Understanding Title Loans in Los Angeles
If you have a vehicle that is paid off or is close to being paid off, you can use it to apply for a car title loan. Title loans in Los Angeles can be a fast and convenient way to access up to half of your car’s overall value! By using your car’s title as collateral for the loan, you can receive emergency funding to deal with a variety of personal expenses. From tackling home improvement projects to managing rent payments, you have the freedom to use your loan proceeds as you see fit! If you’re eligible for a car title loan serviced by LoanMart, you can access your money in as little as 24 hours.1 3
If you decide to sign your loan agreement and take out a loan against your car, truck, or SUV, a title lender will add a lien to your car’s title after the loan is funded. The lien represents the lender’s legal right to your vehicle while you are paying off your loan, but it will be released once you have finished with your payments.
When you’re ready to apply for a Los Angeles title loan, you can complete a short questionnaire online to instantly find out if you are prequalified for fast funding. If you have any questions about applying for car title loans in Los Angeles, dial 855-422-7412 to speak directly with a LoanMart title loan agent today!1 3
Title Loan Regulations in Los Angeles, California
Applying for car title loans is allowed in California, and there are consumer protection laws in place to ensure that all lenders licensed by the California Department of Financial Protection and Innovation (DFPI) will operate fairly and transparently.
Although these laws are in place to protect residents of Los Angeles, San Diego, Fresno, and any other city in California, it is important to be an informed consumer and thoroughly read the terms and conditions of your loan agreement prior to signing it. You have the right to receive important details about your loan terms through written disclosures before you sign on the dotted line. When reading your loan contract, pay close attention to the interest rate, the amount of time you will have to pay back the loan, and any applicable finance charges.
Why Choose Title Loans in Los Angeles?
Applying for title loans in Los Angeles can be convenient and streamlined! Through title loans serviced by LoanMart, you can choose to begin your application online or over the phone with a loan officer. Besides a flexible application process, you can take advantage of other perks by qualifying for funding, including the following:1
- Access to Fast Cash: When you’re facing a tough financial situation, you need a fast way to get emergency funding. If you are eligible for a Los Angeles title loan serviced by LoanMart, you can access your funds in as little as one business day by choosing direct deposit to receive your loan proceeds. In some cases, eligible borrowers can get their money the same day they are approved!1 3
- Simple Requirements: The requirements for a title loan can be easy to understand. In order to qualify for funding, you must be of legal age, have a title to a qualifying vehicle in your name, and be able to provide proof of your ability to make loan payments. Additionally, you will be asked to submit several documents during your application to verify your information.1
- No Store Visit Required: Apply for the fast funding you need from the comfort of your home today! There’s no store visit required to find out if you are eligible for the money you need to get back on your feet.1
- Convenient Customer Portal: If you are eligible for a title loan in California serviced by LoanMart, you will have access to a convenient online customer portal to make or schedule your payments, check your account balance, and review your upcoming due dates.1
- Bad Credit? No Problem: When you’re facing financial issues, your credit score may be below the national average. Without a strong credit history, it may be tough to receive approval for a traditional bank loan. However, despite having a bad credit score, you can apply for a car title loan in Los Angeles and access emergency funding!1
How to Apply for Los Angeles Title Loans
Ready to apply for a loan against your car? The application process for car title loans in Los Angeles can be fast and flexible! Take a closer look at the three-step process to apply for the emergency cash you need through a title loan serviced by LoanMart:1
Apply Online or Over the Phone
Begin your application by completing a quick prequalification form online, or dial 855-422-7412 to speak with a loan officer. If you are prequalified, you can move on to the next step in your Los Angeles car title loan application.1
Provide Your Paperwork
Typically, the paperwork you will need to obtain loan approval can vary from state to state. As a resident of Los Angeles, you can expect to need the following documents during your loan request:
- Proof of Income and Address
- A Driver’s License or Another Valid, Government-Issued Photo ID
- Recent Pictures of Your Vehicle
- A California Car Title in Your Name
Your documents and vehicle photos can be conveniently uploaded to the customer portal online or sent to a loan officer via email or text message! Choose the submission option that best suits your preferences, but make sure to double check your paperwork for accuracy to ensure that the process is as smooth as possible.
Choose How to Get Your Money and Sign Your Loan Agreement
If you are fully approved for a Los Angeles car title loan, the last step is to choose how to receive your loan proceeds and sign your loan contract. As a qualified borrower, you can choose between accessing your funds via direct deposit or receiving a check in the mail! If you decide to get your money through direct deposit to your bank account, you can get in as little as one business day through a title loan serviced by LoanMart.1 3
FAQ About Auto Title Loans in Los Angeles
Below are some of the most frequently asked questions about car title loans in Los Angeles:1
What Happens if I Can’t Repay My Los Angeles Car Title Loan?
If you are struggling with your title loan payments, your first step should be to reach out to your lender or loan servicer. In most cases, reaching out to the appropriate party prior to defaulting on your loan will allow you to more effectively discuss your options. From title loan refinancing to a loan modification, you may have a few different options to choose from in order to avoid loan default and stay on track with your payments.
Can I Still Use My Car While the Loan is Active?
Yes! One of the many advantages of applying for a vehicle-secured loan is that you can still drive your car while you pay off your loan. As long as you stay on top of your title loan payments, you have the freedom to drive wherever you want during the repayment period.1
How Much Can I Get through a Title Loan in Los Angeles, CA?
Depending on your income and the value of your vehicle, you can access up to $50,000 through a Los Angeles title loan serviced by LoanMart!1
How Can I Avoid Defaulting on a Car Title Loan in Los Angeles?
One of the easiest ways to avoid defaulting on a car title loan is by taking out a loan that you are confident you can afford to repay. If your financial situation changes during the repayment process, you can try to refinance your current title loan or get a second job on the weekends to keep up with your loan payments. If you are struggling to manage your payments, make sure to communicate your financial situation with your lender or loan servicer as soon as possible.
