LoanMart (formerly 800loanmart.com)

Consumer Reviews and Complaints

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LoanMart (formerly 800loanmart.com)

Thank you for the positive feedback. LoanMart was founded on a mission to provide superior service to customers while establishing a stable, financially responsible company. Our customers and employees are the key pieces of the puzzle that make 1-800LoanMart one of the fastest growing companies in this sector.

Original review: April 16, 2012

This letter is to express my sincerity and thanks to the employee who literally saved my life. Crystal ** was contacted by me on Thursday, April 12, 2012 regarding an emergency loan urgently needed for medical and transportation expenses into UCLA Medical Center in Los Angeles. Crystal was sent all the necessary documents and within twenty four hours my loan was approved. Thanks to Crystal, as a 100% Disabled American Veteran, I was able to receive the urgent medical care needed for my War Time injury at a private facility. I commend Crystal ** for expediting my loan that literally saved the life of a Veteran that served under a War Time environment for the freedom that we most cherish in life. Now that I am much more better in my treatment, The United States Federal Government will pay for the Emergency Medical Care that I needed immediately and Crystal ** made it happen for me.

30 people found this review helpful

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This place is horrid! They don't care about anything but to charge you 100% interest and for a 2,000 loan if you get through it you will pay 8 grand to Pay it Off. They just don't care and are some of the rudest people out there. I'm not a fan of Title Loans but who is? Stay the Hell away from LoanMart. They lie about everything too! Just be careful and Buyer Beware for Sure.

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The LoanMart application process was simple. When I went online and did it, I got a call from someone. They told me everything that I needed to do. The process of taking a picture, uploading it by phone, and sending it to them made everything pretty simple and easy. I had to upload the video via email. The rep gave me the contact person to speak with and they checked everything that I needed. Everyone that I spoke with was very professional and they made the process easy for me. We did everything throughout the day and I got everything on time.

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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.

Original review: March 15, 2017

My father has recently became bedridden due to his combat related injuries. He now requires 24 hour care. Although he could have been receiving Veteran compensation for the last 13 years, he would not take the help because he felt that money should be used for veterans who had more severe injuries than him. I finally applied for that help for him and of course he was approved but will not start receiving pay until 04/01/2017. I had to take out a title loan on his transport vehicle to help offset the bills until he starts receiving his pay. 800LoanMart gave him the loan. He is insulin dependent and the brand of insulin he uses is not covered by the military. He ran out of insulin and I had to use his monthly loan payment money to purchase this medication because he can't live without it.

I contacted 800LoanMart to let them know the reason he is 3 weeks late and if they could give him until 04/01/2017 he would have more than enough to make his payments. I spoke to a boy named Ray and another boy named Brian who claimed to be a manager. I explain the situation about how ill he is and the only money he has left he would need to buy one more vial of insulin. I explained the whole Vietnam veteran information and how he would be receiving a substantial amount of money on the first. I asked them both if they could please give my father until the first. I was told by both of them that this is just business and if I didn't give them the payment today, they would repossess it. I told them that he needs that vehicle for transportation to doctor appointments that he must attend.

My father has diabetes, kidney failure, heart failure, edema, and high blood pressure. He had been given 6 months to live but the care that has been given to him has extended his life. I told both of them I gave them his last money, he could not get that insulin and he can literally die from this. The answer remained the same, they had to have that money or the truck would be taken from him and could not be retrieved if repossessed. I gave them the money with tears in my eyes wondering how to make it to the first of the month. I don't know if it was just these to guys Ray and Brian or if is 800LoanMart who do not support elderly Vietnam vets. I know of 3 other people who recommended 800LoanMart that ran into similar situations that were not as extreme. They were not only granted more time, one of them actually was able to pull their car out of repossession. I know this because I helped all three of them when I had the means to do.

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The application process was simple. I called LoanMart with any questions I had and they would answer. I'm happy with my experience so far.

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We used to go to Check Cashing and LoanMart is better. LoanMart reps are very nice. We talked on the phone and they showed us what to do. Also, it's so easy and simple to get and process the loan. I really needed the money that time. I just got a job, and they trusted me without a pay stub. I'm very pleased with my experience. They're perfect.

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Resolution In Progress
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LoanMart (formerly 800loanmart.com)

Thank you for taking 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.

Original review: Feb. 27, 2017

LoanMart is a complete rip-off. I went to them for a title loan on my car because my parents both fell ill and I didn't have money to pay for their medical bills and medications. The rep gave to me, “Yes we can help you. All you would have to do is send the required paperwork.” I got a loan for 2,600. He then told me, “Your payments will be 288 a month.” I said, “Okay good. I can pay off in no time.” I needed the money desperately.

Then I get a bill saying I owe them 10,000 dollars in total. How did I get a loan for 2,600 that increases to 10,00 over a 1 yr spanned. I went to you guys because I was broke. I been paying my 288 on time since August 2016 and I still haven't touched the base of the 2,600. I owe 2,900 now. All that money I been struggling to pay has went nowhere. I WILL NEVER REFER THEM TO ANYONE. All they keep saying is pay more. I can’t pay more. If I could I would have never borrow from LoanMart in the first place. I'm a struggling college student working and taking care of my parents.

5 people found this review helpful

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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.

Original review: Feb. 22, 2017

I am amazed at the outright audacity of (Predatory) LoanMart! Back in 2013, I had A VERY NEGATIVE EXPERIENCE so with (Predatory) LoanMart. i.e. after making six payments owing $1800 more than the actual loan amount? (True!) Made phone arrangement to pay extra fee to extend a payment out for fifteen days. YUP! YOU GUESSED IT 0300 HRS IN MORNING. Repo truck with two of the worst slime bags ever. I tell them "Nope! Not taking it!" Guy takes the keys then calls the cops, & tells them I threatened to shoot him! I just now feel safe enough to tell this part now. They charged me every fee known to the TOW Industry! Plus a towing and "Dolley" fee?!! They drove the truck to the yard! Never even on the truck, or Dolley!!!

I filed a complaint with these guys... The (Predatory) LoanMart Hip, Slick, and Cool "Answer Guy" gives me the dripping, oooey goooey "oh it's a misunderstanding, we're just here to help the little guy" canned response! Bullcrap!! Now today nearly four years later, I get a message stating that The (predatory) LoanMart contacted this site, and told them I no longer wanted to resolve the complaint!!l AWTF? I NEVER SAID ANY SUCH THING! (Predatory) LoanMart has now straight up lied to this consumers site!! They must be trying to clean up their reputation!!! If they were a real estate lender, they would be in Federal Prison very stiff penalties. These guys are a reminder to all HUMANS afraid of thugs and loan Sharks.... Run like hell!!!

4 people found this review helpful

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Somebody told me about LoanMart and the title loan. I needed some money so I went in there. They were very friendly and good. The process took a while because it was my first time doing it but everything was fine.

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LoanMart (formerly 800loanmart.com)

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.

Original review: Feb. 19, 2017

I had a title loan for about 2 years, it's for $3000. 2 years later, the loan is the same, the numbers don't go down. I think after doubling your payment they should let you out of the loan. That would be good business. $6000-$9000 at $244 per month, I should have been done with this loan. I can't even pay all of my rent every month. Also the engine went out in my car. I can't afford to fix it because of this loan. I think they should have a grace period for late payment, 10 days to be exact. I'm struggling every month. This is very depressing. Never again. By the way I borrowed money to fly to Oklahoma to see my daughter graduate from Basic Training. Army mom! Broke mom!!! Thanks LoanMart.

3 people found this review helpful

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LoanMart's website is easy to navigate and the application process for a title loan was also easy. A rep called me after I completed the application online and the whole process took a day. My only suggestion would be for a better communication. I thought I would be able to get cash but when I got to the place, it was a check and there was a charge to cash the check. I asked about a charge and they said no. I explained it to him and he said okay but he was saying that they didn't tell him that they told me there was no charge. But luckily, it went through with no problem. Maybe in another situation, they should say, "Oh, no. You have to pay this fee."

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Recently needed some quick money for a small procedure and I didn't want to wait to save up the money, so I started exploring options. Saw an ad for 800 LoanMart and gave them a ring. After getting together the docs they asked for, took about a day to get my money wired. Thankfully I had the procedure and now will pay down the loan. I spoke to a few agents along the way and they were all helpful.

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LoanMart (formerly 800loanmart.com)

Wheels Financial Group, LLC dba LoanMart (“LoanMart”) has received your complaint. Upon review of your complaint, LoanMart was unable to provide a thorough investigation due to missing information. In order for LoanMart to address your concerns properly, LoanMart would need the vehicle identification number (“VIN”). Please email your information to compliance@loanmart.com. Thank you.

Original review: Feb. 10, 2017

Let me start off by saying LoanMart "stole my car". I never had a loan with them. They came on my property and took my car claiming I owed a loan. I am have a clean title "no liens" in my name. I was told from them the previous person that had the car before me took out a loan. Wt? I have a clean title from the DMV. That's impossible. I will be working with the BBB also. It's been 4 days and they haven't returned my car either. Please save yourself time with this company. They are frauds.

3 people found this review helpful

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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.

Original review: Feb. 7, 2017

I will make this simple. I paid off my VW SUV with $15,000. It was a 2004. I later moved my family back to California from the East Coast and decided to take a loan with 1800 loan mart so that I may use the funds as business capital. LoanMart loaned me $6,900 and I paid $331.00 back monthly. 3 years later, after the loan was paid off, LoanMart tells me that I still owe another $6,900!! This company seems to be ran by gangsters. After paying them $12,000 plus dollars back and refusing to pay them anymore, they had a tow truck come to my house at 3 am in the morning and woke up my children and I.

They tricked me by saying that the sheriffs were coming and that I was breaking the law. I was over it, and gave them the keys because I just wasn't going to continue to be robbed of my hard earned money. LoanMart later charged me for a "Key fee", a Tow fee, a storage fee and they sent me a letter saying that I still owed them $8,000!! I truly don't see how these people sleep at night. Accept perhaps on their goose feathered pillows that others pay for through the outrages loans that we stupidly agreed to.

5 people found this review helpful

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Factual basis uncertain

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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.

Original review: Feb. 3, 2017

I do not I repeat do not recommend this company at all. I just got married last year in July and needed an emergency loan so I called over the phone to get one to cover the payment for my wedding. So here I am with this title loan that I now learned is increasing everyday! How the hell do they expect someone to pay off a loan that keeps adding the previous payment back to the original loan amount. I started at 5800 for my original loan amount... and now I'm at 7200 after I have made 6 payments of $525. One would think they were almost done paying off their balance. I wish I would have known about the illegal daily interest rates that they don't tell you about over the phone. That's the way I did mines smh.

If I would of known I would be this stressed out and manipulated by this company I would of just waited to get married but unfortunately it was a week later and we had a family financial emergency. This is the worst memory to have after a wedding year knowing that this company is practically stealing money from people with their rules you can't get out of. I'm seeking legal help so if anyone is willing to join me please contact me asap!!

Their rates aren't right and it doesn't make sense why a company would even operate this way. You should want people to come back not stay away. I bet most of their good reviews are from people who borrowed small loans because anyone with bigger loans wouldn't be on their website mentioning how happy they were... it doesn't make sense. I'm miserable and struggling because of this!

3 people found this review helpful

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Thank you so much LoanMart. You guys really came through for me in my time of need and saved me and my family from having to get kicked out of our apartment. Your customer service, professionalism and speed of funding was amazing!! THANK YOU!!!

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LoanMart (formerly 800loanmart.com)

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. LoanMart believes that its response adequately addresses your message.

Original review: Jan. 16, 2017

My vehicle was in a collision and totaled. The insurance did not cover the damage. I was a month behind on my loan and called to make a payment and request a settlement amount. I made the last month's payment and scheduled the current month payment. The payment was processed successfully and the 800loanmart rep said he would put in a request for a couple of options. 3 days later at 4am a tow truck removed the damaged vehicle from my driveway and repossessed it. How does repoing a vehicle officially registered as salvaged make any sense. Especially when I was caught up and looking for options to make LoanMart whole and satisfy the loan.

Deceitful and misleading practices by the collection team even after 3 years of on time payments. The original loan had been paid back 2x over and the vehicle is inoperable yet 800loanmart refuses to work with me and instead make false agreements for short term compliance. Never ever take out a title loan. You become chum in the bloody waters of Wall Street.

4 people found this review helpful

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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. LoanMart believes that its response adequately addresses your message. If you have any questions, please contact compliance@loanmart.com.

Original review: Jan. 8, 2017

I called about paying off my loan faster. The guy said when I make a payment pay extra and tell the person to place the additional amount on my finance charge. I tried that a few times and the lady argued with me and said it doesn't work like that and she's been there a long time. I have paying on my loan for over two years and still have a balance of 14 hundred dollars off of my initial loan of 25 hundred. I don't understand how that's possible. I have been discouraged of paying extra for it doesn't change the loan finance amount. 5 dollars a day still after over two years of paying 249 dollars a month on time and extra. I have now paid six thousand dollars on my 25 hundred dollar loan.

7 people found this review helpful

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Factual basis uncertain

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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.

Original review: Jan. 5, 2017

Yes they will approve you, but the moment you are behind a payment they threaten to take your car. I had to go on an unpaid medical leave 12/08/2016. Payment was due 12/28/2016. Mind you I never missed a payment until now and I am 6 days late and they are already threatening me to take my car and saying I'm in deep water if I don't pay. I will be paying it off in February and I will NEVER get another loan again, it's not worth it and they lie to you to bait you in.

4 people found this review helpful

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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.

Original review: Dec. 23, 2016

I do believe they take a terrible advantage of people who are in an already compromising position to even need a loan like this in the first place. They are like the hogs who get slaughtered. I am trying to pay off a loan and they make it so inconvenient to do so. You are able to pay your monthly payments online on their website but if your payoff is more than double your monthly payment, you have to go into a Wells Fargo branch or one of these check cashing places. They also do not allow you to make a payment that is more than double your monthly payment on the website, even if you are not trying to pay it off, but want to make a dent in what you owe. I think this creates an unfair barrier to the poor people who have to work all day and do not have the time to go to a branch or go to a bank... and in the meantime, the interest increases. Why can we not do a payoff on the website? Thanks.

9 people found this review helpful

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LoanMart (formerly 800loanmart.com)

Wheels Financial Group, LLC dba LoanMart (“LoanMart”) is in receipt of your ConsumerAffairs.com complaint submitted on December 15, 2016. LoanMart values its customers and considers each communication an opportunity to assist and serve them more effectively. Unfortunately, based on the limited information provided in your complaint, LoanMart is not able to identify an active account in your name. To have your dispute investigated and resolved, please contact LoanMart’s Compliance Department by mail at P.O. Box 260210, Encino, CA 91426 or by e-mail at compliance@loanmart.com.

Original review: Dec. 12, 2016

I currently have a title loan with them and I received an email advising I can extend a loan to skip a payment. I completed this and used an esignature to complete this offer. After receiving confirmation the document was received I received a msg from them and when I called the person told me to disregard the call. Instead I called the next day and requested to speak with the person who called me. He said he did not receive payment. I told him I completed the extension and gave the name of the person I emailed this to. He had no clue this was done said he would look into it but as long as I completed it then it was fine.

I come home. They towed my car smh. I cannot wait until they open in the morning. The employees do not communicate nor do they follow through. They never know what the other is doing. Glad I kept all copies of email correspondence as well as took down names. I would not recommend them and I will be looking into other ways to post more complaints. If anyone has experienced anything similar pls email me **. I read a few comments already of other customers dealing with similar issues.

6 people found this review helpful

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Resolution response: Dec. 6, 2016

They sent me a letter stating how much they sold the car for and the excess is coming in the form of a check..still not happy about how they took my car after letting me believe that we were doing a payment extension but at least we walk away with something.

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LoanMart (formerly 800loanmart.com)

Wheels Financial Group, LLC dba LoanMart has received your messages through ConsumerAffairs.com. LoanMart values its customers and considers each communication an opportunity to assist and serve them more effectively. It appears that you notated on ConsumerAffairs.com that the matter is resolved. Should you have any questions or concerns, please do not hesitate to contact compliance@loanmart.com.

Original review: Dec. 5, 2016

They took my 2011 Jeep and wrongly did so. They sent me an email and asked if I would like to extend a payment out and I agreed and sent the email back after receiving confirmation of this agreement. They took my car that evening. They waited till me and my family went into the store and then took it. We got a letter stating they were gonna sell the car at a auction and if we needed more time to send a letter which we did by certified mail. Since that time we have heard nothing. I have tried calling several times and they refuse to talk to me fine. No biggie. Don't talk to me. You will talk to our attorney.

I am sure they sold my car which it is what it is but the car value is much more than we owed so I want our check. You guys owe us money. We know you are going to try the we only sold your car for this crazy low amount. Sorry that's not gonna work either. Did I mention that I have statements that are all different amounts and crazy accounting that does not even add up correctly. When we figured this out is when we chose to get attorney. Bring it LoanMart. I am ready to fight back.

Updated 12/10/2016: I wrote a review on Loanmart few days ago. I had my car repoed. After they made a offer of lowering my payment and extending a payment out we signed the agreement and then they repossessed the car anyways. Then they disposed of car and they had sold it for almost 9 grand more that what we owed so we are due money from them. They said 15 days from sale and my husband noticed that at the bottom of this letter there is a paragraph stating that the surplus amount can change if they need to do debits or withdraws or if basically something arises... are you serious? So what that tells me you took my car ,sold it and made 8 grand more than I owed and if you choose to take more then that's ok and it's up to them to take more if they want to... who do these people think they are?

I have emailed the compliance department and guess what of course no reply. Loanmart you are holding money that does not belong to you. You have been paid now you are holding MY money and I want my money. I should be able to charge you high interest for each day you have my money. I am sure if it was me doing the same to you I would be in big trouble and every employee you have would be calling to threaten me. My loan is paid off with you people. Please send us the extra money that does not belong to you. Please I don't care about your generic response that you are gonna send. Every person gets the same response... "we have checked into this and have sent a detail letter by us mail... or please if you have further concerns contact the compliance department." I have done this several times with no reply.

9 people found this review helpful

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This company preys on desperate people who are down on their luck. Unfortunately, I was one of those people. I knew that my APR was going to be 300%, but I wasn't aware that they charge you interest by the day. After paying for 1 year, nothing has kicked in into the principal and my original loan of $5,400 has racked up to $9,000+ thanks to interests. Yes, I have only myself to blame for taking out this outrageous loan, but their business model is just shady. Worst than a pimp. Lowdown dirty loan sharks, I tell you! Don't ever deal with 800Loanmart even if your life depended on it, unless you can pay them off in one fell swoop, otherwise you are better off borrowing from family and friends or a payday lender.

17 people found this review helpful

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LoanMart (formerly 800loanmart.com)

Wheels Financial Group, LLC dba LoanMart (“LoanMart”) has received your complaint dated November 13, 2016 to the Consumer Affairs. LoanMart values its consumers and considers each complaint an opportunity to assist and serve them more effectively.

Your complaint appears to be raised on behalf of an accountholder. In order to assist you and address account information, please have the accountholder contact LoanMart so LoanMart can provide the accountholder a third party authorization form to complete.

Should you have any questions and concerns, please contact the Compliance Department at compliance@loanmart.com.

Original review: Nov. 11, 2016

In 2013 my husband and I took a loan out from LoanMart for 4500. At that time the contract read payments for 36 months at $365.29 however it is now 2016 and LoanMart says I still owe them over $5,000. In reality in order to abide by the original contract I need to pay $625.14 but LoanMart says that I owe them 29 more months of payments which will make the payments $7,000. I read earlier that someone wanted to do a class-action against them. Well I totally agree with them. I would like to also be in on the class action lawsuit against them. I received a call today from a very nice lady asking me when they can come and pick up my car. I told her I am not surrendering my car. It is unfair of what LoanMart is doing. I spoke to a man a couple of days ago and he told me the extra money that they are trying to collect his own interest. I told him that is not fair. I think if we all Stand Together in this matter we can get a class action lawsuit against them.

19 people found this review helpful

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This is predatory lending at its finest. I as well, was paying on a 2300.00 loan for two years and still owed 2300.00 at payoff time. They used every excuse in the book to give reason as to why this loan amount was not reduced. I am not going to waste time writing too much on this because it is plain and simple - they want your car and they are going to get it. Unless you do not want to ever hold title to your vehicle again I strongly urge you to do something else to fix your problem. You will never pay it off and you will be paying a large payment every month with a very large interest rate. The people that work there are asses and the customer service is the worst I have seen in a long time. GOOD LUCK.

11 people found this review helpful

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Insufficient response received

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LoanMart (formerly 800loanmart.com)

LoanMart values its customers and considers each communication an opportunity to assist and serve them more effectively. Unfortunately, based on the limited information provided in your complaint, LoanMart is not able to identify an active account under your name. To have your dispute investigated and resolved, please contact LoanMart’s Compliance Department at compliance@loanmart.com.

Original review: Nov. 5, 2016

When we request information in regards to our personal loan account: Payment History, Original Loan Document with original amount borrowed, why are we not allow to have? Why the secrets? Answer here to all.

5 people found this review helpful

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Factual basis uncertain

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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 or concerns, please contact compliance@loanmart.com.

Original review: Oct. 30, 2016

I have paid $4000 in less than two years for a $1500 loan and my balance is $1455. LoanMart has you sign at a extraordinary interest rate which was against the law up until a few years ago. The use of the term "title loan" to get around the legal interest rates for cars allows them to circumvent the law. How, Who, and why did our State elected officials, as well as, Federal officials approve the biggest scam and rip off of consumers in the history of our country. The laws created to protect consumers were established at fair rates. LoanMart rates are over 5 times the legal limit for a car loan. How these gangsters were able to get this approved is beyond me. Clearly it had to involve some illegally paid money to a few of our elected officials. This has got to be stopped. The FBI and Treasury department needs to get involved and charge the politicians that approved these laws designed to undermine the Consumer protections put in place.

There are some legal issues which must be researched further: LoanMart uses agents to process the loans and in my case the agent failed to point out further information carefully hidden within the agreement as to future increases in rates if you are late. Their terms do not clearly define late payments. For example they say there is no penalty for early payments, but there is. Early payments are not reflected in the determination of a late payment. In other words if you make two payments in January which covers February and then do not make a payment in February you are penalized for being late in February which kicks in a large amount of late fees. By making your payment early they actually charge you more money because you will considered late even though you actually paid the payment 30 days early. You can borrow money from organized crime at a much lower rate.

6 people found this review helpful

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Resolved outside ConsumerAffairs

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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

Original review: Oct. 20, 2016

Loan you money on your car title but you never finish paying them. I got a title loan of 8,000. As of today I was told I've paid 20,000. My maturity date for pay off is in March. Now I find out that it will most likely be another year due to interest. That's crazy and being less than 13 days late 6 times in the 3 years.

6 people found this review helpful

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Factual basis uncertain

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LoanMart (formerly 800loanmart.com)

Thank you for taking 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 or concerns, please contact compliance@loanmart.com.

Original review: Oct. 8, 2016

I pawn my car for $2500 and have been paying it for more than a year and I still owed more than $4000 and for less than a month they will repossess the car. People who work for them are mean and stupid. I talked to the employee that I will put my money in the bank before 4pm so they can take it at 5pm, instead she ordered to repossess my car wherein she was the one who suggested not to cancel the payment schedule. She is stupid. They took my car after being delayed of paying for only 28 days which I send the payment but they said they didn't receive it so I just gave them the car. They send me a letter that I will pay $980 to get the car back, they have it. It worth to continue paying it, it's like 50% interest. I don't suggest this company to anyone.

10 people found this review helpful

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Insufficient response received

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LoanMart (formerly 800loanmart.com)

Wheels Financial Group, LLC dba LoanMart (“LoanMart”) has received your complaint dated October 9, 2016 to the Consumer Affairs. LoanMart values its consumers and considers each complaint an opportunity to assist and serve them more effectively.

Your complaint appears to be raised on behalf of an accountholder. In order to assist you and address account information, please have the accountholder contact LoanMart so LoanMart can provide the accountholder a third party authorization form to complete.

Should you have any questions and concerns, please contact the Compliance Department at compliance@loanmart.com.

Original review: Oct. 7, 2016

My 23 year old daughter thought it would be a good experience and show her independence by getting a $2500.00 loan on a car I purchased for her. So far we have paid over $1000.00 and she still owes $2490.00. This company is loan sharking on the youth and the financially challenged. I've had numerous conversations in an effort to pay off my daughter loan and they refuse to accept my money as I am not on my daughter's loan. Absolutely disgraceful.

10 people found this review helpful

LoanMart (formerly 800loanmart.com) Company Profile

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
Website:
http://www.800loanmart.com/