In order to be approved for a cash loan, you need to be a legal adult. For most of the United States, legalized adulthood occurs at the age of eighteen. But cash loans are notorious for having astronomically high interest rates. If you are a young person seeking financial assistance, a cash loan may not be the best option for you.
The term âcash loanâ can refer to an unsecured payday loan or any other unsecured loan that does not use a form of collateral. With the high interest rates that come with unsecured loans, paying back an unsecured loan could be quite difficult. Falling behind on your cash loan payments will lead to a cycle of debt and if you default, possibly a poor report on your credit report. Especially as a young person, you want to do things that will improve your credit report, not harm it.
Where to Get the Best Deal on a Car Title Loan
When you are looking for a car title loan, you want to go with a leading lender. The lending company, LoanMart, has been a leader in non-traditional lending since 2002! We have a respected reputation as a trusted lender, because LoanMart puts your financial needs first. We have the experience to guide you through our lending services.
The secret to LoanMartâs success is our 3-point mission.
Call Our Team
Take the first step and call our toll-free hotline to speak with a specialist.
- Serve
- Educate
- Protect
LoanMart is dedicated to providing you with the best service possible and giving you the most accurate information all while protecting your personal details in our secure network. Hereâs what we think:
- Customer Service â because we care about YOU
Everything we do here at LoanMart, we do for YOU. Our customers are at the heart of what we do because LoanMart wouldnât be the successful car title loan lender we are if it werenât for your support. We strive every day to identify and address every single one of your financial needs. There are qualified LoanMart representatives available 7 days a week with extended hours for your convenience. We are here to answer all questions you may have about your title loan process.
- Education â because knowledge really is POWER
In order to make the best decisions for yourself, you need all the facts. LoanMart aims to empower you with the most accurate and useful information available. The more you know, the better prepared you can be when it comes to making important financial decisions. LoanMart makes a strong effort to never mislead you, we hate inaccurate information just as much as you do.
- Security â because you should always be safe
We know it can be scary to input your personal details into the computer, especially this day in age. Thatâs why LoanMart protects your information inside our encrypted network, to fend off hackers and other internet thieves. Rest assured with your LoanMart title loan knowing that your personal information is in safe hands.
How do Car Title Loans Work?
Getting car title loans in Fort Wayne with LoanMart is simple and only takes 3 easy steps
- You give us a call at 855-422-7412, visit us at any of our participating stores, apply online on LoanMartâs website, or even use your mobile device using our LoanMart Mobile App
- LoanMart can get you your funding as soon as 24 hours3. You can find out if you are pre-approved after filling out a quick 5-minute information request. After we have your documentation, you will go over the terms of the contract with an underwriter, then you can sign your contract
- You will be paid with either a check, through an electronic money transfer, or pick up your funds at a participating money transfer location near you
LoanMart has been a top-notch lender for over a decade. We pride ourselves on our competitive business practices that work to get you the financial assistance you need fast! At LoanMart, YOU ARE THE PRIORITY.
Check out our home page and get started on your car title loan process today! If you make an effort towards your financial security today, you could reap the benefits of car title loans in Lexington and get a loan that works best for your financial situation.
Frequently Asked Questions:
How Old Must You Be to Get a Cash Loan?
You must be a legal adult to apply and qualify for a cash loan. A person is considered a legal adult in the U.S. at the age of 18.
What is a Cash Loan?
Payday loans are considered to be cash loans. Typically, they are a resource that usually consists of short-term loan agreements and high interest rates. Generally, you must pay it off in its entirety by your next payday, hence the name âpayday loan.â
Are Cash Loans a Good Idea?
Cash loans may not be the best option for everyone. Cash loans are unsecured and typically have high interest rates or hidden fees that are hard to repay. Falling behind on your payments will hurt your credit report as well.
Can I Apply for Another Loan That Isnât a Cash Loan?
Yes! A car title loan can be a better option for those who own a car or are close to owning one. To initially qualify, you will need to be a legal adult, have a paid-off/ close to paid-off car, and be able to provide a source of consistent income.
How Does a Car Title Loan Work?
A title loan works by allowing a borrower to use their car title as collateral. The amount of the loan and the applicant’s eligibility are primarily determined by their income and vehicle value. A lien is placed on the car title after the loan is completed, but the borrower can still drive the car.