LoanMart Reviews

formerly 800loanmart.com

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About LoanMart

LoanMart connects consumers with the cash they need through several options, including car title loans. Credit issues aren’t a problem. Customers can apply in minutes and get their cash in just hours. Contact LoanMart to see your borrowing options and full disclosures.

Pros
  • Get approved in less than an hour
  • Get funds in as little as a day
  • Good credit isn’t required
Cons
  • High interest rates

LoanMart Reviews

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    2 featured reviews
    How do I know I can trust these reviews about LoanMart?
    • 4,898,292 reviews on ConsumerAffairs are verified.
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 7 Reviews 835 - 1035
    Verified purchase

    Reviewed Jan. 13, 2012

    Overall it was good. It took a lot long than I was told, but not too bad.

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we welcome feedback from our customers. We thank you for taking the time to share your experience and letting us know where there may be room for improvement

    Verified purchase

    Reviewed Jan. 5, 2012

    Thank you very much for taking a chance with me. I was in a serious financial crunch and 1800LoanMart made the difference in me keeping my house. I appreciate you in every way. God bless you and thanks again.

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    LoanMart
    Response from LoanMart

    Thank you. We're happy to have been a part of the solution.

    Verified purchase
    Staff

    Reviewed Jan. 3, 2012

    Emmanuel did an excellent job for us. Everyone was extremely helpful and pleasant in explaining everything to us. I would definitely recommend you service to everyone I know!

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    LoanMart
    Response from LoanMart

    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.

    Verified purchase
    Staff

    Reviewed Jan. 3, 2012

    Everyone from start to finish was great! They explained the loan process very well, leaving no need for future questions. Thanks a lot for the great service.

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    LoanMart
    Response from LoanMart

    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.

    Customer ServicePunctuality & Speed

    Reviewed Dec. 23, 2011

    1800LoanMart received a double payment from my bank which was an error. I tried to get the money back from 1800LoanMart, after I explained that it was an error. 1800LoanMart has given me the runaround for over a week. They have lied to me consistently that the payment was being processed. They have hung up on me and gotten me on hold for long periods of time. I have yet to receive my refund of 1800LoanMart. I am still getting the runaround from them. It is Christmas and they have let me with no money for bills or Christmas for my family. I am a single mom. I guest this is how 1800LoanMart repays its customers who pay their loan on time and over the amount that is due. Their customer service leaves a lot to be desired.

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    LoanMart
    Response from LoanMart

    Per Ms Times statement, the double payment we received in December 2011 was an error made by her bank. Ms. Times contacted our office on 12/19 to inform us of the error, at which time we advised it would take 3-5 business days to reverse the transaction electronically. Ms. Times then asked with holiday fast approaching, if we would refund her with a company check versus the an electronic reversal. Understanding the urgency to receive the refund, we replied that in order to accomodate her request she would need to provide at least a copy of her (online) bank statement showing the erroneous debit for our accounting records. We received a fax copy of the bank statement on 12/22, requested a check be cut and sent it via FedEx on 12/23. Upon review of the complaint and servicing notes, the Customer Relationships Manager determined we expeditiously handled our customers request to rectify an error committed by her bank.

    Factual basis uncertain
    Verified purchase
    Staff

    Reviewed Dec. 23, 2011

    You have been more than patient with me due to the illness in my family. I thank you very much for your understanding and concern.

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    LoanMart
    Response from LoanMart

    Thank you. We're happy to have been a part of the solution.

    Verified purchase
    Staff

    Reviewed Dec. 16, 2011

    Thank you so much for your help. This will be a Happy Christmas for my young lady who has not seen her family in almost 13 years. This is my Christmas present to her. Thank you.

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    LoanMart
    Response from LoanMart

    Thank you. We're happy to have been a part of this special occasion.

    Verified purchase
    Customer ServiceStaff

    Reviewed Dec. 2, 2011

    Excellent in store customer service -- Nicole, I must say is great! She went above and beyond the normal service. I will refere people there just because of her!

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart's vision is to become the national leader in non-traditional lending services through a diverse portfolio of lending products, fast and friendly customer service and the use of cutting-edge technology.

    Verified purchase
    Customer Service

    Reviewed Nov. 22, 2011

    I am very happy with the service here. I want to thank Perla for her outstanding services and follow up calls or else I would have never completed this deal! She deserves a raise!

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart's vision is to become the national leader in non-traditional lending services through a diverse portfolio of lending products, fast and friendly customer service and the use of cutting-edge technology.

    Customer ServiceStaff

    Reviewed Nov. 19, 2011

    I hate these people. The title loan is being paid off and they were called requesting the pay off amount. They in turn called me asking about the car and telling me that they were approached about pay off. They also asked where the car is. They asked about the condition of the car etc. If the loan is being paid off, why are you calling and harassing me? You'd think they'd want it paid off. The guy wanted to sit up and argue with me about the car. They badgered me about a payment although they were informed of a payoff, so I made one online. They claimed they didn't get it. I will never and I mean never take out a title loan again.

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    LoanMart
    Response from LoanMart

    The management team at 1800LoanMart welcomes customer feedback – be it positive or negative. Every customer concern is taken seriously and is fully investigated.

    Verified purchase
    Staff

    Reviewed Nov. 16, 2011

    I had a good experience from start to finish. The people at the check place are very professional and helpful. Reggie at Loan Mart was truly the person that assisted me to make the best decision about this loan and was very informative and professional.

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    LoanMart
    Response from LoanMart

    LoanMart encourages its employees to achieve personal success and based on your positive feedback, we've accomplished this goal. Thank you for taking the time to share your experience.

    Verified purchase

    Reviewed Nov. 15, 2011

    I truly want to take the itme to thank each of you at 1-800 Loan Mart. You are truly a blessing in this time of an emergency. I am grateful for you trust. I will honor it by making my payments on time. Thank you, again!

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    LoanMart
    Response from LoanMart

    Thank you. We're happy to have been a part of the solution.

    Verified purchase
    Customer ServiceStaff

    Reviewed Nov. 10, 2011

    The service was great! The lady that helped me was nice on the phone and the lady in the office was great. The only issue I had was that no one told me that I needed a spare key. So I drove to the location and then had to drive back home because I didn't have one. Other than that it was a good experience.

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we are happy to hear feedback from our customers. We thank you for taking the time to let us know where there may be room for improvement

    Verified purchase
    Punctuality & SpeedStaff

    Reviewed Nov. 7, 2011

    Service was helpful and quick. They did what they could to give me what I needed. The only thing that was bad was they said that a check cashing place could give me money back with no charge, and that's not true.

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we are happy to hear feedback from our customers. We thank you for taking the time to let us know where there may be room for improvement

    Verified purchase
    Customer ServiceStaff

    Reviewed Oct. 24, 2011

    I have never seen or heard of anyone who is so awesome, than the lady that submitted my loan to you! I also am very happy with the loan assistance received on the phone. His service was awesome! Thank you all so much for doing what you do so well.

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    LoanMart
    Response from LoanMart

    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.

    Verified purchase
    Customer ServicePunctuality & SpeedStaff

    Reviewed Oct. 24, 2011

    I really liked the service and the help but, I had a lot of difficulties with your service over the phone. It was frustrating because of the amount of time I had to wait in line. Your staff, however, is very efficient and nice!

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we welcome feedback from our customers. We thank you for taking the time to share your experience and letting us know where there may be room for improvement

    Verified purchase
    Customer ServiceStaff

    Reviewed Oct. 24, 2011

    I have never seen or heard of anyone who is so awesome as the lady that submitted my loan to you. I also am very happy with the loan. Reggie on the phone, all he said was true and his services were awesome. Thank you all so much for doing your jobs well.

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    LoanMart
    Response from LoanMart

    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.

    Reviewed Oct. 22, 2011

    As of today, I have paid $1,985.22 toward a $2,600.00 loan. I should owe about $648.36, but they are saying that I owe almost the value of the loan at about $2,533.50.

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    LoanMart
    Response from LoanMart

    To address Laura's concerns about her the principal balance of her loan, one of our service representatives contacted her and dutifully explained loan amortization (how to pay down the principal balance). Laura better understood her loan terms and continued making payments. And when her principal balance was paid down, eventually sought another loan from us.

    At 1800LoanMart, we value our customers and strive to project a positive brand image.

    Resolved outside ConsumerAffairs
    Verified purchase
    PriceStaff

    Reviewed Oct. 21, 2011

    Services were expeditious and courteous. Although, I am in a tight financial position and your interest rates are a bit more than they need to be in order to provide service. Please consider the working class wanting to make it too! Thank you.

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart's vision is to become the national leader in non-traditional lending services through a diverse portfolio of lending products, fast and friendly customer service and the use of cutting-edge technology.

    Verified purchase
    Customer ServicePrice

    Reviewed Oct. 18, 2011

    Good customer service. Made it very easy. Interest rate is high, but what are you going to do?

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart's vision is to become the national leader in non-traditional lending services through a diverse portfolio of lending products, fast and friendly customer service and the use of cutting-edge technology.

    Customer ServicePriceStaff

    Reviewed Oct. 14, 2011

    They have a terrible customer service. We were approved for the loan. After my husband and I have discussed the down side of taking out a loan on a paid vehicle, which was well over the amount we needed at the time, we decided it was not in our best interest to go through with the loan. The interest rate was astronomical, which would make our temporary financial situation even worse. Upon calling the loan agent and explaining our reason for deciding against the loan, she became very rude, and she said, "Then, I will turn down your loan!" She then slammed the phone down.

    I called back and spoke to her manager, who said he was standing right next to her when we spoke, and that she never said that, nor did she slam the phone down. How convenient that he was standing right next to her. I strongly discourage anyone from doing business with predatory lenders that are rude to their customers. We went to our local bank and got a small loan for the amount we needed.

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    LoanMart
    Response from LoanMart

    The management team at 1800LoanMart welcomes customer feedback – be it positive or negative. Every customer concern is taken seriously and is fully investigated. We learn how to grow from our customers and use customer feedback as a coaching/training opportunity. The Customer Relationships Manager spoke to all documented parties who had contact with these borrowers and was unable to substantiate their claims.

    Factual basis uncertain
    Customer Service

    Reviewed Oct. 12, 2011

    I took out a $5,000 loan against my SUV. I made the first payment 10 days early. I found myself in a position to trade in my SUV with a new Car (saving me $400 month just in gas). I called LoanMart , got my payoff and traded in my SUV for a new car at a Dealership. The Dealership even called LoanMart for the payoff.

    Well, my second payment would have been due today. They called me and asked when my payment would be made, I told them I had traded the SUV in and the dealership would be paying them. They said I needed to make a payment today or they were going to pick up the SUV. I told the person I spoke with that I would get in contact with the dealership and have the dealership contact them.

    I called my Dealership and I was informed that they did have the payoff and they had spoken to LoanMart and did not understand why they were contacting me. So I called LoanMart and asked why they called and told me that. I even gave them the number that came up on my cell phone and they said that was not one of their phone numbers. I was basically told I had no right to trade in my car with out there written approval. However, they did see in the computer that I called and the dealership called for a payoff.

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    Verified purchase
    Staff

    Reviewed Oct. 4, 2011

    I was very satisfied with the service that I received. Everyone was nice and courteous. The service was also done in a timely manner.

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart's vision is to become the national leader in non-traditional lending services through a diverse portfolio of lending products, fast and friendly customer service and the use of cutting-edge technology.

    Customer ServicePriceStaff

    Reviewed Oct. 3, 2011

    I applied for a loan at 800Loan Mart through the internet. I was approved for up to $7900. I only wanted to borrow $7000. Someone finally contacted me via telephone a few days later. All they wanted me to do was to send them all my information (e.g. pay stubs, pink slip, etc.) before they gave me the loan terms. Finally, I spoke with my "account manager". She was a very rude lady, talking to me as if I was a kid. I told her to give me the loan terms before I went any further. She told me that for a $7000 loan, I would have to pay $661 a month for 36 months. That's $23,796 for a $7000 loan. I've heard of high interest loans but this was absolutely crazy.

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    Factual basis uncertain
    Customer ServicePunctuality & SpeedStaff

    Reviewed Sept. 28, 2011

    The company’s agents are very rude and harassing. I was late with my payment due to hours being cut at work and they called. It was a Wednesday and I told them I could pay on Friday. They told me no it had to be done before that and that they couldn't guarantee that the car wouldn't be taken.

    They then want to ask a lot of personal information like: what are your hours and when do you get to work. Initially, the loan was supposed to be for $2,500 and now I owe literally double that.

    They told me that I only paid the loan amount when the papers were signed. They will act as if they don't know how to reach me and call me references instead of contacting me.

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    Factual basis uncertain
    Customer ServicePriceStaff

    Reviewed Sept. 22, 2011

    I borrowed a total of $2500 on my 96 Ford Mustang GT. I missed a payment due to financial obligations but was in constant contact and always returned calls. Today, I spoke with a representative while trying to make a payment, after being transferred 4 times. He spoke down to me and treated me as if I was a scum. I articulate my vocabulary and being a business person would never say the things that were said to me. The representative continued to degrade me, talking about where I live and that I live in the "ghetto".

    During our hostile conversation, he belittled, demeaned, and badgered me. I quote "You sound like a drunk. You slur everything together like your on some drugs." "I'm sure you don't even have a college degree since you can't understand anything I'm talking about.", "You lied about your car and we're gonna get you for fraud.", "I'll come find you and take your car and you can't do anything about it".

    This is totally unacceptable and just outright wrong. I was passed my due date to make a payment and was trying to pay over the phone because I didn't have enough time to stand in line for hours at a "money gram" place. This treatment should not be allowed and termination should be the final outcome when a representative like him is speaking with a customer. Our conversation would not end even though I demanded that I speak with another representative and refused to further speak with this, for lack of better words, "**". I ended this horrible start to my day by hanging up. I was shaking and was so angry and I passed around for about 30 min. Still as I'm writing this, I couldn't believe that I was treated in such a foul, disgusting way. I'm a veteran and so is my husband. We served and my husband was also a firefighter/paramedic for 15 years. This is how upstanding citizens get treated with this company. If I knew their corporate office, I would have demanded some kind of repercussion for speaking and treating people like that.

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    Insufficient response received

    Reviewed Sept. 21, 2011

    I got a loan for $5,000.00 and have made 5 payments for $453.06. I requested a payoff amount today and it is for $700.00, which is more than I borrowed! When people are at their most desperate and vulnerable times, I find it hard to understand why a company is able to prey on them to this extent.

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    LoanMart
    Response from LoanMart
    In accordance with the State Department of Corporations and our own best practices, every borrower is presented a Promissory Note and Security Agreement which contains a section titled Simple Interest Loan & Your Payments. This section explains "Your final payment may be different than the amount disclosed under the Payment Schedule if you make your payments after the date they are due". It also goes on to say "We earn the Admin. Fee (Prepaid Finance Charge) in full on the date this loan is made." At the customers request, we'll provide and review with them an ammortization of their loan pay history to ensure they understand no money was collected, outside of the agreed upon terms and agreement.

    1-800LoanMart takes great pride in being a financial resource for those in need of quick or long term cash loans.

    Factual basis uncertain
    Verified purchase
    Staff

    Reviewed Sept. 20, 2011

    Everyone that I spoke with regarding my loan was very patient, understanding, helpful, courteous, and professional. This is my first, and I hope last time, I will have to go through this experience. When I go back to work, I will try to make extra payments. We researched many many on-line lenders and your company 1-800loanmart is rated A+ with the Credit Bureau, and most of all, your employees are great! I really like Crystal and her team. They have excellent service and are very professional, -Thank you.

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart's vision is to become the national leader in non-traditional lending services through a diverse portfolio of lending products, fast and friendly customer service and the use of cutting-edge technology.

    Verified purchase
    PriceStaff

    Reviewed Sept. 13, 2011

    The interest rate was very high! I hope you can somehow lower it for me. I thank you for your help. Reggie and Wanda should get a raise, due to their excellent service, care, and even more!

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart has worked hard to establish an outstanding reputation for quality service and credits our dedicated employees to our success.

    Verified purchase
    Punctuality & SpeedStaff

    Reviewed Aug. 30, 2011

    I would like to say something about your service. I had such a wonderful lady named, Maria, That helped me. She was just so kind, and her service was fast and friendly. I would recommend people to this service, and you should give Maria a RAISE!

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart has worked hard to establish an outstanding reputation for quality service and credits our dedicated employees to our success.

    Verified purchase
    Customer ServicePriceStaff

    Reviewed Aug. 26, 2011

    We are very grateful for this service. Thank you for all of your help. We has some difficulty at times, with prompt feedback or receiving phone calls back. We experienced a lot of frustration with having to repeat taxes totaling of 25 papers 3 different times costing a total of $20. We often didn't receive returned calls when promised. But everyone we spoke to was polite, professional, courteous, and knowledgeable.

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we welcome feedback from our customers. We thank you for taking the time to share your experience and letting us know where there may be room for improvement

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 15, 2011

    Thank you all for your generosity in the time of needs. We will promise you to pay back our loan. The customer service you gave was excellent -- from the first time we called in until after we got the loan. Continue the excellent job.

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    LoanMart
    Response from LoanMart

    Thank you. We're happy to have been a part of the solution. LoanMart has worked hard to establish an outstanding reputation for quality service and credits our dedicated employees to our success.

    Reviewed Aug. 11, 2011

    My insurance co. paid off my loan, due to total loss, I requested a breakdown of final payment from 1800loanmart because the amount did not seem correct, I borrowed $7500.00 paid for six mos. And the payoff it was $8467.00. and of course I wanted a breakdown. No response yet.

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    Verified purchase
    Staff

    Reviewed Aug. 9, 2011

    I am very pleased with your services. I was afraid to do this but, seeing how professional you guys are made me feel very comfortable. Thanks =)

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we are happy to hear feedback from our customers. We thank you for taking the time to let us know we are on track with our Vision and Values.

    Verified purchase
    Staff

    Reviewed July 29, 2011

    Thank you so much! The associate was very friendly, knowledgeable, and helpful to me. I would highly recommend you services to others in need of financial assistance!

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we are happy to hear feedback from our customers. We thank you for taking the time to let us know we are on track with our Vision and Values.

    Verified purchase
    Staff

    Reviewed July 8, 2011

    I want to thank everyone at Loan Mart for a pleasant and patient attitude. You all worked with me in a professional manner. I would recommend you to anyone!

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we are happy to hear feedback from our customers. We thank you for taking the time to let us know we are on track with our Vision and Values.

    Verified purchase
    Staff

    Reviewed July 7, 2011

    The ladies there are very helpful and they all know what they are doing. Although, I am at a hard time in life, they have really been able to make me really really comfortable. I wouldn't mind doing it again in the future.

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    LoanMart
    Response from LoanMart

    Thank you for taking the time to share your experience. We're happy to have been a part of the solution. LoanMart encourages its employees to achieve personal success and based on your positive feedback, we've accomplished this goal.

    Verified purchase
    Customer ServicePunctuality & SpeedStaff

    Reviewed July 6, 2011

    Overall, the service was great. However, I was told to report to the location where I would sign the contract and was told a specific time. I signed the contract exactly and hour and forty-five minutes later that I was told. Perhaps in the future an approximate time can be given.Customer service is ideal, yes your company is doing customers a service but in order to retain those customers Loan Mart needs to stay ahead of the competition. Besides that, the overall service was great, fast, and the representatives were courteous as well as friendly.

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    LoanMart
    Response from LoanMart

    Be it positive or negative - we welcome feedback from our customers. We thank you for taking the time to share your experience and letting us know where there may be room for improvement

    Verified purchase
    Customer ServiceStaff

    Reviewed June 28, 2011

    Loan Mart's, Wendy, was very helpful to me and my husband! She even called us to make sure we had everything we needed. Also, the girl at pick-up was very nice as well and gave us good advice!

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    LoanMart
    Response from LoanMart

    LoanMart encourages its employees to achieve personal success and based on your positive feedback, we've accomplished this goal. Thank you for taking the time to share your experience.

    Reviewed May 27, 2011

    The ads were too good to be true, which should have been my first sign. I borrowed $2,500. I paid faithfully for six months ($250 per month). I was late on my seventh payment and told that my loan is upside down at $2,800. This is predatory and I will definitely be contacting the attorney general about this. This has to be illegal. I will have to find a way to pay this loan off on my own.

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    Verified purchase
    Customer ServiceStaff

    Reviewed May 17, 2011

    Everyone was very helpful and friendly. We called RPM Lenders first but were very disappointed in their service and questions. We were delighted with the service we received at Loan Mart!

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    LoanMart
    Response from LoanMart

    Thank you. LoanMart's vision is to become the national leader in non-traditional lending services through a diverse portfolio of lending products, fast and friendly customer service and the use of cutting-edge technology.

    Reviewed April 26, 2011

    So let's be clear. I did not take out a loan with LoanMart. But I was contacted by them to find an individual that took out a loan with them. I told them: "I don't have anything to do with this individual. People know each other from just being around town. So, don't call me. Erase my information, whatever you have on my personal information." Not to mention, they tracked me down at my in-laws' house that I've never even left as any contact place. So, what they did was clone my telephone number and call the individual. The person thought it was me calling and picked up. Isn't that illegal? I mean, how did they use my line like that?

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    Reviewed Feb. 24, 2011

    I got a loan for $2500. It's been more than a year with monthly payments of $300 to $3600. And I still have 14 more months to go. They rip you off big time. This has been the worst experience of my life. I was up to the point of turning in my car since my car is not worth $300 a month. Thankfully, my mom lent me the money to pay them off. Please take my advise and don't do the stupid mistake of getting involved with 800loanmart. And if you're late, 1 or 2 days, they immediately hunt you down with your references that you put in your application.

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    Reviewed Feb. 7, 2011

    I didn't pay my bill on time and these guys kept calling me until I made a payment. Every time I paid late, they would bug me to make my payment.

    Can't these people just leave me alone? Sometimes you just gotta pay late and there's nothing you can do about it. I mean, I know I signed a contract and I spent all the money that they let me borrow but I just hate it when companies don't let you slide at least a little bit. That's why the rich keep getting richer and the poor stay poor!

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    Reviewed Feb. 3, 2011

    I want to thank 800loanmart for helping me out and for being the only ones willing to help.

    I was having trouble paying a credit card that I owed $13,000 on so the credit card bank offered me to settle for $3,500. Only problem is, they only gave me four months to pay the entire settlement amount and if I didn't pay the total by the 4th month, the settlement would be voided and I'd lose the $250/month I paid for three months.

    I was on my 3rd month and had not been able to borrow the remaining $2,750. My credit union and my bank did not want to lend me money on my car title because of my credit. None of my family members or friends could help either.

    Before I took out my loan with 800loanmart, I was not sure if I should because I read some bad reviews on them but since I really needed to meet the deadline, I figured I'd give them a shot. Plus the BBB had given them a B+ rating anyway so I thought it would be worth a try.

    I do have to say that the loan I got from them was expensive but it was convenient. What I like about this company is that they disclose this clearly and even in the contract it says in big letters, "This is a high-cost loan, think carefully before deciding to take loan" or something like that. I was able to get the money fast without any hassles and in time to meet the credit card settlement deadline. I also made sure I made my payments on time to pay off my car title loan. I paid off my 800loanmart loan in five months and although it was pricey, I ended up saving a lot more money than I spent because had I not made the lump sum, I would have lost my $750. More importantly, I also ended up saving about $9,500 because of the settlement and I don't have to pay that credit card anymore.

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    Verified purchase
    Staff

    Reviewed Jan. 10, 2011

    I received professional and courteous service from Reggie. He kept me local so that I could sign my paperwork. I would definitely recommend your company to my friends.

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    LoanMart
    Response from LoanMart

    LoanMart encourages its employees to achieve personal success and based on your positive feedback, we've accomplished this goal. Thank you for taking the time to share your experience.

    Reviewed Oct. 12, 2010

    I signed for a loan on my truck from 800loanmart this month. I was fully aware of the high interest rate and how it accrued. I needed this loan to cover some short term expenses until payday, which was about 10 days, at which time I was going to pay off the loan in full. My complaint involves this company's deceptive practice of limiting the dollar amount and frequency of payments you can make and therefore forcing you to pay more interest on the loan. I'm currently researching the legality of this practice.

    800loanmart accepts payments online, in the mail, or over the phone and you have the option of paying with a credit card, an electronic check/ACH, or a regular check. When I called to pay off my loan they informed me that I could not do it over the phone using the same methods of payment they accept for a "normal" loan payment. They only offered me two choices for payoff mailing a cashier's check or using money gram. Both of these choices involved additional cost on my part. If I sent them a cashier's check I would be charged interest every day until they received it, or if I used money gram I was going to have to pay money gram's excessive service fees. It was a Friday afternoon when I made this call which meant I was going to have to wait until Monday to send via FedEx.

    In the meantime I went online to make a payment to bring down the principal balance as much as possible and limit the interest I was going to have to pay over the weekend. This is when I discovered that they would only allow me to make a payment that was two-times my monthly payment amount, plus $50 and that they would only allow you to make this payment once every 20 days. Is this legal? The contract I signed does not state anywhere that the amount of my payments is limited to this arbitrary amount, or that I'm only allowed to make a payment once every 20 days. The contract does state that I can pay off the loan at any time, with no penalties. That is a lie. They are tying my hands and forcing me to pay more interest.

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    Reviewed Oct. 4, 2010

    I took out a title loan with 800 Loan Mart December 2009 and made my payments through Money Gram every time. Yes, I was late but no more than 27 days. The employees weren't rude to me and I even referred some relatives to do business with this company. I never had anything bad to say about this company because they helped me.

    On October 1, 2010, while I was at school, my truck was repossessed from the college campus. I was current with my payments and my next payment was due October 3rd. I called 800 Loan Mart twice that same day and both representatives told me there was no order for repossession and to report it stolen. I couldn't speak to anyone at the repossession agency because they were closed. I called 800 Loan Mart a third time on October 2nd and spoke to Diane, a manager, and she also stated there was no order for repossession. Diane put me on hold after I told her I knew who repossessed my truck and had the phone number. Diane took the number and claimed she called the company and the sheriffs with no luck.

    Diane then informed me that I would have to wait until Monday to speak to the repo department. I called back a fourth time the same day, asking the representative to email or fax me a letter stating that no order for repossession was given and my account is in good standing. The representative stated, "mistakes happen", and tried to forward me back to Diane but she was on another call, so the representative forwarded me to the repossession department to leave a message. I didn't receive a email or fax regarding my account. I could not understand the reason for them telling me they didn't order the repossession when only the lienholder can authorize this action.

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    Reviewed Sept. 16, 2010

    Whatever you do don’t get a loan from 800-loan-mart! We borrowed $2500.00 and it turned in to $7900 over a 2 year period! And heaven forbid you're a day late they hound you as if you've borrowed $1 million! Our car isn't even worth $7900 thank god my credit union gave us a loan to pay off the balance or else I'd still be in **! Do not use loan mart it's a rip off!

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    Reviewed Sept. 11, 2010

    I called to find out about the loan process. I left all my personal information and was told a loan specialist will call me back. I never got a call back and was real worried because I gave personal information. I called to find out why no one has called and customer service told me I am not in their database. Now, I am scared. I gave all my personal information and they don’t have me in their database. I spoke to a supervisor who stated my information must have got wiped out.

    So, months passed by and I thought, “Okay, I will give them another try.” So I do the same thing over and the same thing happened again!! Now I have to get my credit reports and make sure this company’s workers don’t sell my info to someone!!! If I have anything that comes back to any workers here, they will get theirs. Not sure if my credit is damaged from this. Don’t ever do business with this company.

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    Reviewed June 11, 2010

    Would it make sense to put lead soled cement boots on while trying to get out of quick sand? After finding yourself on the edge of a cliff tied up in a straight jacket, do you think jumping over the edge will help you get free? If you have just one brain cell, hopefully you answered "no" to these questions. Well, apparently I have about as many brain cells as a jellyfish. I got a loan with LOANMART. I knew it was a high interest loan, not their fault I signed my car away. But after making 10 payments, the principle barely moved a dime!

    I had my tax preparer friend calculate my actual interest rate, and it is 85% interest. Worse than pay day advance places. So, basically, I'm paying $230 a month to some troll on crack that lives under the bridge! Barely $30 bucks a month is being applied to the actual principle. All that money just floats away into the abyss. Yes, I saw my contract. But they count on the fact that the average person just doesn't realize how that translates into monthly payments. Your burden will be worse if you get this loan. The payments seem to vanish into thin air. If I just saw the principle going down, hey, no problem, but that thing barley moves! Imagine putting $40 in your gas tank every other day, and you're still sputtering around on fumes!

    You are so much better off dealing with the slight financial mess you are now in than prostituting your hard earned pink slip out to these pimps. Ever try to hug a starving pit-bull foaming at the mouth with rabies in need of a root canal in a cactus patch surrounded by broken glass and pepper spray? Yeah, well, that is my experience whenever I have the unfortunate burden of dealing with these people on the phone. They are so nasty and rude. I think they feel since they have your pink slip, why should they treat you like a customer? You are not seen as a customer, but rather as a loser who needed a quick financial bailout. As if you must not have good enough credit to get a "real" loan at a bank. Therefore, they see us in some low grade category of society. I get cut off mid sentence, hung up on, even laughed at. Welcome to my world. My wife warned me not to do it. I didn't listen.

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    Reviewed June 8, 2010

    800loanmart.com is extorting money. They will not send payment history and will not let me make large payments. They also will not let me speak to a manager. They're lying to my face, staying in department. I am working extra hard for nothing.

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    Reviewed Dec. 28, 2009

    We made a huge mistake in taking out a loan through 800 Loan Mart. We ran into financial hardship and missed a payment. Henry was quick to call and harass me at work about my payment. From the first phone call, I asked Henry if they can defer a payment or make the payments lower and every answer I got was, “No, we do not do that.”

    Second month rolls in and still every day I ask and every day Henry threatens to take the car. They took the car a month later. Karina in repo dept is very rude and stated we violated the contract and we had to pay the full amount of $3,500 plus to get the car. We asked if we can pay the amount on a family member’s credit card (we wanted to pay them off and get them off of our backs!) and they said no. They wouldn't wait for the amount to clear. They told us cash in person or Moneygram.

    We filed a complaint with the BBB and then Loan Mart sent us reinstatement paperwork to get our car back. Then as quickly as we got the paperwork, they revoke it! They revoke it right after we got confirmation from the BBB that they received our complaint. They are now retaliating against for making a complaint to the BBB.

    Do not ever get a loan through them. All the representatives are rude and disrespectful. If they were a reputable company, all those representatives would be out of a job for talking to customers like that. I wish I knew about this site before I took this loan. If you Google this company, there are numerous complaints about them. We are going to take legal action now. We do not want this to happen to someone else.

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    Reviewed Dec. 20, 2009

    I called to inquire about their product. After I had given the young lady the basic info about my car, I asked her the process. Well, she was very impatient with me. She did not want to answer the questions, such as what documentation she will need, what is the interest on the loan amounts and basic things before I jump in. The young lady in a nice nasty tone stated, "I have other clients waiting and I have to get off the phone." I was surprised! I told her it is the consumers that keep her employed and my questions are called job security for her. It would be cordial if she could be patient and ask questions, which I really did not think she would mind. I was so wrong, she hung up. I think I will pass on them, especially after reading other complaints.

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    Reviewed Dec. 18, 2009

    I currently have a loan with 800loanmart. Let me give some background here. Unfortunately, due to financial issues, my payments have been consistently late by 2 to 3 weeks. In the beginning, I informed 800loanmart of the late payments ahead of time but after month after month of threats that they'd repossess my vehicle, I finally quit calling and just made my payments late using Moneygram. At which point, I would call the day of the payment to give them a reference number. 800loanmart started calling me and I understand they felt it was necessary but eventually they would even call my work multiple times per day.

    My work line is a mobile phone. On it, I leave a message with a coworkers number just in case somebody trying to contact me regarding my job needs immediate assistance. 800loanmart started calling my coworker! On one occasion they even left a message on my coworker's phone, addressed to me, stating that I was late on my Loanmart payment and that they were going to repossess my vehicle! I still have that recording to this day! On Thursday, December 17, 2009, I called into 800loanmart to give a reference number for a payment I had made earlier. I spoke with three individuals. The first was a gentleman who I did not get his name, when I asked for it he informed me his computer was down. Then I was transferred to an associate named Vanessa at x**. I gave her my reference number and she asked when I would be making my next payment.

    I informed her it would be about three weeks past the due date. She then proceeded to tell me that they can no longer be taking late payments from me and that she can't guarantee the terms of the loan. I responded by stating I don't have the means to get the payment in earlier and she replied that I run the risk of having my car impounded. Pompously, I responded that I've always made my payments late, that I was aware of the penalties and fees I will incur at the end of my loan, and that all I can play is the hand I'm dealt. Vanessa then responded to me, "Mr. **, the terms and conditions of your contract allow us to repossess your vehicle even if you are one day past due." I then told a second to regain my composure, I admit I was flustered. I then set my phone up so that I could record the conversation, and then I asked Vanessa, "At this time, I would like to start recording this call for quality assurance. Could you please repeat what you stated regarding the terms and conditions of my contract?" Vanessa, after pausing for a second, asked me to hold.

    I was then transferred to Yvonne at x**. She seemed unaware of why I was transferred to her. I initially stated that I had called in to give my reference number for a payment. She then started telling me that I needed to make my payment or that I run the risk of having my car repossessed. As soon as I heard her talk about repossessions, I told her I would like to record the call for quality assurance and she told me no! That I could not record the call and that since I was not allowing herself or their previous representative explain that they are a title company and what their rights are as such that she would notate on my account that I was refusing communication regarding my account. I stopped talking, allowed her to finish her sentence and then asked, "Can I record our conversation regarding my loan and the terms and conditions?" And Ivonne said no. So I told her I have nothing else to discuss at this time and that I would seek out aid regarding the issue.

    To anybody considering doing business with 800loanmart, it is my opinion that this is the worse possible way to get quick funding. This company in particular has fueled an inferno of disgust and hatred within me. Getting a loan through 800loanmart is the worst decision I have ever made in my life. Please don't repeat my mistake. I appreciate your time in reading my post.

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    Reviewed Dec. 15, 2009

    It's very interesting that customers that don't pay or pay late are always unhappy and complain that creditors are rude. On the other hand, the vast majority of customers that do pay call us to thank us because we lend them money, when no one else not even their family would lend them the cash, and because they are treated with dignity and respect not like other creditors. When you read these reviews, remember customers are always happy when they pay their account current and so are the creditors.

    Tips for consumers: Know your due date and the amount to pay. This is the minimum payment but you can always pay more. If you are going to be even one day late, call your creditor. If you say you are going to pay an amount on a certain date, keep your promise. This will show you are a trustworthy customer. When you need help, you will highly increase your chance of getting it. Your 800loanmart loan is a simple interest loan. The monthly payment is the minimum payment. Any amount you pay over will reduce your principal thus reducing the finance charge you ultimately pay. Pay on or before your due date. Every day you pay after goes to interest and not to principal. We report to the bureaus, meaning if you pay your account on time for at least six months, it will substantially increase your credit score. We only make money when you are paying your payment, not when vehicles are repossessed. Establish a positive friendly relationship with your creditor. Be respectful. Creditors are willing to help those customers that are courteous.

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    Reviewed Sept. 17, 2009

    I have had an auto title loan. I unfortunately have lost some of my monthly income. I do speak by making payments, but they are late. I was keeping communication and never let my loan get close to 60 days. Sometimes I would have to make partial payments. I always notified the lender. I was called by Henry ** and told him I could make a payment and did make the payment I stated I would make. I had no phone call asking me to send in the vehicle or drop it off. I received a phone call at 12:45 am from a repossession man that was outside of my house. I gave them the car at that point. I was sick of being threatened every month. They took my car.

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    Reviewed Feb. 18, 2009

    During the holidays, I lost my job. My wife was working p/t; we got behind with Loanmart and they towed our car. We came up with the money to give them costing 1400 dollars all said. The repossession co. held our car for three days; they would not release the car even though we paid Loanmart the first day. They kept putting us off saying they can take all the time they need before we get the car back. Loanmart kept screwing and sent the paperwork to release the car five times before they got it right. They actually told me that it was low priority for us to get our car back.

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    Reviewed Jan. 13, 2009

    I was falling behind on my house payments so in order to keep current until I refinanced my home, I took on a loan from 800loanmart for approximately $9,000. Next thing you know, the whole housing meltdown transpired and was unable to refinance. I lost my home and after 14 payments to 800loanmart, it turns out they want an additional $14,000 on top of the $11,000 plus I've already paid. I have tried explaining my situation to see if there is anything I can do about the high interest/payment and they could care less. Finally last week, after being able to make my payment, they took my truck. Loan sharks go to jail, but companies like 800loanmart are allowed to operate with what seems no regulations.

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    Reviewed Dec. 23, 2008

    I am self-employed and came on some hard times this past year. I needed to pay a credit card off before they were going to take me to court. I went to a Payday Loan company and applied for a car title loan for $4000.00. Because of my business taking a turn for the worse recently, my credit has gone down the tubes, so I was unable to go to a regular loan company. I received the loan papers with a outrageous interest of 105%. Because I was afraid of what the credit card company was doing to me, I entered into the contract for the loan. I expected a high interest rate but not anything that high. I was told I had to sign off on my Pink slip and would receive a copy of a new one with the lender on it. This has not happened. By the time I pay off this loan, it would have cost me over $11000.00 for a $4000.00 loan. The statements I receive don't tell me the balance of my account either, just what is due for the month. Is there no cap in this state for interest that can be charged to people with my problem? If I lose my car, I will not be able to continue my business (I have an express delivery service).

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    Reviewed Aug. 18, 2008

    I saw a TV show called Best Deals. It talked of a place called 800loanmart for car title loans with a california interest rate cap. Needing the money no one could explain the questions I had so I signed for a $7500 loan on a 2001 Porsche Turbo. I thought the interst rate was 10.2%.

    It is 102%, 36 monthly payments of $675.49. Finance charge of $16,802.00 and total payments of $24,317.64. It seems like they are a bunch of theives. Is there a California law that regulates the interest rate?

    I need to know if I have any recoarse as to the interest rate of 102% and can I do anything about it.

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    Reviewed July 1, 2008

    On Oct 21 I began a loan with 800 loanmart. I inquired about the rates before hand and I was told they would be similar to a regular loan. When I sighned the documents I was told the rate was 98% intrest rate but I would be able to make principal payments to reduce the loan and pay it off with 3 months when I was expecting a bonus check. The first payment due date for the loan would have been 30 days after the sighning date Nov 21. I began making principal paymnets Nov 3.

    I continued making my payments always having a credit balnce till February. I requested the payoff balnce so I could payoff the loan. I was told that It was the same as when I started the loan. I placed a stop pay on my payment and advised the rep to make 2 separate payments to count for the next 2 weeks. When I inquired about the different info the rep stated that you have a minimum intrest to make. I struggled making the loan payments because I had no intention on taking on another long term loan. The reason I took out the loan was to make a down payment on a payment arrangmnt to save my home because I was behind in payments.

    Although I strglled to make the payments I always made my payments. Loan mart began losing payments and assesing fees with no explanation. According to their own loan history i assesed a late charge when I had a credit balnce. March 5 2008 loanmart repossed my car when I was still within the grace period of the loan. I paid the fees to get the car out. And even when I alerted them of their mistake they never reimbursed the 700.00 in fees for repo.

    Very recently I was told by a rep I was late by 30 days even though the statements before that point said I was due for the current payment and a rep emailed me with a total due showing less than 30 days late. I also have proof of making paymnets every month. I advised the manager Espy of this. She proceeeded to tell me I started my loan Oct 2 and I had been late on my payments since then. I have proof of the loan history of the credit balnce.

    I believe loanmart predatory lending pratices have costed me more than enough in fees and charges to payoff the loan and I want them to recind this loan. Also the loan history shows that the loan paymnets are taken from intrest only not principal as I was promised. I have wasted over 2000.00 in intrest from not being allowed to pay the loan off when I was promised. Also about 400 in late charges, not to mention the 700 in repo fees from their own mistake.

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    LoanMart (formerly 800loanmart.com) Company Information

    Company Name:
    LoanMart
    Company Type:
    Private
    Year Founded:
    2001
    Address:
    PO Box 8075
    City:
    Van Nuys
    State/Province:
    CA
    Postal Code:
    91409
    Country:
    United States
    Website:
    www.800loanmart.com