Frequently Asked Questions

To apply for a title loan, you must be at least 18 years old, have a qualifying vehicle with equity, and be able to provide proof of your ability to repay the loan. You can click here to learn more about the current amount of equity in your car and find out if your vehicle qualifies as collateral for a title loan.¹

Additionally, you will typically need a qualifying car title in your name, proof of income & residence, and a valid government or state-issued photo ID card. You will be asked to provide recent pictures of your car as well.

Yes, it’s possible to get a title loan even if you are still making payments on your car as long as it has a sufficient amount of equity. If your vehicle is still being financed, you may need to complete a payoff authorization form so that your new title loan lender can pay off your existing lender.

No, you do not need a bank account to apply for a title loan. You will only need a bank account if you want to show us proof that you’re self-employed or if you want the money from your loan to be wired to your account. Otherwise, you don’t need to share bank account information with us or have a bank account at all.

Yes! Title loans are collateral-based loans, so your credit history is not the most important part of the application process, although it is a factor that is considered. Instead, the value of your vehicle and your ability to repay the loan will be primarily used to determine your eligibility for funding.¹

Yes. You must have a vehicle title in your name in order to get a title loan. If the title is not currently in your name, you can request a title transfer at your local Department of Motor Vehicles (DMV).

It depends. The amount you can borrow through a title loan is mainly based on the value of your vehicle, your state of residence, and your ability to repay the loan. Typically, you can access up to 50% of your vehicle’s total value if you qualify for a car title loan.¹

Yes, you are allowed to have a co-borrower on your car title loan. Keep in mind that if you add a co-borrower, they will also have to provide the proper documentation during the application.

You don’t need a traditional job to apply for a car title loan! As long as you can provide an alternative source of income during your application, you could qualify for a title loan online. Examples of alternative sources of income include SSI (Supplemental Security Income), retirement or settlement income, or some self-employment.

Yes! A car title loan could potentially be an option for people with unconventional sources of income. So even if you receive disability or retirement income, you could still apply for a title loan serviced by LoanMart!¹

To be eligible for a car title loan, you must have a qualifying amount of positive equity in your car. Your vehicle will have positive equity if it currently has more market value than what you owe on your car loan. If you owe nothing, then the equity in your car is equal to the vehicle’s current market value. Your vehicle’s current value will also affect the amount you could receive through a title loan. Typically, you will be able to obtain anywhere from 25%-50% of the overall value of your car or truck.^{1 3}

The approval process for an auto title loan can be simple and straightforward. You will need to complete a three-step approval process to obtain your emergency funding:¹

1. Submit a Loan Inquiry Online or Over the Phone
2. Send a Few Documents to Verify Your Information
3. Collect Your Money if You Qualify!¹

If you qualify for this loan type, you could receive your funding in as little as 24 hours!^{1 3} Click here to learn more about the approval process for a car title loan.

It depends. If you want to speed the application process along, it is important to gather all of the necessary documents in advance. It can take just a few minutes to fill out the initial loan request, and if you qualify, you could receive instant pre-approval! You could complete the entire loan process within a few hours or less, depending on your ability to provide the necessary documentation. Click here to learn more.^{1 3}

One of the most prominent advantages of a title loan serviced by LoanMart is that you can acquire money in as little as 24 hours if you qualify. However, some qualified applicants could receive funding the same day they apply!^{1 3}

You can contact a title loan agent from LoanMart by calling 855-422-7412. Additionally, you can email a representative at customersupport@800loanmart.com, or send a letter to P.O. Box 8075 Van Nuys, CA 91409.

Typically you do not, unless there is an issue with your vehicle title. Not all situations demand a visit to your local Department of Motor Vehicles. However, there are a few different scenarios that may require you to go to the DMV or third-party authorized DMV locations. For example, if you don’t have a vehicle title in your name, you must request a title transfer at the DMV in order to qualify for a title loan. If you lost or misplaced your title, you can replace it with a duplicate title by filling out an application at the DMV.¹

But again, you don’t need to visit the DMV for every situation. LoanMart can handle some issues internally without you having to go to the DMV. Click here to find out when it’s necessary to visit your local DMV.

Your credit and financial history are reviewed during your title loan application, but they are not the focus of the application process. The primary determining factors for eligibility are your vehicle’s value, verifiable income, and your ability to repay the title loan. As long as you meet the initial requirements for a title loan, you can still qualify for the funds you need for an emergency!¹

If your loan application is already in progress, you can submit your credit application with the other required documents online.

Yes, as long as you are able to provide proof of your current address and other necessary documentation, you may still be able to apply for a title loan, even if your vehicle is registered in another state! In some cases, LoanMart may be able to handle a portion of the registration process for you and / or help you with the title transfer process. Please call us at 855-422-7412 today so we can discuss your available options.¹

If you have a smartphone, you can use the LoanMart Mobile App to submit your information. The app is just as safe as the website, and we do not store your information on our web server computers. LoanMart always encrypts data, which means your information is kept safe and secure.

Additionally, you can apply over the phone with a title loan agent by calling 855-422-7412. Click here for more information on applying without a SSN.