That's why we are one of the leading
auto title loans lenders with a reputation for customer satisfaction.
This is the difference that makes us the leading
auto title loan lender on the West Coast.
Our safe and ethical business practices have stayed the same since the beginning and have helped us become the most reliable
auto title loan lender.
Well,
auto title loan lenders are no different.
Unlike some other
auto title loan lenders, LoanMart does not put a tracking device on every single car.
This is what makes their payment process more reasonable for borrowers, a policy that isn't adopted in the banking system or even by other
auto title loan lenders.
Auto Title Loan Lenders are not looking to repossess your vehicles, it is only a last case scenario and often, even if you miss a payment they will be more than happy to work with you.
Check out just a few reasons why LoanMart is one of the most successful
auto title loan lenders in the business:
In Illinois,
Auto Title Loan lenders have to be licensed before they can offer loans to prospective borrowers; as well as other provisions.
In order to get the best
auto title loan lender, you need to know all you can about auto title loans.
Not exact matches
The offer might prove too tempting to someone who might otherwise never take out an
auto -
title loan, said the regulator in a bulletin to
lenders: «This business model could also be perceived as a deceptive practice because it appears calculated to bring the consumer into the store with the promise of one product, but later effectively requires the consumer to go to another location to purchase another product.»
The city of Denton's lending ordinance, which passed in March, prohibits payday and
auto -
title lenders from renewing borrowers»
loans more than three times.
Last December, Texas's regulator for payday and
auto -
title lenders announced - without naming TitleMax - that it was «concerned» about the practice of offering a zero percent
loan to customers in those cities.
But that wasn't the only bill that high - cost
lenders had pushed: One to allow
auto -
title loans, also vetoed by the governor, passed with a supermajority in the legislature.
A number of payday
lenders have embraced
auto -
title loans, which are secured by the borrower's car and typically carry annual rates around 300 percent.
Some
lenders, including Ohio Neighborhood Finance, LLC (doing business as Cashland), have a minimum
loan amount for their CSO
auto title loan of $ 1,500.
In fact, 20 percent of borrowers who take out an
auto title loan end up losing their vehicles to their
lender, reported the CFPB.
Do your best to avoid payday
lenders, no credit check personal
loans,
auto title loans, pawn shop
loans and credit card cash advances.
There are many
lenders out there who offer
auto title loans, so it is important to make sure that the one you work with is both reputable and fair.
Short - term
loans, either from payday
lenders or
lenders that demand property such as an
auto title as collateral, can ensnare borrowers in debt traps and lead to property losses while the annual interest rate can soar to over 400 %, according to federal regulators.
These include
auto title lenders who require that one deposits the
auto titles as collateral for the
loan.
FUN FACT: LoanMart is the largest
lender in California and has helped thousands2 obtain
auto title loans, in a handful of states for a variety of reasons.
Auto loans are also a form of collateral for a secured
loan with the
lender holding the
title until the
loan is paid off.
An
auto equity
loan, which is available from traditional
lenders as well as some online
lenders, should not be confused with an
auto title loan, which is typically offered by subprime
lenders to people who have bad credit.
Auto title loans are offered by auto title lenders who offer financing options to lend
Auto title loans are offered by
auto title lenders who offer financing options to lend
auto title lenders who offer financing options to
lenders.
If you have been refused by other
lenders for
loans in the past, but have a car and a source of income, you might want to check if you qualify for an
auto title loan from LoanMart.
Get your
auto title loan from the
lender you can trust.
If you still owed money on your original
auto title loan, your
lender, in this case LoanMart, you will expect you to keep making payments on the
loan even if the car was totaled.
One of the biggest reasons LoanMart has been a reputable alternative
lender since 2002 is the fact that credit score will not be a deciding factor in the
auto title loan process.
The
auto title loan process with LoanMart is generally much speedier than that of a traditional
lender (like a bank or credit union) and some of our competitors.
An
auto title loan removes the
lender's risk, so it is not necessary to check the credit score.
3
Auto Title Loan companies typically do not have pre-payment penalties, but we can not guarantee that every
lender meets this standard.
Applicants who also already have an existing
auto title loan with another
lender are welcome to apply at LoanMart.
Typically the
lender will ask that any assets purchased using the
loan be used as the
loan's collateral (e.g. property deed, or
auto title).
What is interesting about LoanMart is that we can help you refinance an
auto title loan you have already obtained with another
lender.
Many
lenders make it difficult to obtain the finances you need, with factors like credit and income coming into play, and stretch the process out over the course of several weeks; an
Auto Title Loan could greatly benefit you in your time of need in only a short amount of time.
One of LoanMart's biggest features that has made them a reputable
lender across the country is that they do not take credit history into account when making a final decision on your
auto title loan.
An
auto title loan is based on the equity of your Chrysler 300 and your ability to repay the
loan, where LoanMart will take over the
title to the vehicle as the lien holder for the duration of your payment period; we do this so that you may have free reign of your car, unlike other
lenders that want to impound your car!
What makes an
auto title loan great is that, unlike a traditional
lender whose process to gain approval could last weeks or even months, LoanMart's application and approval process has been expedited.
This dilemma causes people to seek out the credit sources that are available to them, which frequently include pawn shops, payday
lenders,
auto -
title loans, lower - dollar installment
loans, or other short - term consumer credit products.
In addition, to better serve the needs of our customers, SonicCash has also partnered with
lenders that offer other types of
loan products, such as: installment
loans, lines of credit,
title loans, and
auto equity
loans.
An
auto title loan is secured when a
lender places their name (known as a lien) on your car
title as collateral.
Some
Lenders may charge other initial fees an
auto title loan and not disclose those fees to the borrowers, causing an increase in the overall amount of the
loan.
In addition, having a
loan active with another company providing
auto title loans should not deter the
lender from giving you competitive rates.
Avoid
lenders of
auto title loans who don't work with you to get the best strategy for your repayment terms.
Auto Title Loans don't take your credit rating into account as much as most other
lenders in the
loan industry do.
An
auto title loan is a
loan that is secured with your drivable motor vehicle, in which your
lender becomes the lien holder of the
title.
The Consumer Financial Protection Bureau said that 20 % of the
auto title loan borrowers have their car or truck seized by the
lender for failure to repay the debt.
When you finance a car, or when you get an
auto title loan, the
lender places a lien on the official
title of your car as a guarantee that you'll pay back a
loan.
Auto title loans allow you to put up your vehicle
title, and payday
lenders take future income — hence the term «payday» — and sometimes even small home appliances as collateral.