LoanMart

Lender Summary

Starting in 2002, LoanMart has grown into one of America’s largest loan platforms for people with less than perfect credit by helping people quickly get the money they need with both vehicle secured loans and personal loans. LoanMart’s skilled agents work with you to get you money as fast as same day. Applications processed by LoanMart may be funded by one of several lenders, including by LoanMart, a licensed lender in certain states, and by a Utah-chartered Bank.

What they're saying

Ratings & Reviews
58 Reviews
  • Interest Rates
    Good
  • Fees & Closing Costs
    Good
  • Responsiveness
    Excellent
  • Customer Service
    Excellent

Review Breakdown

Financial Ruin Awaits

I took out a loan with LM in 2019 in order to pay for travel expenses related to a relative passing, right after getting out of college. Probably one of the worst financial decisions I've made thus far in life.
Over the course of the past ~1.5 years I've had to pay about x3 the amount of the principal in interest, fees, and more. The interest rates are predatory; there's a class action against them but I unfortunately am not able to participate because of when I took out the loan.
Customer service is spotty; either you'll get someone on the phone who is genuinely happy to help, or you'll get someone who doesn't know what they're talking about at all and just wants to get you off the phone. At one point I had fallen a month behind and they threatened to repo my car. I set up a payment date and they repo'd my car four days before the date we agreed on. It cost me over 1k to get it out. This is on top of constant calls they make to family and friends asking about me and asking for their money - once again, after a payment date had been arranged. I had never missed an arranged payment date, yet they approach the situation like I owe them hundreds of thousands of dollars.
Seriously, no matter the circumstances do NOT take a loan out with these people unless you can pay it off in the first month. At this point I almost wish I missed my family member's funeral. These literal loan sharks have caused me to consider suicide at various points because of how financially ruined this loan made me.
Thank god I've paid this off. To anyone that hasn't been able to - be vigilant. If I can get out, so can you.
If you're considering taking out a loan with them, don't. Point blank. It's not worth the ruin. Whatever you need the money for, get it a different way.

  • Closed with Lender:

    Yes
  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review

Just bad experience

Was late due to covid was harassed it was my last payment due and they were saying they were going to come get my truck after years of paying . To much I really think there should be a law against this

  • Closed with Lender:

    Yes
  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review

Bunch of crooks

Yes, their car title loan process is fast and easy. I got my loan same day. HOWEVER, I will be paying off my $2000 loan tomorrow, and after only 6 months, I'll have dumped $4400 into this ridiculously high interest loan.
If you're not able to pay the loan off within a month, do yourself a favor- find any other lender, I think even the mafia has better rates than these predatory scammers.

  • Closed with Lender:

    Yes
  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review
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LendingTree Certification:

The LendingTree Certification Program recognizes Lenders and Loan Officers with outstanding performance on the LendingTree Network, they are committed to providing exceptional customer service and are graduates of LendingTree University.

LendingTree Certification:

  • Certified Lender
    Certified Lenders have demonstrated their organizational commitment to employee development, at least 50% of their loan professionals have been certified while also providing exemplary service to LendingTree consumers.

Loan Officer Certifications:

  • Gold Leaf
    Gold Leaf is the cornerstone of the loan officer certification program and is designed to recognize loan officers committed to their own professional development while adhering to LendingTree best practices. Gold Leaf recipients know the fundamentals of LendingTree and online lending, they are equipped with the necessary skills to be best-in-class loan professionals.
  • Certified President's Club
    President’s Club is presented to an elite group of loan officers based on success levels in several areas including adherence to LendingTree best practices, commitment to professional development and dedication to customer excellence. Recipients have also met all Gold Leaf criteria.

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