How You Can Use Auto Title Loans to Get the Emergency Cash

Car title loans are secured loans that are gaining popularity as a way to generate cash quickly. This is a way for people with any type of credit to use the title from their vehicle for collateral in order to get a loan. With car title loans the main focus in determining your eligibility is whether or not you have the ability to repay the loan along with the amount of equity that your vehicle holds.

The objective of car title loans is to give the borrower an opportunity to free themselves of the hardships that they are encountering without any additional hassles involved in the actual loan process. The loan is simply secured by having a car title that has your name issued and using the money that you have invested in basic maintenance of the car. The process of obtaining the loan is typically a fast, easy, and convenient one where the money is made accessible to you either the same day or within one business day.

Applying for Your Auto Title Loan

The lender initiating the auto title loan will be added to the vehicle’s title when the loan is issued, but you are able to keep driving your car as you make the payments on the loan. In order to begin the application, there are three different options you have to choose from.

1. Online submission using the form available on the lender’s website by way of your smartphone, tablet, or computer.
2. Call the lender directly.
3. Visit a local LoanMart store.

There are no fees for you to apply and the whole application process only takes a couple minutes. You will find out in under an hour if you will be approved and for how much.

The Auto Title Loan Process

After the approval is given, the loan specialists will require that you submit your documentation which will include:

1. The car title for the qualifying car that shows your name as the owner.
2. Your government-issued ID such as a driver’s license with photo.
3. Income proof, e.g. pay stubs, bank account statements) to indicate your ability to repay.
4. Mail that will prove your residence, e.g. utility bills.

Sending these documents is made as easy as possible by allowing you to send photos over your phone, sending a fax or an email.

Once the specialists receive your documents, you will sign off on the loan paperwork and opt for how you would like your money to be paid out whether it be via check, electronically, or by going to one of the LoanMart stores. It is also possible to receive a MoneyGram through Walmart if that is a more convenient option for you.

Why Choose LoanMart

LoanMart is an organization that has grown to a point where it is able to offer its clients options that other lenders are not able to which includes some of the most competitive rates in the industry. They also provide the ability to access your account online so that you can follow your payment progression throughout the lifespan of the loan.

LoanMart’s ultimate goal is to provide you with a sufficient loan with an appropriate amount of money for your particular situation in the fastest possible timeframe, all while ensuring that repayment is obtainable as well as manageable for your convenience.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.