What Potential Applicants Need to Know about Car Insurance and Car Title Loans

 
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What Potential Applicants Need to Know about Car Insurance and Car Title Loans

About LoanMart’s Car Title Loans

We strive to provide quality service to those who are seeking a non-traditional lending service. Our efforts include trying to help those who may be turned away from other providers for a variety of reasons, including having poor credit or being self-employed.

While we want to serve as many people as possible, we also support financial responsibility both for our company and our customers. For those reasons, we do follow some set procedures for determining who qualifies for things like loans on car titles.

We only provide loans on car titles for the amount that the car is actually worth, and we want to make sure our customers have the ability to repay their loans. Customer service is something we value highly, which is why we offer personalized support to provide our customers a check as quickly as possible.

We also understand that for many people, having a car is crucial for day-to-day transportation. When someone works with us to receive loans on car titles, they get to retain possession of the car while we hold the title.

This is why car insurance is very important to us. If a person is interested in borrowing a sum of money in the form of a car title loan, where a car is used as collateral, we want to make sure they remain fully insured because they will be retaining possession and use of that automobile during the term period of the car title loan.

Proof of Insurance

If an applicant can provide proof of the insurance they have on the applicable automobile on hand when they contact us online or apply for a car title loan, the process will be much faster. Everyone should gather paperwork ahead of time or call their insurance provider to see if they can provide proof of coverage.

And potential borrowers shouldn’t worry – if they’re not fully insured, we may still be able to work with them to provide title loans on cars so they can get the money they need. Because we will hold the title of the automobile until the loan is repaid, but the borrower will have the ability to use and drive it as normal, we may just need to add coverage to their insurance policy until the title can be returned.

The bottom line is that we want to help get our customers get the money that they need, but we want all parties involved to be responsible in every way. We’re here to serve our customers to the best of our abilities. If there are any questions about car insurance and title loans on cars, interested people shouldn’t hesitate to reach out to one of our representatives via our convenient online chat.

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