LoanMart Reports No Discernable Impact from End of Student Loan Pause on Title Loan Demand and Payment Performance

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1732744869

Easy and seamless. Thank you. Saved my butt

1731452248

Sui made the process of receiving a loan simple and hassle-free. Moreover, she handled the project from beginning to end. Great job Sui! The industry needs more professionals like you.

jim januszewski

1730119769

With all the companies out there promising loans to you that are scams and frauds this company is legit. Things went to smoothly as expected thank you

1726457996

Sam and Natalie were amazing, as well as everyone I spoke to. The process from start to finish, tho a few steps; was quite simple. The speed of start to deposit was remarkable. If you got involved with predatory lenders of 125% to 225% and one 439%...you can read the fine print here or ask the team any question and they were forthcoming and I feel very honest in their answers. The interest rate with them was higher than expected but I'm still saving a ton from the other lenders and with 800LoanMart they have a reduction in monthly payments as you pay on time, plus there is no penalty for paying more than or early pay-off. Consider all choices and read the fine print of all "lenders" you are considering. For my needs and peace of mind: 800LoanMart was my answer.

1725993006

Thank you IvanI really happy to worked with you

1725813930

Always kind courteous and efficient....I love working with the team here.

1724358159

I was at the Spanish Town location and the staff there dealt with the customer very well. Customers are greeted upon entry.

Melanie Dunn Contreras

1721141565

It was a great experience dealing with Loanmart. It was super quick and very easy. Cesar was there to help me every step of the way and was always ready to answer all my questions that I had. Money was funded to account within 1 day. Thank you so much Loanmart.

1721000013

Sam was extremely helpful in helping me secure a loan. I really appreciate ALL he did for me.

1718492450

The interest rate is high as heck but I got the money very quickly. Worth it if you’re desperate for funds!

Vitaly Postiglione

1718139106

Great service , fast and easy to apply! Thank you very much ! Kiara did an amazing job and great customer service! Thank you very much!

1717878060

Loan Mart was a great experience. They made sure that I understood my options well before letting me make a decision on my loan and made sure several times that I understood the terms and everything. Would definitely recommend them.

1716498408

Great experience with Ms.Sui she was helpful.Very informative and was always available and process was smooth

1716065891

Thank you Valeria for aiding me on my application. I appreciate the help. I would recommend you guys to my friends and family.

1715465448

They are the best!!!!

1711902779

This is my experience with Loan Mart:I was recently diagnosed with heart failure, Chamber failure, PVC's, LVH & stage 3 kidney disease. Needless to say I can not work hardly at all. They have bent over backwards to help me. Not once, but twice.They didn't have to help me, but they've helped relieve me of the stress & worry about paying my loan. I can not say thank you enough. They are truly wonderful individuals. I would recommend them to anyone & everyone.

1711816023

Excellent customer service. Very professional, works with all the details to assist clients. My experience was excellent.

1711139723

They explained the process thoroughly. They made sure that I understood what I needed to complete the process. Samuel was a great help.

Kathleen Colyer

1710450701

Staff was very helpful and did a great job getting me a loan quickly

1710404235

Always a pleasure to do business with.

1710212080

it was a pleasure to work with Nam and his team. He was knowledgeable and followed the process with me then entire way. I am thankful for his expertise and kindness.

1709687019

Pleasant, though and fast! Ivan was great!!

1709064495

I have a title loan with Loan Mart and I needed to change my due date. They were very professional and understood completely why I needed to make the change. When I got the title loan it was just as easy and professional. I know people want to do this as a last resort, but if you have to do it, don't be afraid to reach out to them they will treat you with respect and professionalism.

Virginia Del Monte

1708109824

I was very pleased with the service and professionalism by all the agents. They guided me through the process and carefully explained everything. Enjoyed working with them.

1708106723

From start to finish the loan process was extremely easy,and all of the associates I spoke to were very friendly, professional and helpful. You won't be sorry you use this company when the time comes that you need a loan!

1705113210

The Team did an awesome job helping me out. They’re very fast and professional.Thank you so much once again.

1704561323

Good source for quick cash. Very professional service members. Their website to manage your account is one of the best I've used.

Tanjily Nicholson

1703883927

Great Job!👍🏾👍🏾👍🏾

Thomas Stratton

1703424094

Very Good experience. Very professional.

1702263468

I was impressed with how professional and helpful everyone was. The only issue I had was when I was suppose to get the email get the funds from Walmart I never received it. I had to call back to have one of the associates send it to me in an email again.

1701918493

My experience with LoanMart was fabulous. They helped me through the whole process, making sure I had everything I needed. The application was quick and easy and I got my payment with no problems. Thank you guys so much. I will be coming back again if I ever have to get a Title Loan again. 🤩 I give them a billion ⭐️⭐️⭐️

Cyndey Rhodes (Cyndey)

1701381599

Probably one of the fastest and easiest process I've ever encountered. Recommend highlyThese people are absolutely amazing to work with

1701018433

They did great very fast

stephen Hedstrom

1699447825

Very helpful

Vanessa Hartley

1699128904

Whole process was pretty simple and quick. Was approved for more than necessary. Whole process took about 3 hours.

Key “kissy” j

1698986683

Special thank you Ricardo and Natalie and to all of LoanMart team that I had the pleasure to meet. Everything about my experience with LoanMart was great. I would recommend this company anytime as my loan process it was fast, easy, and they took care of me and my hard time of need. To all be blessed and have a happy holiday’s.

1698433372

Great customer service! Martin Dominguez was professional, efficient and completed my request with ease.

Reviews on ConsumerAffairs

Van Nuys, January 2024

With the pandemic-era federal student loan moratorium having come to an end in late 2023, millions of student loan borrowers have had to prepare for interest to resume accruing on their student loans, and for monthly student loan bills becoming due again starting in October 2023. Besides the directly affected 40+ million consumers, lenders and loan servicers have been bracing for the impact of the return to normalcy.

With Q4 2023 in the books, LoanMart has taken an initial look at title loan payment performance and title loan demand for borrowers with vs. without student loans. Thus far, the data does not show a material impact of the end of the student loan pause on the title loan borrowers.

Specifically, on the demand-side, 21.9% of the new loans processed by LoanMart in 2023 before the end of the student loan pause came from borrowers with outstanding student loan debt. Since the end of the student loan pause, the share of borrowers with outstanding student loan debt has accounted for only 21.2%, a reduction of 0.7%.

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Title loan delinquencies, as measured by the 60+ delinquency rate, also show no negative impact of the resumption of student loan payments on title loans serviced by LoanMart. While 60+ delinquencies for borrowers without student loans were virtually unchanged at the end of December 2023 compared to the average of January-September 2023, 60+ delinquencies for borrowers with student loans in December were about 7.5% better vs. the same reference period.

In summary, LoanMart’s data thus far suggests that title loan customers with student loan debt have adjusted well to the end of the federal student loan pause.

About LoanMart

LoanMart is proud to provide qualified consumers with convenient title loan services and facilitate financial literacy by providing online information resources. Learn more about LoanMart today by visiting www.800loanmart.com.

Contact Information: media@800loanmart.com

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All loans will be serviced by LoanMart. See State Disclosures for additional information. LoanMart is currently not lending in California and does not make loans or credit.

¹Loan approval is subject to meeting the lender's 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 serviced by LoanMart from February 2002 to July 2024.

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 PT 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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