The Rules of Online Title Loans

 
You are here: Home » Information » The Rules of Online Title Loans
The Rules of Online Title Loans

Online title loans are a valuable borrowing option for thousands of consumers that need access to funds but don’t want to sell their cars to get the money they need. When a person has invested so much of their hard earned money into a car, we want to make it work.

If a car, truck, van or SUV is less than ten years old and a person currently holds the title, they may be eligible for a Car Title Loan. No bank account is required, and a person does not necessarily need to be employed and the application process is simple.

We want to help people understand the basics of online title loans before signing any paperwork, and are here to answer any questions about a loan.

How Many Loans Can I Have?

People who own more than one automobile may be eligible for more than one Car Title Loan. A separate loan can be taken out for each automobile if the application is approved by LoanMart.

Once the title loan is paid off, most states allows a person to immediately apply for another, although the state of Illinois requires to wait 15 days before applying for a new loan.

How Much Can I Borrow?

The total amount allowed to borrow is based on the rules of the state, the value of the automobile and the amount of equity in the car. Payments are amortized over a period of 12-36 months so it is easy to determine if a person can afford to borrow the total amount they are eligible for.

Are There Restrictions on My Money?

If approved for online title loans, the money can be spent as needed. Whether a medical emergency, family vacation or the need to visit the grocery store, the money is available to do with as needed. We only ask that the loan is repaid as per the terms of the loan documents.

Give Us a Call

Call LoanMart today to speak to an experienced representative that will discuss all borrowing options.

Information