMart knows that you may have questions or need help outside of the normal 9-5 hours. If you need any help with your loan or you are experiencing financial trouble, give an agent a call! Title loan agents are there to set you up for success and give you the best loan experience possible.
- Apply from the Comfort of Your Home: There’s no need to wait in line to get simple title loans. With title loans serviced by LoanMart, you’ll be able to apply from the comfort of your couch!
- No Prepayment Penalties or Any Hidden Fees: Other lenders will often charge you for paying your loan early or sneak in hidden fees. With title loans serviced by LoanMart, what you see is what you get. There are no prepayment penalties or hidden fees.5
- Get Your Cash Fast: If approved, you could get your cash in as little as 24 hours!3
How Easy is it To Apply for a Simple Auto Title Loan Online?
Applying for a title loan online shouldn’t be a hassle! Title loans serviced by LoanMart has streamlined the process to help borrowers with financial emergencies. It can take just a few minutes to do!3
With simple title loans, you can expect a three-step process:
- Go Online or Call: Choose between placing a loan inquiry online, or over the phone with a representative at 855-277-4847. The inquiry form can take just minutes to do online or over the phone! Choose between answering questions about your income and vehicle online, or with a loan representative. Our agents are available for extended hours to take your call!
- Send in Your Documents: After the initial inquiry, a loan agent will reach out to you and help you verify your information. You’ll need to send in a few documents! This can be done online for your convenience. If you need help finding your title or any other car- related documents, LoanMart can help. Our agents work with your local Department of Motor Vehicles to help you get the documents you need!
- Sign Your Contract and Collect Your Funds: After your documents have been submitted for review, the last step is to see if you are approved for a simple title loan! If so, you’ll be able to sign your loan contract and get the cash you need in as little as 24 hours.3 Borrowers can choose to pick up their approved cash in a few ways:
- In a Check in the Mail
- Through Direct Deposit to Their Bank Account
- At Any Local MoneyGram Location
Apply for Simple Title Loans Serviced by LoanMart Today!
Applying for a loan can be simple and hassle-free! Get started with title loans serviced by LoanMart today by using the website, or by calling a loan representative at 855-277-4847. The process to get a title loan has never been easier!