If you’re looking to obtain quick funding with ease, you might wonder if there’s a possible way to do that. It may sound impossible, but did you know that such an option exists? With a title loan serviced by LoanMart, you could use a car’s title in your name as collateral for the cash!³
Just take a few minutes to go online and inquire about one to receive an approval status from a loan agent.³
Suppose a representative from LoanMart agrees to send you funds. In that case, you could receive quick funding in as little as 24 hours!³
Title loans could be a great option to get the financial help you need in a hurry.3 Whether it’s because you need extra cash to pay off something or just to get back on your feet, LoanMart is here to help you.1 Thankfully, borrowers can find a title loan within many states across the United States, including Louisiana! Although borrowers could get a car title loan in person, it could be much more convenient to obtain one online! You wouldn’t have to leave the comfort of your home for the funds you need.
Although everything sounds ideal, you may be wondering if there are other requirements besides a vehicle’s title. To answer your question, there are. But having these qualifications can be as easy as inquiring about a title loan with LoanMart.¹ You can read below for more information or call a representative from LoanMart today at 855-277-4847.
What are the Basic Title Loan Requirements in Louisiana?
Before you start on a title loan, it’s important to know the basic requirements you need to get one¹:
- The Title to a Qualifying Car
- Reliable Income to Support a Title Loan
As previously mentioned, the title to a vehicle is an essential title loan requirement in Louisiana. That is because your title serves as collateral to secure your loan amount. But collateral goes both ways, as it ensures a lender that you will be responsible for meeting your payments. During the loan duration, a lender will place a lien on your title until you have completed the monthly installments. Once you have met your payments, the lender will remove the lien.
You can begin to see why your income is important when reading about repaying a loan. Lenders partly determine your eligibility on your ability to make the loan payments without a problem. Unfortunately, borrowers who don’t have enough money to cover what they owe could be disqualified. This is to protect you and is a decision that is made with your best interest in mind.
Also, keep in mind that the equity in your car is another main component in obtaining an auto title loan. It’s important because it helps loan agents determine the loan amount you would receive, so if you are seeking a significant total, your car must meet the right criteria. Not only that, but you must also have enough income to support the amount you need.
If you do not know the current equity in your vehicle, LoanMart has an online calculator tool available to calculate an estimate and provide you with a quote free of obligation!
You would only need to input the following details to use the calculator tool:
- The Amount of Mileage on the Odometer
- The Year the Vehicle was Released
- The Make, Model, and Style of the Car
- The Current Condition of a Vehicle
- Any Modifications or Alterations Done to the Vehicle
With this information, you can determine if your car has enough qualifying equity to get a title loan serviced by LoanMart. Speak with a loan agent if you have any questions or concerns about your car’s eligibility.
Are There Any Other Car Title Loan Requirements in Louisiana?
Once you go through the inquiry process, borrowers must satisfy additional auto title loan requirements in Louisiana. But, these could also be simple to obtain and provide when you start on a title loan with LoanMart.¹ You would only need to turn in a few documents that loan agents use to verify your information and vehicle ownership. But don’t stress about going out of your way to find the required documents, as they may be with you already!
With LoanMart, you can expect to use the following general documents to qualify for a loan. Contact your local OMV for any different information that is exclusive to Louisiana:
- Proof of Identification: Borrowers must use a government-issued photo identification card. LoanMart accepts documents like a driver’s license, passport, or other certified state identification cards.
- Proof of Income: You are not required to have a traditional 9-5 job to get a title loan serviced by LoanMart.¹ There are various alternative forms of income you can use to validate that, such as pension income, bank statements, pay stubs, Social Security/Supplemental Security Income, a letter of employment from your employer, etc.
- Proof of Address: To prove that you currently reside in Louisiana, you can provide different documents to validate this: credit card statements, utility bills, rental/lease agreements, recent phone bills, mail, or other documentation.
- The Title to the Car: Remember, the vehicle’s title must be in your name to qualify for a car title loan. If you share a name on the title, contact a loan agent to see what you could do to continue. But don’t stress if you have lost or misplaced your title; a loan agent from LoanMart can assist you in finding out how to transfer it to your name or request a replacement.
- References: A representative may ask for you to provide references. These can be professional, personal, or both.
Skip the hassle of going anywhere to send your documents. With loan options like LoanMart, you have the opportunity to submit all your documents online! It only takes a few minutes to send them with a click of a button!³ You can find out if you are preapproved for cash in no time at all.3
Is Age Part of the Auto Title Loan Requirements in Louisiana?
Borrowers that wish to obtain quick funding must follow one of the most basic car title loan requirements in Louisiana.3 With LoanMart, you must be a legal adult to qualify. For most of the United States, a legal adult is 18 years old or older. That’s an age requirement for most lending options available, which can sound good at first, but could be dangerous.
Plenty of loan types could be bad if you’re a young person who wants financial assistance. The problem is that many of them are “unsecured loans” that do not use collateral. An unsecured loan requires a substantial credit history, and many young people do not have one simply because of their age. Without collateral, you could face high-interest rates that could leave you in a cycle of debt; that’s not a good way to start adulthood.
But with loan options like LoanMart, you could easily get cash with your car’s title!1 You would deal with competitive interest rates that could help you in the long run!1 As a young person, you should get a resource that works for your budget, not against it.
Take advantage of a convenient and flexible online approval process with LoanMart!1
What Aren’t Title Loan Requirements in Louisiana?
The title loan requirements in Louisiana are straightforward and could be simple to meet.1 They shouldn’t be complicated when collateral is the primary source for eligibility. What you’ve read so far is what you need to get a car title loan; nothing more, nothing less.1
Although you may find the following qualifications in many lending options, they aren’t necessary for the eligibility process of a title loan.
Here is what you don’t need to have to inquire about online title loans serviced by LoanMart:
- A Perfect Credit Score: A borrower’s credit is an important requirement for many loan types, including personal loans. People that don’t meet specific credit criteria or have a poor score would not qualify for funding. It can be discouraging, but with LoanMart, that is not the main factor in determining your approval status. It’s essential to note that a loan agent will consider your credit history, but it might not affect your chances of getting a title loan.1 LoanMart understands that many financial situations can hurt your credit, which is why title loans were designed with your convenience in mind.1
- Pay to Inquire: Some people are cautious about what they want to invest their money in. If you’re curious about obtaining a title loan, you might want to talk to a representative about what you need and how it works. You shouldn’t have to pay anything for doing that. With LoanMart, inquiring about an auto title loan is completely free. It does not have hidden fees, unlike other loans.5 Loan agents are transparent when they explain the loan process without hiding anything from you. That is why many people trust LoanMart to get the funding they need easily; there are no tricks or hidden fees.5
- Physical Requirements: A lot of lenders out there will ask people to do every step of the application in person. It can be inconvenient when you have limited time to cover your emergencies. In some instances, you might have to visit a lender’s office multiple times within a few days or even weeks. What’s worse is if you also have to pick up your money physically. Thankfully, LoanMart saves you time and money by allowing you to do it online!1 You could finish your inquiry in minutes and receive money in as little as one business day!3
Are There Any Auto Title Loan Requirements in Louisiana to Pay Off a Loan?
Repaying a title loan should also be easy to do. No one wants to struggle with sending money to a loan agent and fall behind on their payments. With loan options like LoanMart, borrowers can choose various payment methods at their convenience.
LoanMart offers the following ways to pay off a loan that could be easy and flexible for what you want:
- Pay Using MoneyGram
- Pay via Mail and Send it to a Payment Center
- Pay Online Using Your Account
- Set Up Automatic Electronic Payments to Make Your Payments for You
- Pay by Phone Using a Credit or Debit Card
As you may have read previously, borrowers could also select how they want to do their loan terms. They can range based on what you can afford or how quickly you want to complete payment:
- You can pay off a title loan through monthly installments that only require a certain amount on that due date.
- Borrowers are free to pay everything in one installment, or sooner than anticipated.
- Typically, a repayment period can be a significant amount of time, making it easy to take your time and pay off a loan’s total amount with the scheduled installments.1
Contact a loan agent if you have any questions about a payment method or finding a flexible loan term.1
Once I Have the Title Loan Requirements in Louisiana, Where Can I Apply for One?
Are you ready to get the quick funding you need to cover your emergencies?3 Start on a car title loan today by having the necessary title loan requirements in Louisiana! Follow these three simple steps to easily obtain quick funding¹:
- Submit a short inquiry form online or call a loan agent at 855-277-4847 to begin the title loan process. Representatives are available six days a week for extended hours to help with anything you need.
- Send the Required Documents to Qualify for a Loan. Remember, you wouldn’t have to leave the comfort of your home to submit your documents. A loan agent can process your information in no time after you send them through LoanMart’s online portal!³
- Collect Your Money!¹ You can choose to get your money through a direct deposit, picked up at any local MoneyGram, or through a mailed check!
You could get approval in no time when you meet the easy requirements for a title loan serviced by LoanMart.¹ Once a loan agent decides to fund you, borrowers could obtain their money in no time!³