Advertiser Disclosure

Personal Loans

OneMain Financial Personal Loan Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

APR

18.00%
To
35.99%

Credit Req.

Not specified

Terms

24 to 60

months

Origination Fee

1.00% - 10.00%

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

OneMain Financial offers quick turnaround times and you may get your money the same day... Read More


Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. The lowest APR shown represents the 10% of loans with the most favorable APR. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600.

Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. West Virginia: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

OneMain Financial personal loan details
 

Fees and penalties

  • Terms: 24 to 60 months
  • APR range: 18.00% to 35.99%
  • Loan amounts: $1,500 to $20,000
  • Time to funding: Can be as early as the same day.
  • Hard pull/soft pull: Soft Pull
  • Origination fee: 1.00% - 10.00%
  • Prepayment fee: None
  • Late payment fee: Varies by state (may be dependent on your state of residence)
  • Other fees: $55 lien recording fee if the loan is secured with an automobile (may be dependent on your state of residence)

OneMain Financial doesn’t offer much in the way of perks, but it does allow you to request changing your payment due date. It is also committed to helping customers understand finances by providing helpful resources.

OneMain Financial offers easy to find educational resources in the form of blog posts, courses, video tips and financial calculators. From explaining financial terms to providing access to a free money management course, MoneySKILL, OneMain Financial stands by its mission of offering responsible loan products.

Eligibility requirements

  • Minimum credit score: Not specified.
  • Minimum credit history: Must have some credit history, though a requirement of length is not specified.
  • Maximum debt-to-income ratio: Not specified.

Additionally, you’ll need to be a U.S. resident and at least 18 years old.

Overall, OneMain Financial is looking to see that you are able to repay the loan with a stable income and are similarly stable when it comes to where you live.

Applying for a personal loan from OneMain Financial

OneMain Financial makes it easy to get started with a personal loan application. You can either apply online or at a local branch and receive an answer to your application usually within 10 minutes.

The application asks for basic personal identifying information as well as:

  • Your intended purpose for the loan
  • Your current source of income
  • Your current salary

If you choose to apply online, you will have to go to a local branch to close on your loan. Whether you go to the local branch to start your application or close on the loan that you applied for online, you’ll need to bring the following documents for verification:

  • A copy of a valid, government-issued ID
  • Proof of residence
  • Proof of income

How long it takes to receive your funds depends on what time you submit your application and how long it takes to receive and verify your documents. You can choose to have your funds deposited directly into your checking or savings account, or receive a check in person when you open the loan at the bank.

Pros and cons of a OneMain Financial personal loan

Pros:

Cons:

  • Fast loan processing. OneMain Financial’s application from start to receiving funds can take as little as one day.
  • Lots of local branches. OneMain Financial has hundreds of branches in 44 states, making it likely that you are not located far from the nearest branch.
  • High interest rates. OneMain Financial offers loans with APRs ranging from 18.00%-35.99%. If you have a good credit score, you can likely find lower rates elsewhere.
  • Not an entirely online process. It’s not unusual to go to a physical branch location to close a loan, but as technology advances, there are companies that offer a completely online experience. OneMain does provide remote closings in some areas without physical branches.
  • No payment deferral. One perk some lenders offer is the ability to skip or defer a payment once a year; OneMain Financial doesn’t offer such a perk.

Who’s the best fit for a OneMain Financial personal loan

While you can use OneMain Financial personal loans for a number of different reasons, they cannot be used for tuition or to start a business. Thus, as OneMain Financial interest rates are similar to a credit card, its personal loans are less than ideal to cover anything other than a necessary expense or to consolidate debt with high interest rates.

For example, a personal loan from OneMain Financial could be great if you have credit card debt spread over several cards. A personal loan from OneMain could help to simplify your finances by consolidating — rolling everything into one monthly payment and having a fixed date to have it paid off. A personal loan could also help you to improve your financial standing, as revolving credit is viewed differently from installment loans when it comes to your credit report. Still, to reap the full benefits, you’d need to make sure you’re making on-time payments.

Additionally, personal loans from OneMain Financial can be used to cover unexpected expenses, like medical care or a car repair bill, as these expenses can sometimes be quite large and require payment quickly. The personal loans from OneMain, with their quick turnaround time and $20,000 limit, could fit the bill.

However, chances are if you’re working with OneMain, the high APR with OneMain means you’d be better off waiting until you improve your score and shop elsewhere.

OneMain Financial consumer reviews

OneMain Financial has an A+ rating from the Better Business Bureau, and the majority of customer reviews on LendingTree, MagnifyMoney’s parent company, give it 4.4 stars. Ada, a customer in Pelham, Ga., wrote that she was “treated like a human who needed a hand up,” respectfully with no hassle throughout the entire process.

OneMain Financial FAQ

OneMain Financial offers personal loans that can be used for a variety of purposes.

OneMain Financial’s personal loans can be used for anything from debt consolidation to home improvement projects and unexpected medical expenses.

Yes, you may be able to receive a larger loan amount if you apply with a co-applicant and/or with collateral. Contact OneMain at 1-800-961-5577 to speak with a specialist to see if this could be an option for you.

If your application is declined, you will receive a letter in the mail informing you of that, along with instructions on how to receive information as to why this decision was made.

If you qualify based on your individual situation, you may be able to work with OneMain Financial to reduce your monthly payments.

Yes, you can request a payoff amount either online or over the phone. You will have to provide the reason for the payoff to do so.

If you miss a payment, call OneMain Financial at 1-800-961-5577 to go over your options with a loan specialist.

Alternative personal loan options

LendingClub

APR

6.95%
To
35.89%

Credit Req.

Not specified

Terms

36 or 60

months

Origination Fee

1.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingClub is a great tool for borrowers that can offer competitive interest rates.... Read More

Established in 2007 as a peer-to-peer lender, LendingClub through which you can get personal loans up to $40,000 with APRs as low as 6.95%. Because of the higher loan amount and potential for a lower APR, it’s worth seeing the rates you qualify for with LendingClub, which you can check without having a hard pull on your credit.

LendingPoint

APR

9.99%
To
35.99%

Credit Req.

585

Minimum Credit Score

Terms

24 to 48

months

Origination Fee

0.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingPoint is an online lender that targets borrowers with fair credit, and allows borrowing up to $25,000.... Read More

As LendingPoint proclaims, it provides “personal loans for fair credit” customers. Similar to OneMain Financial, it offers a quick turnaround with the possibility of receiving funds in as little as one business day. LendingPoint’s rates and fees are again similar to those offered by OneMain, though its maximum loan amount is $25,000 with a term of 24 to 48 months. If you need money quickly, LendingPoint gives you the opportunity to check rates while allowing you to shop around for the best deal.

Peerform

Peerform
APR

5.99%
To
29.99%

Credit Req.

600

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

1.00% - 5.00%

SEE OFFERS Secured

on LendingTree’s secure website

Even with a credit score of 600, you still might be able to secure a loan through Peerform. ... Read More

Peerform is another peer-to-peer lender offering personal loans of $4,000 – $25,000 with rates that are capped at 29.99%. Peerform allows you to check your rate without impacting your score. That makes it worth it to shop around and see which lender, OneMain Financial or Peerform, will offer you the best rate.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Emilia Benton
Emilia Benton |

Emilia Benton is a writer at MagnifyMoney. You can email Emilia here

Liz Stapleton
Liz Stapleton |

Liz Stapleton is a writer at MagnifyMoney. You can email Liz here

Get Personal Loan Offers
Up to $50,000

$

Won’t impact your credit score

Advertiser Disclosure

Personal Loans

The Best Personal Loans for People with Bad Credit

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

If you have bad credit, it can be difficult qualifying for a personal loan. Some of the best personal loans for bad credit — defined here as a credit score below 640 — come from lenders who consider other information in addition to your credit score. These lenders might not offer the lowest interest rates or biggest loan amounts, but you won’t be automatically disqualified just because your credit is less than stellar.

Read on to learn about the personal loan products we selected.

The 3 best personal loans for bad credit

 

LendingPoint

Learn more

Peerform

Learn more

Upstart

Learn more

APR

9.99% - 35.99%

5.99% - 29.99%

6.46% - 35.99%

Terms

24 to 48 months

36 or 60 months

36 & 60 months

Loan amount

$2,000 - $25,000

$4,000 - $25,000

$1,000 - $50,000

Origination fee

0.00% - 6.00%

1.00% - 5.00%

Up to 8.00%

Credit score requirement

585

600

620

LendingPoint

LendingPoint offers personal loans for fair credit borrowers. Although loan amounts are restrictive, the lender has more repayment terms to choose from (though a shorter maximum term) compared to the other options included here. The funds can be deposited the next business day after loan approval, as well.

LendingPoint considers more than your credit score when reviewing your application. The lender looks at factors such as:

  • Job history
  • Income
  • Financial history
  • Credit behavior

When applying, you can expect LendingPoint to request additional documentation, such as proof of income and recent bank statements.

Peerform

Peerform is a peer-to-peer lending platform through which borrowers may access personal loans. These loans come with the lowest APR range and the lowest maximum origination fee among the personal loans we reviewed on the MagnifyMoney marketplace for borrowers with credit scores below 640. That means Peerform may be a good option for bad credit borrowers hoping to minimize their overall cost of borrowing.

Potential borrowers should know that the process of getting a loan through Peerform is different from getting a loan through a traditional lender. After you register on Peerform and select your loan terms, your loan inquiry will be listed on the Peerform platform. From there, investors can choose to fund your loan.

The minimum credit score requirement for Peerform is reasonable, at 600. But as with any unsecured personal loan, only the most creditworthy borrowers will qualify for the lowest interest rates. Further, the loan amounts are more restrictive than for those offered through Upstart and LendingPoint.

Upstart

Upstart’s APR range is slightly higher than the two competitors in our selection. This includes a higher cap on the origination fee. Although Upstart has a higher credit score requirement than Peerform and LendingPoint, the lender specifies on their website that it considers education and employment information in their underwriting.

Upstart offers the most generous loan amount range, potentially making them a good option if you want to borrow either very small amounts (less than $2,000) or large amounts (more than $25,000). Once your loan is approved and you accept it, you can receive funds as soon as the next business day.

How to compare and choose a personal loan

When comparing personal loans to find the best one for your financial situation, it’s important to read the fine print and make sure you understand each lender’s terms and conditions. The table below details important features to consider.

APR

APR (annual percentage rate) is the primary factor in determining how much your loan will cost over time.

Credit score requirements

Look for credit score requirements or a pre-approval tool to figure out your chances of approval before applying.

Loan amount

The loan amount determines how much money you can borrow, although only the most creditworthy borrowers will qualify for the highest loan amounts.

Loan term

The loan term determines how long you have to pay off your loan. The longer the loan term, the lower your monthly payments, but a long loan term also means paying more in interest.

Origination fee

Origination fees are charged by some lenders in order to process your loan, and they're typically deducted from your loan amount upfront.

Prepayment fee

Prepayment fees are charged if you pay off your loan ahead of schedule and should be avoided when possible.

Late payment fee

Late payment fees are charged if you miss a loan payment. Avoid these by always making payments on time.

Check processing fee

Many lenders charge a check processing fee if you choose to make your loan payments by physical check rather than electronically.

Loan restrictions

While personal loans are flexible, you can't always use them for any purpose. Check if there are restrictions on how you can use your funds.

The primary factors to consider are the APR — essentially the cost of your loan — as well as the loan term, loan amount and credit score requirements. If those factors match up with your needs, move on to considering other fees, such as origination fees, prepayment fees, late payment fees and check processing fees.

Finally, make sure that the personal loan you’re considering can be used for your needs. Some personal loans are geared toward paying off or consolidating debt, while others might be designed to pay for home improvements or a new car. By going through this checklist, you’ll be more likely to find a personal loan that’s the best fit for you.

The application process for a personal loan

  1. Determine your eligibility: Each of these lenders offer a pre-qualification tool that allows you to check what loan rates you might qualify for without impacting your credit. Use these tools to determine whether or not you’re eligible for the loan you need.
  2. Consider adding a cosigner: It’s easier to get a competitive interest rate for your credit profile if you can find a cosigner to lean on. However, this person will be held responsible for your debt if you can’t pay it off, so make sure you have a solid plan in place to repay your loan.
  3. Prepare your loan materials: To complete most loan applications, you’ll need to provide basic information like your full name, address and social security number, plus any documents required to verify your identity and income. These can include a driver’s license, passport, or government-issued ID, pay stubs, bank statements and information regarding your current debts if you’re consolidating.
  4. Complete the loan application: Once you’ve gathered the necessary materials, you can fill out your chosen lender’s online application form. You might receive a decision immediately, or the lender may ask to see additional materials to verify your income and identity. With peer-to-peer lending platforms, your loan will need to be funded by investors before you can receive your money.
  5. Add a bank account to receive your funds: If you’re approved, you’ll need to add and verify a bank account where you’d like your funds to be deposited. You’ll then receive your funds within one day to two weeks, depending on the lender.
  6. Follow up with lenders that reject you: If you’re rejected for the loan of your choice, it can be helpful to follow up with the lender and ask why. Their answer will provide guidance as to how you can improve your chances of approval.

Alternatives to a bad credit personal loan

  1. Ask for help from friends and family: The best alternative to a bad credit personal loan is borrowing from friends and family. Even if they charge you interest, you’re likely to save the most money with this method. Just make sure you have a plan to repay the loan, or you could risk destroying important relationships.
  2. Consider a home equity loan or line of credit (HELOC): If you’re a homeowner who has paid off a portion of your home, you may be able to take out a loan against the equity in your house. Home equity loans and HELOCs tend to be easier to qualify for and offer lower rates because you offer your house as collateral. Just know that you risk losing your home if you don’t pay off the loan.
  3. Secured loan:Secured loans are backed by collateral as well, making it easier to qualify for lower interest rates. Aside from borrowing against your house, you can often borrow against other property such as a car or a boat, or even an upfront deposit. Again, you risk losing your collateral if you don’t pay off the loan on time.
  4. Charge a credit card: Credit cards can come with higher interest rates than personal loans depending on your credit. However, if you need money now and can’t qualify for lower interest rates, you might be better off charging a credit card. Make sure you pay off your balance diligently to minimize interest charges.

Improving your credit score for future loans

If you can’t get approved for the best personal loans for your credit profile, it might be worth trying to repair your credit before you borrow money. A better score will help you qualify for loans with better terms and lower interest rates.

While improving your credit takes time, you’re bound to see your credit score increase if you can consistently follow the steps below:

  1. Go through your credit report and dispute any errors
  2. Pay all of your bills on time, and make any late payments before your debt goes to collections
  3. Pay off debt, focusing on paying down high credit card balances first
  4. Consider applying for a secured credit card and using it responsibly and regularly

Methodology

Our selection of the best personal loan lenders for bad credit was based on offers listed on MagnifyMoney’s personal loan marketplace. Lenders were chosen on December 18, 2019 assuming:

  • Credit score of poor (below 640)
  • Loan amount of $5,000
  • Zip code 11220

Lenders were chosen based on APR ranges for each of the above credit score ranges. Ties were broken by assessing: 1) Origination fees 2) flexibility of term lengths. Lenders who do not specify credit score requirements on their website were excluded when assessing lenders for borrowers with poor credit.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Brynne Conroy
Brynne Conroy |

Brynne Conroy is a writer at MagnifyMoney. You can email Brynne here

Get Personal Loan Offers
Up to $50,000

$

Won’t impact your credit score

Advertiser Disclosure

Personal Loans

LoanMart Car Title Loan Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

LoanMart
APR

30.00%
To
199.00%

Credit Req.

Not specified

Terms

Up to 60

months

Origination Fee

Varies by state

LEARN MORE Secured

on LoanMart’s secure website

LoanMart auto title loan details

Terms

Fees and penalties

  • Term lengths: Up to 60 months
  • APR range: 30.00% - 199.00%
  • Loan amounts: $2,600 - $50,000
  • Time to funding: As soon as 24 hours after submitting required documentation
  • Credit check:Poor-credit applicants will be considered
  • Origination fee: Varies by state
  • Prepayment fee: None
  • Late payment fee: Varies by state
  • Other fees: DMV charges possible in some states

LoanMart product details

LoanMart offers auto title loans at a lower interest rate than most of its competitors, but they are still an expensive form of credit. To secure your loan, you will have to sign over the title of your vehicle as collateral. It’s easiest to do this if your car is paid off, but you may still qualify if you have a few payments left depending on your vehicle’s equity.

The APR you are charged will include any origination fees, as well as possible Department of Motor Vehicle fees, though these do not appear to be excessive. If the title is in your name and you’re looking to get a loan, LoanMart will contact the DMV on your behalf.

One of the most noteworthy things about LoanMart’s auto title loans is its terms. While many auto title loans require you to pay back your loan within a month, LoanMart gives you up to five years. Its term lengths are more in line with what you would find with an unsecured personal loan. And your car can be repossessed with an auto title loan, which makes unsecured personal loans preferable. Not everyone will qualify, though.

Eligibility requirements

  • Minimum credit score: Not specified, though LoanMart says almost anyone can qualify for its car title loan
  • Minimum credit history: You can still qualify if you have poor credit or a bankruptcy on your record, but it will most likely to impact your APR
  • Maximum debt-to-income ratio: Not specified

The primary thing you’ll need when applying for a car title loan from LoanMart is a vehicle. While your credit history will be evaluated, a bad credit history won’t necessarily disqualify you like it does with other lenders.

You must also be a resident in one of the states in which LoanMart issues auto title loans:

  • Alabama
  • Arizona
  • California
  • Missouri
  • New Mexico
  • South Carolina
  • Utah

Applying for an auto title loan from LoanMart

  • Fill out an application: You can apply online, via phone (855-422-7412) or at a LoanMart location.
  • Receive a quote: Within an hour of submitting your application, you should receive a quote — if you’ve been approved — with the amount you are able to borrow.
  • Submit documentation: If you move forward, you will need to submit documentation to support your application. This includes a government-issued ID, your car title, proof of income and proof of residence.
  • Sign and cash: After you submit your documentation, you will sign the final paperwork. You can then choose to receive your money electronically, via paper check or in person at a LoanMart location. You may also be able to pick up your funds through MoneyGram at select Walmart locations.
Pros and cons of a LoanMart auto title loan

Pros:

Cons:

  • Longer loan terms: LoanMart loans can be repaid over up to 60 months. Many car title loans are extremely short, ending within 15 to 30 days.
  • Lower APR: LoanMart’s APR offerings can be notably lower than other auto title lenders.
  • Quick turnaround: LoanMart will provide funding in as few as 24 hours if you submit the necessary documents and signatures by 2 p.m. Pacific time on a business day.
  • Credit reporting: LoanMart reports your payments to two of the three major credit bureaus: Experian and Equifax. This can help you rebuild a positive credit history.
  • Expensive form of borrowing:  Even the lowest APR available through LoanMart is higher than what you’re likely to be offered via an unsecured personal loan with another lender.
  • You could lose your car: If you can’t repay your loan, you could lose your vehicle.
  • Limited availability: LoanMart only issues title loans to residents in 7 states.
  • Amount you can borrow depends on your car: Newer cars with a clean title will yield a higher offer from LoanMart than a vehicle of an earlier model year with a rusted-out bottom. That’s good news if you have a newer vehicle, but potentially disappointing for everyone who does not.

Who’s the best fit for a LoanMart auto title loan?

If you have no other options and are determined to take out an auto title loan, LoanMart is one of your better options:

  • APRs are clearly advertised
  • APRs for qualified applicants can be lower than the competition depending on the state in which you live
  • Your credit history plays less of a role; if it’s poor, though, you’re likely to end up at the higher end of the APR range

Auto title loans are an expensive form of borrowing. While LoanMart can be preferable to other lenders in its space, that doesn’t change the fact that you should explore all other options before putting up the title of your car as collateral for fast cash.

LoanMart consumer reviews

Borrowers have ranked LoanMart a 4.3 out of 5 (53 reviews) on LendingTree, which owns MagnifyMoney. That ranking does include customers that have used its other products, such as personal loans or auto refinance.

Borrowers praised the ease of the application process with LoanMart, and the assistance provided by loan officers. Dan from Tucson, Ariz., wrote: “They were all very nice and the process moved very quickly. I had my loan in less than 24 hours. I would use them, again.”

Negative reviews cite not being approved after submitting documentation or rising APRs after documentation was reviewed. If you are applying for an auto title loan from LoanMart, be aware that your quote is not set in stone until after your loan officer has reviewed your documentation.

LoanMart FAQ

Yes. You don’t need to have to have a job to qualify for an auto title loan from LoanMart, but you need income. This income can potentially come from retirement, disability or Social Security benefits. You can also qualify with a cosigner.

If there is an “or” between the names on the title, you can apply like normal. If there is an “and” between your names, both of the owners will need to be on your LoanMart application. If your title reads “and/or,” you will need to contact LoanMart to guide you through the process.

You don’t need a bank account unless you are trying to prove self-employment income or you would like your funding deposited directly into your account.

Typically, your first payment is due 30 days after your funds are disbursed.

You can pay via the mobile app, online, with Automated Clearing House (ACH) auto payments, paper check via mail, over the phone or in person at a LoanMart location.

Worst-case scenario, your car is repossessed. But if you can’t make an on-time payment, LoanMart encourages you to contact them right away to work out an alternative.

Besides auto title loans, LoanMart offers high-interest, unsecured personal loans. LoanMart personal loans do not offer competitive terms.

You can spend this money on whatever you’d like. However, with the lowest possible APR at 30.00%, the bill or circumstance has to be dramatically dire to justify the costs of financing.

One may be requested if you take out a loan for $10,000 or more.

LoanMart subtracts the remaining balance on your traditional auto loan from the current market value of your vehicle if you still owe car payments.

Alternative loan options

LendingPoint

APR

9.99%
To
35.99%

Credit Req.

585

Minimum Credit Score

Terms

24 to 48

months

Origination Fee

0.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingPoint is an online lender that targets borrowers with fair credit, and allows borrowing up to $25,000.... Read More

LendingPoint offers personal loans rather than title loans. These loans hands-down beat LoanMart loans, whether you’re considering a LoanMart personal loan or title loan.

LendingPoint’s APR offerings are substantially lower, and you can borrow a larger amount of money when compared to LoanMart’s unsecured personal loans — up to $25,000.

However, you do need to have a credit score of at least 585 to qualify for a loan from LendingPoint, where LoanMart’s credit requirements are more flexible (at a cost).

Upstart

APR

6.46%
To
35.99%

Credit Req.

620

Minimum Credit Score

Terms

36 & 60

months

Origination Fee

Up to 8.00%

SEE OFFERS Secured

on LendingTree’s secure website

Upstart is an online lender created by ex-Googlers.... Read More

Upstart connects borrowers with partner lenders for unsecured personal loans.

Again, unsecured loans are usually preferable to title loans, and Upstart’s rates are superior to LoanMart’s. It also allows you to borrow outside of the range offered by LoanMart. With Upstart, you can potentially borrow as little as $1,000 and as much as $50,000.

Upstart’s credit standards may be higher than LoanMart’s, but it does strive for some flexibility. Besides your credit score, Upstart looks at your:

  • Education
  • Area of study
  • Career history

LendingClub

APR

6.95%
To
35.89%

Credit Req.

Not specified

Terms

36 or 60

months

Origination Fee

1.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingClub is a great tool for borrowers that can offer competitive interest rates.... Read More

LendingClub’s most comparable product to LoanMart’s auto title loans is its unsecured personal loans, which come with lower rates but higher credit standards.

LoanMart can get you your money in one day, while LendingClub will take at least four. LoanMart can also loan you up to $10,000 more than LendingClub. Regardless, there will be very few circumstances where it wouldn’t be worth applying with LendingClub for its competitive APRs.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Brynne Conroy
Brynne Conroy |

Brynne Conroy is a writer at MagnifyMoney. You can email Brynne here

Get Personal Loan Offers
Up to $50,000

$

Won’t impact your credit score