Unethical Lenders

By November 7, 2014 Resources No Comments

Avoid Working with Unethical Lenders

HandshakeWhen people are looking for a way to get money quickly, they may have a tendency to overlook some potentially harmful aspects. If you’ve been turned down by traditional bank lenders in the past, you may feel anxious to just accept the first willing lender. That is exactly what predatory lenders are hoping for. LoanMart encourages financial responsibility with our borrowers and we hope you’ll heed this advice we have when looking for an ethical lender.

At LoanMart, you don’t have to worry about us trying to confuse you with legal jargon or misleading words. Our success depends on the financial responsibility of our customers. We encourage our customers to be wise when looking for help.

LoanMart’s loan agents work diligently to help customers through the process. We don’t want you taking out a loan that is too much for your financial situation. We estimate your ability to repay the loan by considering your income. Your vehicle’s market value is also used to determine the amount you qualify for. That helps to ensure you don’t exceed your budget with an excessive loan.

Unlike most auto title loan lenders, LoanMart strives to offer the best customer service by fostering relationships with our borrowers. Our loan agents are here to help you through the entire life of your loan. We will answer any questions we can, which is often not the case with many lenders.

It is wise to get as much information as you can before accepting a lender. Knowledge is power, especially concerning matters of finance.  Look around for the most reputable lender. We’re sure that you’ll agree that we top that list. You want to make sure that you work with a lender that serves you best.

Be Aware of Excessive Interest Rates and Fees with Auto Title Loan Lenders

One of the biggest problems auto title loan borrowers run into is egregious penalties associated with loan terms. Many auto title loan lenders will charge their customers large fees for paying their loans back early. That’s right, they will charge you for being financially responsible.

Avoid unethical car title loan lendersThat’s why LoanMart is different. Borrowers should never be penalized for being fiscally wise. Paying your loan back early or paying more than the minimum amount is a good idea for virtually any borrower. You can save some money by doing so too. With LoanMart, there are no penalties for paying your loan back early or paying more than the minimum payment.

People seeking loans should make sure their lender is being clear about the interest rate they are going to be charged. Many lenders will state interest rates that don’t apply to the terms of the individual’s loan in order to mislead people. You should be certain your lender is upfront about your interest rate and clear on any potential penalties that may apply.

Some lenders will do anything to get you to sign an agreement. We believe in being honest and forthcoming with our customers and they appreciate that. LoanMart encourages you to ask questions about your loan so that you can be as informed as possible. Our loan agents will go over the entire process with you and are happy to answer any questions you may have. Don’t be taken advantage of. Stay away from lenders with questionable tactics.

 

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