What Are the Qualifications & Credit Requirements for Getting a Title Loan?

car title loanFor individuals in a difficult financial situation, a title loan is often a viable alternative to traditional lenders and bank loans. Unlike most financing options, car title loans do not generally require an extensive approval process or demand a high credit rating. LoanMart, an industry leader with over a decade of experience, explains that title loans are an effective means to access funds in a short amount of time, and they offer convenient repayment options. In this article LoanMart outlines the various advantages of using their unique services.

What is a Car Title Loan?

An auto/car title loan is a secured loan where borrowers use their vehicle as collateral. Individuals allow a lender to place a lien on their car, in exchange for a specific amount of funds. Though a title loan is secured with their vehicle, borrowers can continue to drive the vehicle while paying off the loan. Continue reading