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.

All loans will be serviced by LoanMart. See State Disclosures for additional information.

1Loan approval is subject to meeting the lenders credit criteria, which may include providing acceptable property as collateral. Actual loan amount, term, and Annual Percentage Rate of the loan that a consumer qualifies for may vary by consumer. Loan proceeds are intended primarily for personal, family and household purposes. Minimum loan amounts vary by state. Consumers need to demonstrate ability to repay the loan.

2Based on consumers who received a loan from LoanMart from February 2002 to October 2018.

3Application processes could take five (5) minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Funding time is based on the time from final approval following receipt and review of all required documents and signing, prior to 2PM PST on a business day.

4To exercise the right to rescind, the consumer(s) must notify the lender in writing by midnight on the third calendar day from obtaining the loan. Within one business day from notice of rescission, the consumer(s) must return any monies received and fees paid on behalf of the consumer(s) by certified funds.

5Lenders recommend and encourage consumers to pay early and often and more in order to avoid additional finance charges.

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