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LoanMart (formerly 800loanmart.com)
LoanMart (formerly 800loanmart.com)
Overall Satisfaction Rating
4.00/5
  • 5 stars
    131
  • 4 stars
    20
  • 3 stars
    17
  • 2 stars
    4
  • 1 stars
    35
Based on 207 reviews that contain star ratings
SHOW RATING DISTRIBUTION

LoanMart (formerly 800loanmart.com)

ConsumerAffairs Accredited Brand

1-800LoanMart is the leading provider of non-traditional lending services since 2001. We provide loans directly to consumers, as well as through a network of business partners. 1-800LoanMart is a company with a diverse portfolio of financial products, including direct financing on auto title loans. We are not hindered by regulatory constraints that make most bankers hesitate to advance capital. Our form of financing enables car owners to achieve their financial objectives.

ABBB Rating
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340 LoanMart (formerly 800loanmart.com) Consumer Reviews and Complaints

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Aug. 29, 2018

I am very satisfied with the service from LoanMart! Very friendly and very patient, with us! I would totally recommend to a friend to come here! I feel very safe and very aware of each step of the process! Definitely recommend!

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Rated with 1 starResolution In Progress
Verified Reviewer
Original review: Aug. 18, 2018

This company made an unauthorized charge on my card. It took 3-5 days for the money to go in my account and caused $400 in late/overdraft fees. When I spoke with LoanMart about who would be responsible for the fees, they told me, "Oh well". Nothing they can do and they don't have a corporate to contact. SMMFH.

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

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Factual basis uncertain
Verified Reviewer
Original review: Aug. 17, 2018

LoanMart repossessed my BMW convertible after missing one payment because I was hospitalized with pneumonia. They sold the vehicle at auction and received a lot less than the amount of the loan. The loan was for $7200.00 and they sold the vehicle for $5000.00. They then proceeded to attempt to collect $8400.00 from me. They did not attempt to get a deficiency judgment so therefore I owed them nothing. They know that most judges will not award a deficiency judgment if they have taken the collateral. LoanMart claimed on my credit report that I owed $8400.00 and had not made a payment and caused my credit score to plummet and made it difficult to obtain credit.

I have asked them to remove the false credit ding on my report but they refused and continued to call me and send threatening letters and email even though they were in violation of the law. They cannot sue me because of the statute of limitations has expired, but I can sue them for reporting false information on credit reports, which I intend to do. The parent company, Wheels LLC is also a used car sales company, they act as brokers and make a lot of money by prepossessing vehicle. That can be checked out through the DMV.

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2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 30, 2018

Be careful in doing business with the above company. LoanMart is falsifying illegal contracts on consumers I know because I’m a victim of that scam. LoanMart does not practice honesty in their business dealings. I understand business is business if you get the loan yes absolutely pay it in all fairness. Well I paid it all & 18,000 and these scammers decided to condor up a scam on me and tell me I had an error in Loan Number on the current loan going forward use Loan Number **. I thought nothing of it just that ok. H ** Danny ** told me he would mail this contract but never did I had to make him do it and lo and behold it’s all faked and forged and very much illegal. I know this conversation and I will never forget it never.

LoanMart refused to give me my pink slip back as the loan matured and came stoled my car before the holidays in 2016. Do they not know what they did that’s how we eat, work, go to school. I did not deserve that one bit. I was honest and paid. Even their lawyers who work for LoanMart are unethical they stand by knowing all of this company is fraud. But I know one thing I’m not giving up I’m going to make them rectify this. How could anyone do this sort of cruel thing to a mom knowing she paid it knowing it’s a scam, but that conversation of error in Loan Number I will never forget. That’s the nail in the coffin. And that’s how I know these people are very dishonest.

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LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address indicated in your communication. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

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Rated with 1 star
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Verified Reviewer
Original review: July 25, 2018

I got a loan. At the time really needed money. Rent was due. Things pilling up. Lost 1 job. Still have part time job and had to do it. They were great. Quick service. But fell behind. Car got repo. Cashed in some stocks I had. Got it out about 900.00. Had to pay to get it out. Original loan was 2500. I still owe over 7000.00 after paying on it for over a year. How is that possible!!! Fell behind again this month. Made payment that I cant keep. They probably gonna take it again. Only have a part time job. Got people living with me to help out with basic household needs. Even applied for social security since I'm 62. They said it takes about 45 days. But I know LoanMart won't wait. Dont know what to do. Help!!!

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address indicated in your communication. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

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Rated with 1 star
Verified Reviewer
Original review: July 11, 2018

As most review I was stress, having severe anxiety, trapped in a very hard financial spot due to a unexpected illness with my child. (Rhabdomyosarcoma cancer) We regretfully had to take out a title loan after emptying our life saving and thinking “this will never happen to us” made a crap choice on health insurance. We took out a 2500 dollar loan. Have paid a total of 4073.54 back. We are currently sitting at 60 day 400.00 dollars past due because my son cancer has spread from his arms to leg, and lower and upper body, which has caused him to be wheelchair bound and fighting for his life. LoanMart has called roughly 10 to 20 times a day. I currently hold 2 full time jobs and a part time job paying for medical, food, hospital, rent, bills, I have made payment arrangement which yes I was unable to keep due to having to place payments to doctors to pay for surgery, chemo, prescription, counseling.

I have tried to explained this to LoanMart but receive threatening texts and email telling me they will repo my SUV to “give it up now it be better for me” (really how can taking the only transportation my family has to transport a child to and from the doctors 4 to 5 times a week, plus a pulmonologist and pulmonary therapy twice a week better for me?). I have ask for compassion and empathy on this issue and promising them to be caught up within a month and a half, due to health insurance and 2 full time paycheck finally coming in. I receive this response copied from the threatening text received from LoanMart!

“This is unacceptable arrangement, I can't grant you that much time, I need the location of the Ford Explorer before we transfer the file to possible legal review. You must either cover the payment or provide the location of the Ford today before 3pm, I gave you till the 6th to cover the payment but you never made the payment, so you did break your promise to cover the payment. The repossession order open and my agent spotted the car already, it will be cheaper for you if you surrender the car. I can't stop any further escalation on your file anymore, The SUV has been placed on camera system, please let me know if you will be able to cover the payment by 3pm or surrendering the SUV.” End quote.

I explained that this is the only transportation we have and if repo it be very detrimental and a major setback in recovery and the added stress of a child who already has a fight that no one can ever imagine. We borrowed 2500. Paid back over 4050 dollar. Unable to get a payoff amount (anytime we call we are told to make a payment and they will tell us) my wife spend every waking hour with our son and doctors and sleeps when possible. Now she stay awake to “stop the repo.” This company will prey on you like a cat to a mouse! Once LOANMART has you in the teeth you can no longer afford to do anything but cry! Horrible horrible company! I would do anything to turn back time and slap the crap out of myself for taking this loan out!!! Stay away!!

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LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address indicated in your communication. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

4 people found this review helpful
Factual basis uncertain
Verified Reviewer
Original review: July 7, 2018

I borrowed $2600 three years ago, have made 31 payments of $210 (6,510) and still owe $1,900. When I looked at my contract it says 93.3% interest rate. Something is not right. The end date of the loan already passed and still owe that much. Now seeking legal advice and bringing my story to the news stations. Please be warned!!

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 16, 2018

Very bad experience! Same as all the other people complaining here, a mere $2500 loan is now becoming $4200 after 8 months of paying $358. They don't even want to help you pay it off by lowering the payments, lowering the interest, etc. Please contact: Department of Business Oversight. Consumer Services Office. 1515 K Street, Suite 200. Sacramento, CA 95814. Tel# 1-866-275-2677. Internet: www.dbo.ca.gov.

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

2 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: May 25, 2018

I got a $2600 loan almost 3 years ago and Have been paying $235 per month for 3 years now. Last year we fell behind financially. They say I still owe over $5000. How is this possible? They offered me a settlement of $2500 due in 4 days. I am due with baby #4 in Sept and this is our only vehicle. I am high risk. I can't work. My husband doesn't make enough money to pay my car loan. I don't think I can come up with $2500 in 4 days and I can't lose our only vehicle. I am beyond stressed with this loan and I will never recommend anyone doing so. It is a hole you will never get out of.

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

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Rated with 1 star
Verified Reviewer Verified Buyer
Original review: May 22, 2018

To begin I knew this title loan company was terrible and completely predatory in design at its bare minimum, but they simply provided me the largest amount against my car. $3,000 essentially. If everything went as planned, I would be able to pay back that $3,000 back on top of the little interest that would have accrued over the course of a month with money left over. Before even (Docu)signing my contract, I laughed at the fact my initial $3,000 loan would mature at $13,5** if I successfully made all payments of $3** on time. Mind you I paid $10,200 for the car through CarMax 16 months prior. I laughed at how outrageously crooked this company preys on financially desperate individuals. I succeeded in making the money I needed, and promptly went ahead and ruined myself. Couldn't make payments for two months as a result. They'll give you plenty of warning that they'll take your car (which they will do).

So I went ahead and attempted to be proactive and sell the car myself which would've been successful had they not taken the car so fast. In the hopes that the car would cover the cost of the loan, I didn't bother to fight the repossession, that specific car in the condition it was in was going for well over $3,000. It only brought in $1,500 bringing down the principal $1,500 after a $375 tow truck fee, $125 auction fee and any other pocket change they can run through your pockets with. At this point I had NO INCENTIVE to pay them off. That is when they will send you a letter offering to settle your debt at 70% less than your total balance which basically comes out to your original loan amount. Can you imagine, a 70% discount AFTER the loss of your vehicle comes out to the original loan balance. Take the time to let that one marinate. Needless to say I shredded that letter.

Chapter 2. Here's where it gets fun. Months later I acquire a new job after purchasing another car that simply runs. I then decide to pay down all debts in a timely manner. I call LoanMart to see where my balance is at. Spoke with someone named Jesse, a pretentious individual to say the least. He explains My loan is at $3,800 even AFTER applying the $1,500 they made from my vehicle. Cool. The "Settlement Offer" would be $1,860 if I paid off the balance within the week or made a large payment one week and the remainder within 30 days. The settlement sounded manageable for my current situation.

As I started working the numbers and suggesting he lower it to $1,500 he went ahead and told me that's the best he could offer followed by lies. (Saving readers some time here.) He then has the audacity to tell me he does not even have to offer me the settlement and that I could pay off the $3,800 balance at 150% interest which comes to $6 and change accrued per day. Essentially attempting to strong arm me into paying the very amount I expressed interest in paying in the first place! When I asked if he had seriously suggested that I "waive the settlement offer and pay the $4,000 instead," he then claimed I was putting words in his mouth and running the conversation in circles.

After clearly and concisely explaining to him that he was attempting to be "a few choice words" I decided to have him email the documents and promptly hung up on him. Within two minutes I called again to speak with another, hopefully more respectable predator. Oxymoron I suppose. Anyway, I get through to a guy named Charles who puts me on a 5 minute hold after reviewing my information (I assume he may have seen notes from my previous call) and then I'm now speaking with a man named Diego. I immediately explain that I did not request to be transferred and will only speak with Charles. (Diego may have been the Manager more than likely.) Charles comes back on the line noticeably more shaky in his voice asking how he could help me.

I said he already knows as I've not only told him when we first spoke, but he even proceeded to read to me my ACCOUNT INFORMATION NOT MORE THAN 5 MINUTES PRIOR. As he gathers his short memory he explains a settlement offer is available. (Oh joy!) I explain that I'm willing to work it out at $1,500 which he says he must run through with a manager for approval.

His manager approves it to be paid at $1,500 instead of $1,860. $360 dollars less after a second phone call and a little bit of games. I tell him, “Great, send me the documents within 30 minutes.” Documents are sent within the timeframe from Diego nonetheless. That wasn't even an issue, my issue now was how they were so quick to jump on the decreased amount after only a second phone call. If anything, they made me ULTRA suspicious when they sent over another DocuSign agreement. At this point I figured it would be best to consult a lawyer to see if I should even pay them at all.

I'm not going to cry and complain as to how bad this title loan company is, or how badly "some" of the staff members there are downright uncaring and disrespectful to the borrowers, or even how the loan is designed to bring them in a steady stream of hundreds of dollars per month in profit from the truly unfortunate. Nope, there are enough reviews on here that accomplish just that. I figure I would share my experience, and save some ballsy individual who considers taking on this loan, to just avoid this one. Just avoid.

And for those of you who already got stuck into this, don't pay them $3 to $400 religiously every month just to bring your principal down $50 every month. Either pay them in full the first or even the second month, or sell your car at over the loan’s value or close to it, and pay off the balance and get a beater until you bounce back. It will work out much better in your favor, believe me. I was in a unique situation and was able to bounce back pretty quick even at great financial loss and the loss of my vehicle. Many others ARE NOT so fortunate. Stay AWAY.

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LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 10, 2018

My boyfriend was having some issues a few months ago and it caused a ripple effect in our home. With him not being too well things got tough financially. So of course when you're down and you think it can't get worse it does just to show who's really in control. That's when my car the only transportation I have for work goes down. Since I only have my boyfriend and a handful of friends getting my car fixed for a good price was out of the picture. Plus not only do I use my car it also the means of transportation for my best friend and her daughter. Life becomes impossible when this happens. Suddenly everything seems so hard to get done. I lost 2 days of work and my friend lost work and getting her daughter to school was nearly impossible.

I decided to try and get a loan. The only one available to me was thru Loanmart. I had literally just paid off my car. I was not sure I should take the loan but rent was late and I was missing work. With no other options I had to accept it. The first time I tried to pay I found out they don't accept American Express which was the only card I had so I had to get a different card. Then I was doing ok getting by barely and I found myself needing to extend my pay date by a week. They refused to do this. I called back many times, I kept asking and finally I was able to change it. But they didn't want to and they will not cooperate at all. I was going over my bills and after paying $330.25 last month to needing to pay again my balance only dropped $50 dollars. That is all I end up paying every time.

Now I can't pay again on time and I need my car. My bf is sick, my friend still doesn't have her license back. I need a second job but without a car that won't happen. I can't refinance because the car is too old with too many miles. All my utilities have gone unpaid and are in jeopardy of being shut off. This loan thru Loanmart is the worst idea ever. If they take my car my life will be over and the worst part is I can pay the payment in a week but this company is uncaring and ruining people's lives. I could never work for such money hungry selfish people who are taking advantage of people in desperate times. I support and all claims about that are negative about this company. I am willing to be part of any lawsuit against them.

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LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

4 people found this review helpful
Factual basis uncertain
Verified Reviewer
Original review: April 20, 2018

If you are planning to get a loan from these shark lender make sure to have at least $15,000 extra sitting in your bank account because your monthly payment is barely going to be you paying off the interest. I got a loan from these guy (or crooks whatever you want to call them ) about 2 months ago. Reason why people get loans is because they are going through difficult times and need money urgent. After making the first payment a little late than the original due date which was around 15th I talked with them to extend the due date which they did and I appreciate. Next month I'm late on the payment again but planned to pay it when I get my tax check which they weren't having. Don't remember the person I spoke with but I'm sure he wouldn't care if I was dead, or anything. His only argument was "we need location of vehicle to pick up".

These crooks know some people don't read the whole contract when getting loan and putting car up as collateral (which THEY TAKE FULL ADVANTAGE OF) because when consumers are in desperate need of money they only think about the help they can get. Please pay close attention to the contract you're signing with these shark lenders. They will take full advantage in any way they can. And on top of that if your car gets repo then they sell it at auction. I gave my car up because I couldn't afford the payments and the guy I spoke with said "if the car sells for less, you still owe the difference". They sell at auction so it's up to them how much they tell the auction to sell it for at least. But if you ask them they beat around the bush.

Hopefully these guys learn about FACEBOOK (recently having to go into court for questioning) and get enough complaints to figure out predatory lending isn't right, and if the complaints pile up someone really gonna give them the runaround. I went through some of the paperwork I signed when getting the loan with these guys and if I were to do this before getting loan I wouldn't even think of getting a loan with them

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14 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: April 10, 2018

When I first contacted LoanMart was because I was already in a financial bind, with that said, I believe people are more vulnerable when they find themselves in a financial situation where they see no alternative and make the worst decisions ever. LoanMart takes advantage of this. I got a title loan in the amount of $3,094, I have made a total of $2,368 in payments and my balance as of today is $3,564.60 and that includes $40 of past due charges because yes, I have trouble paying that amount monthly. At this point, I see no end in the near future. I have contacted them numerous times to see how I can get this paid off faster, they will not help. I tell them I have trouble paying this amount monthly. Sometimes I can't pay my rent because of this. But there is no alternative other than paying them the balance due which I can't afford.

I have contacted their customer service numerous times. Once I called when I had trouble paying on time due to 2 unexpected deaths in the family, they didn't care. I was asking for a week extension and they were very threatening telling me they wanted the payment now! I also made a payment arrangement with one of the reps one time and I kept getting calls after the arrangement was made about my payment due. The rep who claimed was a manager never put the arrangements in the system. I just want this monthly nightmare to be over but I see no end in sight. Desperate times come with very, very bad consequences.

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LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

3 people found this review helpful
Factual basis uncertain
profile pic of the author
Verified Reviewer Verified Buyer
Original review: March 27, 2018

Stay away from this company, they will take your money and your vehicle too if you are late for 15 days or so. This is a big shark loan company, they take advantage in big way through their very high interest, and if you are late in your payment they will take your car away (steal it) within 15 days or so. They don't care about any situation you have. Even if you are very sick or broken they will not reschedule the payment for you, all that they do is taking advantage of people on the top of the high interest and daily interest too, if you get a loan for $4900.00 most likely you can end up paying them $20000.00 easily, stay away from them. It is not worth it to lose your vehicle and hard earning money on a company like this, they have NO sense or feelings for you, they are after your money only, they can't even wait for 1 late payment.

I got a loan from them for $4990.00, paid them 4 payments each 442.00 a month. When I got sick and behind in my 5th payment for 19 days, they took the car away in the middle of the night without my knowledge. When I'm away on a medical treatment, what a shame!!! And I'm still owing them $6800.00 after 4 payments on the top of the damages they caused me and taking my car away for 19 days late. If anybody can file a class action suit against this company any time I will join them.

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LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

6 people found this review helpful
Factual basis uncertain
profile pic of the author
Verified Reviewer
Original review: March 20, 2018

LoanMart is company that takes advantage of consumers with their outrageous interest rates. The account managers do not fully disclose the proper interest being applied to these loans. A loan as low as 3k ends up costing over 15k!!! In the event that you lose your job they have no option in order to save your vehicle. This company is taking advantage of lower & middle class people!

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

8 people found this review helpful
Insufficient response received
Verified Reviewer Verified Buyer
Original review: March 6, 2018

My elderly aunt has cancer and has been very ill. Her sister in-law convinced her that she needed to get a loan because the sister in-law needed to pay some bills and would help her pay it back. So my aunt agreed and thought she was doing a good thing. Two months later my aunt had her Surgery while in ICU. Her sister in law told her she was not going to come back and live with them anymore. Now she is stuck with a $370 month payment at 125% interest and only has SS of $860 a month. I have asked LoanMart if they could reduce the interest so she could get it paid off and they say no. She took out the loan, I asked if they knew under distress this was done. They said, "No". They will give it to anyone so basically who cares. She can give up her car or pay it. I just really hope they can sleep knowing the struggles that they put on people. They are LOAN SHARKS which should be against the law.

11 people found this review helpful
Factual basis uncertain
profile pic of the author
Verified Reviewer Verified Buyer
Original review: Jan. 27, 2018

My van was up for repossession. A tow truck was in the area my van was parked at. They talked to my husband, saying van was up for repo, they need the key, they would be back the next day. They came on January 11th approximately 4:30, they took it. Now LoanMart is saying it wasn't a tow company they contract, they called, the company denied picking van up, saying they picked up a white van for parts. LoanMart is saying perhaps I'm confused, have another van that I'm getting mixed up with! I'm baffled!

11 people found this review helpful
Rated with 2 stars
profile pic of the author
Verified Reviewer Verified Buyer
Original review: Jan. 24, 2018

I fell into a bad health situation and was out of work for a month, Hammered with hospital bills and the regular bills due I reluctantly took out a title loan with LoanMart. I received 3 different calls before the first bill was due asking me to call LoanMart, It was called a welcome call. Each time I returned the call as asked. During the process I was treated very rudely by customer service, They already have a poor attitude towards you when you arrive on the other end of the line. It’s degrading and difficult to deal with when you are already going through hardships that put you in this position. My original experience during the loan process was kind and respectful. It did not carry out after the money was received. Whatever comfortable and easy feeling has been completely lost with the way I have been treated since. Hoping to be done with this situation soon and see a happier situation down the road.

LoanMart (formerly 800loanmart.com) response

LoanMart takes pride treating every customer with excellent personal service. A detailed response is sent to you privately on ConsumerAffairs. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

5 people found this review helpful
Insufficient response received
Verified Reviewer Verified Buyer
Original review: Dec. 7, 2017

My husband was laid off from work. We fell back on bills. He said he would take care of things and ended up with a title loan of $2,700 from RIPOFF LOANMART! I decided to look into the account to find out how much money we owe them. Well...we have made on time payments of $330 for 7 months and guess what... We now owe $2,563! Bless my husband's heart but he’s an idiot! I don’t care what BS LoanMart replies to my messages with! They are setting people up for failure with their ridiculous interest rate and they know it! Never again am I trusting my husband to “take care of it.” THIS PLACE TAKES ADVANTAGE OF PEOPLE WHO ARE IN NEED OF HELP! Their only goal is to make it impossible for people to pay off the loan, they will end up with thousands of dollars of your hard earned money or end up taking your car! DON’T DO IT PEOPLE!

LoanMart (formerly 800loanmart.com) response

Thank you for your feedback on behalf of your husband, who’s a LoanMart account holder. In order to assist you and address account information, please have your husband provide a written third party authorization to LoanMart at compliance@loanmart.com. LoanMart values its customers and considers each feedback an opportunity to assist and serve them more effectively. LoanMart looks forward to hearing from you or your husband soon.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 28, 2017

Today I was left in utter shock after speaking with the most nastiest rude unprofessional supervisor at LoanMart. I had called to make sure I understood the terms of my account because I am past due and I've gotten multiple emails as well as calls from different representatives. Each one of these representative said something different so I wanted to be clear on what I needed to do so I asked to speak to a supervisor that I believe who would have the last say so. Well that didn't go so well this. This man by the name of Rodger was a extremely rude continue. Continue to cut me off when I was trying to gain clarity on if I didn't get my account up to date what will happen. He became annoyed because I continue to ask questions. He even stated how, "How many more times I have to tell you. I told you three times. ."

He told me that I'm just mad because he knows that I will not be able to make the payment and he's dealt with people like me trying to avoid our obligations. During the conversation I continue to ask him or let him know that he was being extremely rude and unprofessional. He did not acknowledge what I was saying one bit and continued on as I believe mocking me. He spoke to me with such disrespect I could not believe what I was hearing usually. Usually it's always to customers who’s irate and rude but not this case at. At no point was I rude to him or even cursed him out. During the conversation I did let him know that this call was being recorded just to prove that every representative I spoke to told me something different so I do have my records. I did let him know I wasn't stupid.

This nasty conversation by him continued on for at least 10 minutes when he finally stayed it if I didn't have to payment and they would go on with the next step and he hung up the phone in my face before I can even respond. I immediately called back and ask the representative how do I go about filing a complaint. For this man Rodger to be so comfortable at being unprofessional nasty and rude and hanging up in a customer's face I'm sure he's behaved like this before. So that no one else has to go through this I will be filing a complaint to the BBB on this representative.

Just for some clarification not all the representatives behaved like this. This was my first experience through LoanMart. The other representative seem to be very sweet and helpful and professional. It's so sad that a man like this represents LoanMart and he's a supervisor it's. It's just too bad I didn't get his last name he. He only said his name was Rodger and I'm not sure if that's even the truth. But I was told that the calls are recorded Soso maybe the head person of LoanMart can go back and review the conversation.

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LoanMart (formerly 800loanmart.com) response

LoanMart takes pride treating every customer with excellent personal service. A detailed response is sent to you privately on ConsumerAffairs. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

5 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Nov. 25, 2017

We had a title loan through LoanMart. We called LoanMart and stated we were going to pay off the title loan. During the conversation with the LoanMart representative we were informed we had to wire them the total amount due. After we wired the total amount due we were to contact LoanMart with the reference number and they would close out the loan and mail us the title. We never received a paid in full letter. About 2 weeks after paying off the loan we begin receiving phone calls & emails telling us we were behind on our title loan and to contact them immediately to work out payment arrangements.

After another week we began receiving calls from a repossession company. Mind you we have yet to receive a payoff letter. Called LoanMart to find out what was going on and was told they will take care it. After another 2 months went by and not receiving a payoff letter or my title I call them and ask where my title was. I was told "They lost the title and I would have to apply for a lost title from the Secretary of State office at my expense"!! So now to get my title I have to pay $95 to the Secretary of State. Stay away from this company.!!!

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LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mail to your address on file. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

8 people found this review helpful
Rated with 4 stars
Verified Reviewer
Original review: Nov. 14, 2017

When I initially took out a auto loan from LoanMart I dealt with an office in my hometown. The office was very professional. I received my monies within an hour of applying. The problem I had is the explanation of daily interest. I borrowed $3500 that was in April 2017, my monthly payment $284.62. Some month its was $278, thought my balance was down, but it's at 3400 after $1K plus payments. I am more concerned with repo policy. I've had hard times this past week and a half from deaths to major medical issues. My payment was due 10/25, was trying to borrow money this weekend, but failed to death/medical issues over weekend. I will receive my Social Security on the 17th to make full payment. I am about 20 days behind. Started receiving calls re repo last week around 11/7 or 8th. 13th day late. No fault to loanmart. Was just wondering repo policy. I am the only one with a vehicle to transport children to school and doctor appt, and the jobs.

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was sent to you privately through the ConsumerAffairs website. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

3 people found this review helpful
Factual basis uncertain
Verified Reviewer
Original review: Oct. 11, 2017

They had to change their name they are so bad. I don't even have a loan through them and they are trying to repo my car constantly. Someone used my name and applied for a loan. They don't even have the title to my car is the amazing thing. I'm going to sue them for emotional stress and anxiety for how persistent yet unorganized they are.

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was sent to you privately on ConsumerAffairs.com. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

6 people found this review helpful
Factual basis uncertain
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Verified Reviewer
Original review: Sept. 28, 2017

I purchased a vehicle off Craigslist. When I went to DMV I was informed there was a title loan on vehicle. I was unable to locate person I bought it from. Loan Mart eventually repossessed it. Every important document in my life was in the vehicle. The paperwork I had on this vehicle, property deeds, birth certificates, life insurance policy to my recently deceased spouse, every title to every vehicle we had owned, etc.

I have contacted Loan Mart several times only to be told they will not work with me to retrieve my personal papers, will not tell me title loan amount, will not give me opportunity to fulfill previous owner’s debt to them. Only that I have to contact previous owner to have them approve my retrieval of listed above items. They would not give any contact info. I tried every way I know how only to come up empty. I tried name searches, address searches, tax assessors, etc. So not only am I screwed out of my vehicle plus the 4000 I paid for it all my paperwork also. This company is very difficult and unwilling to help the consumer.

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LoanMart (formerly 800loanmart.com) response

Please be advised that repossession agencies are required to collect and perform inventory of all loose personal belongings pursuant to the California Business and Professions Code. Since LoanMart is not a repossession agency and did not repossess the vehicle directly, LoanMart would not be able to respond about the property inside the vehicle. Therefore, please pursue your property claim directly with repossession agency.

7 people found this review helpful
Insufficient response received
Verified Reviewer
Original review: Aug. 29, 2017

This company told me to pay money, this was around £400, to receive my loan of £2,400 so stupidly I did. This was NEVER put into my account. To this day they give excuses, still refuse to speak to me. Appalling, they take advantage!

LoanMart (formerly 800loanmart.com) response

LoanMart takes feedback from consumers very seriously. We value our consumers and consider each complaint an opportunity to assist and serve them more effectively. Upon review of your complaint, we were unable to locate your account due to incorrect or missing information. In order for us to address your concerns properly, LoanMart would need your account number, full name, and phone number. At your earliest convenience, please email your information to compliance@loanmart.com in order to better assist you. Thank you.

6 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Aug. 25, 2017

So first off my loan was through LoanMart, I had excuse after excuse why I didn't get the money on time having to wait a week. That's nothing compared to my experience. My loan was for 2,600 I am still paying years later, totaling by pay off 9,000. The very horrible part about this is their customers service reps. In the beginning they sound reputable and professional, then I got terrified when I called to make a payment and heard rap music in the background and employees freely talking about all kinds of stuff in the background, first red flag. Then I noticed how after I got the loan all the professional behavior dropped and they became very short a rude, even flat out laughing and hanging up.

I was short 14$ two years ago and the supervisor a guy who works evenings and is an older Hispanic male, was basically laughing when I told him I lost my job. His response was, “Oh well too bad. I might as well get it now since you lost your job anyway…” Who does that? Over 14$, they didn't try to work with me nothing, that was two years ago. Today I was contacted by someone telling me, "Your account was in collection for 20$!!" I sent 180 and my payment is 200, so again over a tiny amount of money, I'm threatened with repossession, so I’ll be making that payment tomorrow. My advice is go anywhere in the world but here, or just go without the money. This place wants to take your car and make ** impossible so you can be late or repo you... PLEASE DONT DEAL WITH LOANMART. LOAN SHARKS.

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LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was mailed to you. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

12 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 21, 2017

I went into the check cashing place and one time I stopped there and asked how to go about applying for a title loan with LoanMart because I needed some money right then and there. The loan application process was fast and took about 45 minutes. The representative that was processing my application right there and the one that I spoke with on the phone were both really good. They told me everything down to what I would be paying and owing, and some other information as well. They handled my situation well.

I would not do this loan again though because, although I got good customer service, their interest rate is so high. I'm paying $150 every month extra on top of my payment for the loan, and it's like paying for another car again. I'm only going to have this loan this one time for nine months, and then I'm going to pay them off on my taxes, and after that I will never do it again because the $322 monthly payments are high. This will be my first time and last time doing this.

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13 people found this review helpful
Factual basis uncertain
Verified Reviewer Verified Buyer
Original review: May 29, 2017

I thought LoanMart were easy, quick, and simple to deal with. The application process was easy and simple. Then, I found out it will take forever to pay this off because the interest rate is too high. I can't pay my vehicle off forever. They wanted me to reduce the payment down to $311 from $404 but instead of 6% interest, I’m getting 7.5% interest. They lied to my face and said there was no way possible on that. I tried to reduce the payment to make a $100 difference for the interest rate. Nine dollars a day is a little ridiculous for finance charge.

LoanMart (formerly 800loanmart.com) response

Thank you for taking the time to share your experience with Wheels Financial Group, LLC dba LoanMart (“LoanMart”). LoanMart takes pride treating every customer with excellent personal service. A detailed response was sent to you privately through the ConsumerAffairs website. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

14 people found this review helpful
Factual basis uncertain
Verified Reviewer Verified Buyer
Original review: May 25, 2017

Please none of you trust these people. They are being investigated for several counts of fraud. Wait until you get to the end of the loan they will say you have another contract. They are Loan sharks and you will pay them $18,000 and they want more greedy business. They are all set up for fraud. They know what to do all of them. They make illegal loan rollovers excuse after excuse and came and stole my car from me and my son. And say I owe them 6,000 more after paying you $18,000 since July 2012. Also watch out for error in loan number. They also use that tactic and then you use the new loan number they give you and guess what! Yes exactly whole new contract scammers. Good try but you're busted wow! Ain't that some ---! They're all crooks. Don't let the phony reviews fool you.

28 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: May 21, 2017

My mom told me to go with LoanMart because she got a couple of loans through them and she paid them off. Her experience was good so I went with her. The loan application process was smooth, but I had a misunderstanding with the interest by rate. When they say interest, I was under the impression that would be the interest towards the whole $2500 loan. Once I paid the $1400 back, then I'll have my balance at $1100, but they said it went to $1386. That was fine. That's interest, but then they said, "On top of that amount, there's low interest daily." That's what threw me, "Whoa, still daily interest?" I'm not a dummy, so as far as the interest rate and how it goes, they should've explained it a little better.

Things have been smooth after we got that out of the way. My employee told me if I do my own payments, I was scheduled to pay the next month on the 25th. She told me even if I do it like that, I will still be paying only for six months, $320 or even less. They gave my title back, and that was fine with me. I have days where out of the $2500 loan, I paid $1400 back. Other than the interest rate misunderstanding, the customer service was great and everything was great.

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4 people found this review helpful
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LoanMart expert review by Lauren Fix

LoanMart started as a single pawn shop in 1999 in Sherman Oaks, California. Today, the company has branches in California, Illinois and Arizona and services 11 states around the country. They specialize in auto title loans.

  • Fast turnaround: Most consumers can receive their loans from LoanMart within 24 hours of applying.

  • In-house DMV: Consumers can skip the long lines and hassle of the DMV when they work with LoanMart. The company has their own in-house DMV to process paperwork and save you valuable time.

  • Five Day Peace of Mind Guarantee: Consumers who are unsure of whether or not a title loan is right for them can take comfort in the Five Day Peace of Mind Guarantee. Try your loan out for five days. If you change your mind within five days of receiving your loan, simply return the funds to LoanMart. They will waive the application fee and any other charges and fees associated with the loan.

  • Easy document submission: If you are applying for a loan online or over the phone, you can easily submit your documents electronically. Simply send a fax, email or even a picture of them.

  • Payment options: You can choose how you want to receive your money. LoanMart’s options are check, cash and wire transfer. Pick the one that works best for you, and get your cash fast. Your bank may charge for wire fees, so check with them in advance.

  • Best for: car owners who need access to cash fast.

Profile picture of Lauren Fix
Lauren Fix Auto & Finance Contributing Editor

Lauren Fix, also called The Car Coach, is an automotive and auto finance expert. Her understanding of vehicles has made her the “go to” person on TV, radio, print media and the Internet. She has authored multiple books and writes a column for several outlets, including Parade Magazine, NewsMax and Car Coach Reports. She is a regular guest on major news and morning shows, discussing the latest updates on cars and car financing that will help drivers make smart decisions when buying, maintaining and financing cars.

LoanMart (formerly 800loanmart.com) Company Information

Social media:
Company Name:
LoanMart
Company Type:
Private
Year Founded:
2001
Address:
15400 Sherman Way Suite 170
City:
Van Nuys
State/Province:
CA
Postal Code:
91406
Country:
United States
Phone:
(888) 851-2008
Website:
www.800loanmart.com
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