LoanMart Review

Are you looking for a personal loan or a title loan? offers a quick application process for those looking to get money as quickly as today, but before applying, you may want to know a little more about the company. 

Founded in 2002, is an online title company that offers quick and easy cash loans. You can get a $100-$50,000 loan with competitive interest rates and a flexible repayment plan without any collateral in just three easy steps. 

Even if you are not sure about your credit score, touts that they will make every effort to work with you. If you have an emergency or need cash to help pay bills, is a quick and easy option. 

Let’s take a look at, what they offer, and if they are the right choice for you in our review.

Table of Contents

General Information About


Over the last 20 years, grew from a small title company in Sherman Oaks, California, to an online powerhouse. Customers can easily apply online for a title loan (currently available in eight states) or quick cash personal loans (available across the country). eventually moved its headquarters to Encino, California, but the mission to help people reach their financial goals has stayed the same. 

The Pros Of

What makes stand out among the rest? Let’s take a look at some pros followed by cons in our comparison.

  • Easy Application Process
  • Quick Approval Times
  • Flexible Plans
  • Accessible
  • Rewards

Let’s take a look at each of these individually. 

3-Step Application Process

Customers of appreciate the fast application process: three easy steps with some loans approved in an hour. The customer service representatives are also known to be positive and helpful when a customer has a question or issue. 

Those looking to qualify for an auto title loan from should first go online to or contact them at their toll-free number. 

The second step is to submit documents showing proof of title, citizenship, income, and residency. With a high-speed connection, it’s possible to complete this step on the same day you apply. Once approved, the third and final step is to collect your money. 

Simply stated, the three steps are pre-qualification, document submission, and money collection. To get your title loan from, follow these three easy steps, and you can have money deposited in your bank account by the end of the day. 

If you don’t have high-speed internet or a bank account, you can still efficiently complete these steps. Give a call, mail in your application documents through the post office, and receive your money by check or at a local MoneyGram location. 

Quick Approval Times

Another benefit of working with is their quick approval times. Fast approval times mean you get money faster. Some customers get approved within an hour of applying – now that’s fast!

If you apply online early in the morning and promptly submit the required documents, it’s possible to have your money deposited in your bank account by the end of the day. Even if you have filed for bankruptcy in the past or have low or poor credit, approval times are quick and efficient. 

Once approved, delivers money via ACH direct deposit within 24-hours. The real benefit of their quick loan approval process is getting your money when you need it, which is especially helpful during an emergency. 

Flexible Plans

Depending on how much you apply and qualify for, your auto title loan will range from $2,500 to $50,000. And there isn’t a “fixed” or “one-size-fits-all” repayment plan to follow; works with every customer to design a plan for any budget. 

A typical repayment plan can range from 12 to 36-months, although it’s also common to see 48-month plans. You can work with a loan agent to find a plan that best fits your needs and lifestyle. If you are not sure what payment plan works best for you, is happy to answer all of your questions. 

And there’s no penalty if you happen to pay your loan off early. Whether you need more or less time to repay the loan,’s flexible plans are beneficial.  


Credit scores are known to wreak havoc on a person’s financial plans. If you have a low or bad credit score, getting a traditional loan from a banking institute is difficult. Yet, when you apply for a title loan from, your credit history has little-to-no effect on your approval.

This is great news for someone who needs cash quickly.’s ability to approve customers with a wide range of credit histories allows them to stand out among other loan agencies.

For those who need to improve a credit report, repaying a title loan on time (or early) can improve results. Some people use this strategy as a way to improve their credit score quickly by borrowing a small amount of money and repaying it within a short amount of time – it truly is a win-win. 


Everybody likes rewards. Even though doesn’t offer a typical rewards program like other lending agents, there are rewards for customers who pay their loans on time or even earlier.

Depending on the type of loan you get with, various rewards are available. For those with a typical 12-month title loan and excellent payment history, rewards include lowering your monthly payment or borrowing more money at a lower interest rate. 

The loan must be less than 90 days past due and not modified or matured to qualify for these rewards. You must also still have possession of the car (not repossessed). As long as you make your payments on time, you are eligible for lower monthly payments towards the end of the loan. 

The Cons Of

When working with a loan agency, it’s best to keep an eye on the fine print and potential negatives. is no exception. Keep these four items in mind when it comes to

  • High-Interest Rates
  • Default Penalties
  • Title Loans Only Available in Some States
  • Transparency Issues

We’ll break these down more. 

High-Interest Rates

A customer with an average car loan will typically pay 30% to a maximum of 165% in interest on the original loan. With (or any quick cash loan agency), those percentages skyrocket to 400% or even 1,000%.

Although you won’t have to put up any collateral when you take out the loan, the high interest rates are enough to make you take a second look at how much you are borrowing. It’s best to clearly understand the principal and interest rate amounts before signing any paperwork. considers several factors to determine the interest rate of your loan, including FICO credit score and debt history, monthly income and employment status, as well as how much you are asking to borrow. may approve a loan application with a poor or low credit score, but they will add a hefty interest rate to mitigate any risk. 

Default Penalties

Penalties will incur if, for whatever reason, you can’t make the payments and default on the loan. While these penalties are never optimal, they can happen, and borrowers should be aware of the possibility. 

Simply stated, will repossess your vehicle if you default on the loan. It’s not ideal and usually only takes this course of action as a last resort if you miss payments. If you are worried about possibly defaulting on the loan, it’s best to speak with a agent as soon as possible.

In cases where you know you will miss a payment or are having trouble making payments, strongly encourages customers to work with an agent about the loan terms. Options include extending the lifetime of the loan or lowering the payments. 

Repossession is always the last option, but it’s still an option.  

Title Loans Only Available in Some States is currently available in eight states. If you are a resident of Alabama, Arizona, California, Georgia, Missouri, New Mexico, Utah, or South Carolina, you will have no issue working with

However, people in other states are limited in’s services. There are 30 states where title loans are illegal to protect their residents from overwhelming debt. For this reason, title loans are not available in some states.

However, does offer quick cash loan options in partnership with MoneyGram. These are not typical title loans and have different terms, such as a faster repayment plan. A customer can borrow money from in any state with a quick cash loan. 

Transparency Issues

Because title loans are not allowed in every state, created other services for customers across the country, specifically quick cash loans. However, these services are not clearly marked on their website. You have to search for different types of loans offered, and even then, they are not forthcoming with their terms. 

The other type of loan available with is a quick cash loan, also known as “payday” loans. These cash loans are an option for customers who want to borrow money from in a state that doesn’t allow title loans. 

Though there is not much information about them on the website, customers can pick up their money at a MoneyGram location.

These cash loan options are great options for customers nationwide. However, there’s not a lot of information regarding them on It’s worth your due diligence to make sure you understand the terms of this type of loan before applying. 

Overall Reputation & Reviews For has an impressive amount of ratings on the Internet because they have been in business for more than 20 years. Some people love them, while others don’t.

If you are familiar with title loan agencies and know what to expect (quick cash at high interest rates), then your experience will likely be a positive one. 

It seems that those unfamiliar with online title loans struggle with the high interest rates. And while the negative reviews almost all focus on the high interest rates, the positive reviews rave about how quickly they received funds and the customer service quality. 

Search for “” in your Internet browser, and the auto-fill feature may recommend the term “legitimate.” That may be worrisome to some researchers, while others will appreciate the transparency. It’s good to note that review sites (such as and overwhelmingly conclude that is not only legitimate but recommended if you can make the payments.

Q&A For

If you still have some questions about, we’ve put together a list of the most frequently asked questions to help you out.

Which States Does Operate In? is headquartered in California and offers title loan services in seven other states: 

  • Alabama
  • Arizona
  • Georgia
  • Missouri
  • New Mexico
  • Utah
  • South Carolina

They also provide cash loan options across the country. Customers can go online or call to apply for a loan (there are no physical or brick-and-mortar store locations).

Which Type Of Loans Does Offer?

Although known primarily as an auto title loan agency, also offers quick cash or “payday” loans. 

Auto Title Loans

An auto title loan is also commonly referred to as a car title loan, pink slip loan, cash-for-car title loan, auto collateral loan, and many other names. They are all the same type of loan: borrowers use the car’s title as collateral to receive a loan. If you default on payments, the lender (in this case, will repossess the vehicle.

Quick Cash Loans

Those applying for a quick cash loan will find that there’s a cap on the amount they can borrow and a relatively short time to repay the loan. With, the maximum amount you can borrow is $2,500, with loan terms varying (and not transparent on the website).  

With either loan type from, you can use the money any way you need. Whether it’s an emergency or paying a bill- the money is all yours to spend in whatever way you see best. 

How Do I Qualify For Loans & Do They Require A Credit Check?

Customers ages 18 and older can apply online for a auto title loan. If you don’t have access to the Internet, you can always call them on their toll-free number. It’s free to apply for a loan and typically takes about thirty minutes for this first step of pre-qualification. 

To qualify, you must prove title ownership, citizenship, residency, and employment. will also run a brief credit report (known as a soft inquiry). Those with poor credit can be approved for a title loan but may have higher interest rates in the loan terms. will also assess the vehicle to determine its value. Once ownership and value of the car are determined, approves or declines the loan, typically within 24-hours. If approved, the loan is processed, and money is sent via ACH bank deposit, again within 24-hours. 

How Much Does Cost?

You can apply for a loan from loan at no cost. However, doesn’t make its money from loan applications; It’s all about interest rates. How much you pay is determined by the principal loan amount plus interest rates. 

The total interest you end up paying over the lifetime of a loan to can sometimes equal the loan’s actual cost. When looking at the loan terms, that’s something to consider, including length of loan and interest rate. But the higher interest rates might be worth the risks if you are looking to get fast and easy access to cash.

Another thing to keep in mind: offsets their risks not only with high interest rates, but they may also add a tracking device to your car.  They do this specifically on loans of $10,000 and more. It’s not an extra cost, but something to keep in mind.  


If you need money because of an emergency or just hard luck, offers a way to get cash fast. They offer auto title loans from $2,500 to $50,000 and quick cash loans up to $2,500. For some, this is what they need to get by for just a short time.

And while there are several benefits to working with, our review shows that the interest rates have the potential to do more harm than good. As long as you carefully read the loan terms before signing any paperwork and make your payments on time, you should have no issue with

You might also like