LoanStar Title Loans Review | Rates, fees, and terms for LoanStar
LoanStar offers many examples of possible loan costs based on the amount you borrow and the term of your loan. The average APR is between 315% and 382%. You can borrow anywhere from $100 to $10,000.
You have two options for loan terms: Lump-sum repayments or installment repayments. Lump-sum loans must be paid back within 30 days. Installment loans can be repaid for up to 150 days.
No matter what loan term you choose, you will have to pay a $28 or $33 lien fee, depending on where you live. This fee is included in your APR. Before signing your loan agreement, make sure you carefully review the breakdown of finance fees.
Is LoanStar legal?
LoanStar, a licensed title loan lender, has been in operation since 1990. It is registered with the Texas Office of Consumer Credit Commissioner. The website uses 128-bit SSL encryption for your security.
LoanStar complaints and reviews
Although LoanStar has only a few reviews, they have all been negative. The high fees charged by LoanStar are a common complaint from borrowers.
Are you eligible?
To qualify for a loan, you must own your car in full. This means that you can’t make payments on it. LoanStar may have additional eligibility requirements, but you must meet the minimum income and credit score requirements.
What information is required to submit a request?
LoanStar will require you to provide a few pieces of basic information to get started online.
- Date of birth
- Year, make, and model of your car
- Contact information
You will need your lien-free vehicle title, your car, and government-issued photo identification to visit a LoanStar location.
How do I apply?
These steps will allow you to visit a LoanStar office or make an appointment.
- Visit LoanStar’s site.
- Please enter your full name, date of birth, and phone number.
- Choose your car’s year and make, as well as its model, series, and body style.
LoanStar will provide you with an estimated loan based upon the vehicle’s value. A representative from customer service will contact you to discuss the terms and set up an appointment to inspect your vehicle.
If you have a car with a name on it, you must bring them along and agree to the loan.
What are my repayment options?
Online payments can be made through LoanStar’s website. You can also visit a LoanStar branch to pay cash, check, money order, or debit card. LoanStar accepts Western Union payments and cashier’s checks.
There is a 10-day grace before the late fee is applied. LoanStar will charge you 5% of the outstanding amount or $7.50 if you fail to make your payments. You could be subject to repossession if you default or fail to repay your loan.
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