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LoanMart

in Auto Title Loans

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LoanMart

Claimed

in Auto Title Loans

SuperMoney Net Recommendation Score +25% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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3 users don't recommend
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Overview

Where does LoanMart do business?

LoanMart is a direct lender based in Van Nuys, CA. It was founded in 2002 and offers access to auto title loans in 9 states across the USA.

What rates does LoanMart charge?

LoanMart offers auto title loans with a fixed APR that ranges from 30% up to 165%. Interest rates vary by state.

Does LoanMart charge an origination fee?

Yes, LoanMart charges a loan origination fee. Origination fees and requirements vary by state.

Does LoanMart charge a late fee?

Yes, LoanMart charges borrowers a late payment fee.

Does LoanMart charge prepayment fees?

No, LoanMart does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from LoanMart?

Loan amounts start at $1,500 and go up to $7,500.

What is the maximum loan term you can get with LoanMart?

LoanMart offers auto title loans with terms ranging from 12 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto title loan, the more interest you will pay.

What do you need to qualify for a loan with LoanMart?

Applicants with a credit score of at least 300 can apply for a loan via LoanMart. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

To qualify for a loan, you must have a clean title of your vehicle. In other words, you must be the undisputed owner of the vehicle. You can't have any liens or levies from creditors or other parties on your vehicle's title. Don't worry, there are other lenders who will consider borrowers who don't have a clean title.

Only U.S. citizens and permanent residents can apply for a loan.

LoanMart will also consider borrowers who are unemployed.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Proof of citizenship or residence permit
  • Active duty servicemembers and their covered dependents cannot apply for a loan via LoanMart. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.

Note that LoanMart allows borrowers to use a co-signer. This means you could qualify without meeting the eligibility criteria mentioned above. However, you will need a friend or relative who does qualify and is willing to guarantee the loan.

What is the estimated funding time for an auto title loan via LoanMart?

LoanMart will typically provide a credit approval decision in less than an hour and fund the loan within 0 and 1 days.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

  • Headquarters
  •   P.O. Box 8075
    Van Nuys, CA 91409 USA
  •   Visit Site

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 9 states
  • Alabama
  • Arizona
  • California
  • Georgia
  • Illinois
  • Missouri
  • New Mexico
  • South Carolina
  • Utah

Feature Breakdown

No Prepayment Fee  
Minimum Age 18
Credit Score Range 300 - 700
850 300 700
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Vehicle Requirements
  • Clear Title
  • Minimum Equity
  • Vehicle Paid Off
Clean Title Required  
Maximum Mileage 300,000
Military Status
  • Non-Military
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Cosigner
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount $1.5K - $7.5K
Loan Term (Months) 12 - 60
APR (Fixed APR) 30% - 165%

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