LoanMart Title LoansClaimed
in Auto Title Loans from LoanMart
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LoanMart Title Loans Review
LoanMart Title Loans is offered by LoanMart, a direct lender founded in 2002 and based in Van Nuys, CA. LoanMart Title Loans is offered in 9 states across the USA.
What rates does LoanMart Title Loans charge?
LoanMart Title Loans offers auto title loans with a fixed APR that ranges from 30% up to 165%. Interest rates vary by state.
Does LoanMart Title Loans charge an origination fee?
Yes, LoanMart Title Loans charges a loan origination fee. Origination fees and requirements vary by state.
Does LoanMart Title Loans charge a late fee?
Yes, LoanMart Title Loans charges borrowers a late payment fee.
Does LoanMart Title Loans charge prepayment fees?
No, LoanMart Title Loans 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 Title Loans?
Loan amounts start at $1,500 and go up to $7,500.
What is the maximum loan term you can get with LoanMart Title Loans?
LoanMart Title Loans 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 LoanMart Title Loans?
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.
Applicants with a credit score of at least 300 and up to 700 are eligible for LoanMart Title Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
LoanMart Title Loans does not have or does not disclose a minimum annual income eligibility requirement. LoanMart Title Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the LoanMart Title Loans product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Proof of citizenship or residence permit
What is the estimated funding time for an auto title loan via LoanMart Title Loans?
LoanMart Title Loans will typically provide a credit approval decision in less than an hour and fund the loan within 0 and 1 business days.
- New Mexico
- South Carolina
|No Prepayment Fee|
|Clean Title Required|
|Employment Statuses Considered||
|Immigration Status Considered||
|Joint Loan Applications Accepted||
|Supported Income Types||
|Verification Documents Required||
|Credit Score Range||
300 - 700
|Loan Term||12 - 60 months|
|Loan Amount||$1.5K - $7.5K|
|APR (Fixed APR)||30% - 165%|