When you have a financial emergency, the last thing you want to do is waste precious time and effort trying to find funding. Then you also must do research to compare a long list of loan rates. Finding the average loan rate should not be your priority in your time of need. While there are a few factors that are necessary to consider beforehand, you should prepare yourself to make the right decision when picking the right non-traditional lender.
Average Title Loan Rates
While the average amount varies for a car title loan, the rates are usually regulated by your state laws. Some states will limit the rates based on how much you borrow, and some will regulate the rates based on the terms, or length of your loan.
Many people look for non-traditional lending for many reasons. They consider them easier to obtain than a bank, because there is less paperwork involved, the approval rates are higher and there are more frequent approvals. When you consider these options, you will find the trade off is going to be how much you are paying for an interest rate.
The factors in deciding how much you will get paid in a car title loan include different elements such as the collateral used, the ability to repay, and the length of the term. Even if you have poor credit, LoanMart boasts one of the highest approval rates for non-traditional lenders, so we know how to get you the monetary assistance you may need.
Loan Mart offers a secured auto title loan with rates from 30%-165% APR (varies based on credit requirements varying heavily by state and subject to meeting our credit criteria)1. For more information on our credit criteria, please give us a call at 1-855-422-7412.
LoanMart does not hold it against you if you have poor credit, since we pride ourselves in helping you through your current financial situation. We want to help you get ahead so our agents will advise you on the best way to borrow a car title loan.
LoanMart Title Loans and Repayment
At LoanMart, we want to set you up for success. We will advise you and make sure you understand the terms of your contract so that you get ahead while repaying your car title loan. We will make sure that you are comfortable with the terms of your car title loan and can make the payments in the shortest amount of time.
- Choose your terms wisely. You can make the title loan terms from 12-48 months, so you have adequate time to repay your loan
- Use LoanMart’s tools and resources. We are here to help you and we have many ways to contact us. You can use our livechat feature, give us a call at 1-855-422-7412, or visit us as any participating store location.
- Contact us in any instance that you cannot make a timely payment. We understand life happens, and we take the time to create reasonable repayment options that work for you
- Remember to borrow only what you need, and try to budget your time and money. For more tips on how to pay off a title loan quickly, visit this page.
Getting a title loan with LoanMart is simple.
- You give us a call at 1-855-422-7412, visit us at any of our participating stores, apply online or use your mobile device to apply with our LoanMart Mobile App
- You can get approved on your title loan in as little as one business day.
- You will be paid with either a check, money transfer or cash, for your convenience, with no restrictions
Tips for Avoiding Debt by Interest Rates
There are different ways to make sure that the interest rate doesn’t hinder your ability to pay back your loan:
- Budget your time and your money. Planning where your money goes in advance helps in being able to plan for future payments. Being able to see where your money is going can also help you build a better financial sate for the future.
- Meeting your monthly payment amounts and overpaying can help you in the long run. Unlike other non-traditional lenders, LoanMart does not use balloon payments, nor would we ever penalize you for paying off your loan early. Making more than the minimum payments allows you to clear your car title sooner
- With all the tools LoanMart offers to help you make payments, there’s a convenient way for you to make payments, wherever you are. You can make payments:
- By Mail
- By calling 1-855-422-7412
- Texting us 1-818-315-8741
- Using the LoanMart Mobile App
- Or by visiting a participating store
- Try living a little beneath your means. Spending less on your daily expenses means you can use more to pay off your loan faster. The faster you settle your car title loan, the sooner you can get back on track. Getting used to a frugal lifestyle can also prepare you for future savings and being in a better financial state.
Getting out of a monetary crisis while being a step ahead sounds hard, but it can be easy with the right lender. Finding the right company that has your best interest in mind isn’t difficult, and the application process is quick. If you have any questions about the process, give us a call at 1-855-422-7412, visit us at any of our participating stores, apply online or use your mobile device to apply with LoanMart. When you are ready to apply, then you can begin the application process whenever you are ready and get cash when you need it.