LoanMart has been a trusted source for auto title loans and personal loans for over a decade, with over 250,000 satisfied customers. Now, in partnership with Comenity Capital Bank, LoanMart proudly serves the states of Delaware, Florida, Illinois, Indiana, Kentucky, Michigan, Mississippi, Ohio, Oklahoma, Oregon, South Dakota, Tennessee, Texas and Washington.
An auto pawn loan is when a vehicle is taken to a pawn shop, pawned for money, and left there until the loan is repaid. People who choose this borrowing option lose a valuable method of transportation. Auto title loans allow customers to continue using their vehicles even while enjoying the value invested in the car. With automatic title loans from LoanMart, customers allow us to be added as a host until the loan is paid off. This is something the average person is used to doing if they buy their car with the help of a bank. When the debt was paid off, the lien holder removed themselves from the deed. It's the same as a car title loan. As you make monthly payments, you can continue to use it. After the loan is paid in full, the title deed of the car is given back to you.
Auto pawn lenders don't care as much as you lose your car. They keep your car in their own plot. So if you miss payments, the car is theirs and goes on sale. LoanMart cares - that's the difference. LoanMart wants to make sure you have the ability to repay the loan and wants to work with you in the process. This makes auto title loans a better option for the self-employed, retired, or those with social security or disability.
If a customer is unable to pay, LoanMart does its best to work with them to prevent their car from being confiscated. The organization's goal is to help clients get out of a financial crunch without causing them to lose their car. This is a level of understanding that will be hard to find in auto pawn loans.