Our reviewers evaluate products and services based on unbiased research. Top Consumer Reviews may earn money when you click on a link. Learn more about our process.

Loan Mart vs 1 800 Car Title

Sunday, June 20th

2021 Car Title Loan Provider Reviews

Loan Mart Review 4 Star Rating

Loan Mart

4 Star Rating
  • Fees: Interest rates from 60% to 180% APR
  • Additional fees of approximately 5%

LoanMart has a respectable "A" rating with the Better Business Bureau as an auto title lender, and a website that provides a good deal of information consumers should know when getting an car title loan. However, LoanMart currently only serves customers in the states of CA, AZ, NM, UT, MO, IL, AL, SD, and WI.

1 800 Car Title Review 2 Star Rating

1 800 Car Title

2 Star Rating
  • Fees: Interest rates from 35.50% to 199.99% APR (may vary for residents of SC, MO and UT)
  • Application fee of at least $75

In business since 2001, 1 800 Car Title has helped hundreds of thousands of customers to get fast cash through their car title loans. They are fully licensed or registered, and in good standing, in every state in which they lend. However, their C- rating with the Better Business Bureau, along with a hefty fine issued by the CFPB for illegal debt collection tactics, raise concerns with using their car title loan service.

The 4 Best Car Title Loan Providers

Who Offers the Best Car Title Loans?

Car title loans help millions of people to quickly access cash in times of need. In today's economy, not everyone is fortunate enough to have money in savings or a generous friend or relative from whom to borrow. When unexpected bills arise, such as an expensive car repair or visit to the emergency room, it can be challenging to find the funds to pay them. Car title loans use your vehicle's title as collateral for a short-term loan, while still allowing you full use of the car for all of your everyday needs. When you repay the loan, the title is returned to you, hassle-free.

Why do some people choose car title loans over other ways to borrow money? First, most car title loans are available to customers who don't have high credit scores. Also, the amount of an car title loan is based on the value of the vehicle, so some car owners can get more money than with other types of loans, if they have a car that's worth more.

The Best Car Title Loan Providers Compare Car Title Loan Providers Compare Car Title Loan Provider Reviews What are the best Car Title Loan Providers Best Car Title Loan Provider Reviews

Car Title Loan Provider FAQ

A car title loan uses your vehicle as collateral for short-term borrowing. The amount of money you qualify to receive depends on the value of your car: you won't get Porsche-level dollars for a Pontiac! You turn in your car title to the lender and get it back when the loan is paid in full.
These loans are usually for consumers who don't qualify for more traditional forms of lending, due to a poor credit history or other circumstances. Also, most loans don't require collateral like a vehicle title to secure the funding.
Completing an online loan application can typically be done in just a few minutes. The rest depends on how close you are to an in-person location where the lender will collect your vehicle title and finish the application process. Some services can have your funds deposited within a few hours of turning in your car title.
These loans are considered to be short-term, so it's common for you to only have 15 to 30 days to pay it back. You definitely want to be careful to only use a car title loan if you anticipate having the money to pay off the loan in the near future!
A LOT, in all sincerity. APRs for car title loans can reach as high as 300%! Again, these loans are often a last resort when people have maxed out their credit cards, have no money in savings, and don't qualify for a more traditional form of lending.
Yes! That's one of the benefits of a car title loan: you can still use the vehicle to go to work, school, or anywhere else you need.
Plain and simple, you lose your car. The lender has the right to repossess it if you don't pay back the loan on time. However, some lenders might offer to extend your loan terms - for a fee, of course.
Yes, but there are lenders that are reputable and ones that are anything but. Plus, these loans should only be used under the most dire of circumstances, because they come with extremely high interest rates and severe consequences if you don't pay them back in a relatively short period of time.
Compare the Best Reviews

Continued from above...

However, car title loans have some disadvantages that you should consider. The main caveat is that if you do not repay the loan, you will lose your car as the lender will effectively be the new owner. This can jeopardize your ability to get to work, school, or other important destinations. Equally disadvantageous are the high interest rates charged by most car title lenders. Obviously, car title loans are a last-resort way to borrow money, given the high fees and the risk of losing your vehicle.

Still, being able to get the cash you need to pay overdue bills or for other pressing needs is important. When evaluating different car title loans, make sure to keep in mind the following:

  • Loan Amount. How much money do you need? A variety of loan amounts are offered by different lenders, and most have a minimum amount that you'll need to borrow.
  • Service Fees and Interest Rates. Will you be charged anything for processing the loan? What are the interest rates typically charged by the lender?
  • Convenience. Is the application process 100% online, or will you need to fax in any required documents? How quickly will the funds be transferred to your account?

TopConsumerReviews.com has reviewed and ranked the best Car Title loans available today. We hope these reviews help you find the right title loan for your short-term financial needs!

Compare Car Title Loan Providers

Select any 2 Car Title Loan Providers to compare them head to head

best-car-title-loans
See the Best Car Title Loan Provider
The Best Reviews of Car Title Loan Providers