How does an auto title loan work?
An auto title loan is a type of secured loan that uses your qualifying vehicle title as collateral. Although LoanMart signs on to your title as lienholder, you’ll receive it back after you’ve completed a series of monthly payments. You could get funded in as little as one business day when you choose LoanMart.³
What if I have bad credit?
LoanMart welcomes ALL credit types to apply for auto title loans in San Gabriel Valley! That’s because unlike traditional bank lenders, we take more than just your credit score into consideration when determining whether or not you’ll qualify.¹
What do I need to qualify?
In order to qualify, a LoanMart agent will ask you for several qualifying documents, which usually include the following: A valid driver’s license or state ID, proof of residence such as a utility bill, proof of income such as a pay stub or bank statement, and the qualifying title to your vehicle.
How much money could I get with an auto title loan?
LoanMart customers in San Gabriel Valley can borrow from $2,510 up to $50,000 if they qualify for an auto title loan.¹ ⁵ The amount depends on the applicant’s ability to make monthly payments, the equity of their vehicle, and several other factors.
How long do I have to pay it back?
You’ll have between 12-48 months to complete a series of regular, affordable monthly payments to LoanMart.
Can I make payments early?
Absolutely—LoanMart does not charge any penalty fees for making early payments, or paying above the minimum requirement for each month.
Do I get to keep driving my car that has an auto title loan against it?
Yes! Since an auto title loan only requires LoanMart to temporarily take possession of the title, you’ll be able to continue driving your vehicle as long as you make regular monthly payments. When all payments are completed, we’ll send you back your vehicle title.
What is the cost of my credit going to be?
Our interest rates vary based on the state of residency, and the terms agreed to. Our annual interest rates vary between 60% and 180%. For a typical loan of $2500 at 90% interest, the average term is 18 months, with a payment of $257.57. The total scheduled interest on this loan would be $2136.26. The interest on a loan may vary based on timing of payments made. Click here for Utah Fee Schedule.