LoanMart Announces the Most Popular Makes and Models for Car Title Loans

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Oct 13, 2023, 13:46 ET

VAN NUYS, Calif., Oct. 13, 2023 /PRNewswire/ -- As the third quarter of 2023 draws to a close, LoanMart is pleased to share key industry data regarding the most popular makes and models for car title loans across the country. Many different vehicles can be used to secure title loans, but some vehicles have been consistently favored among American consumers, and it comes as no surprise that these high-demand vehicles make it to the top of LoanMart's list of newly serviced loans.

The list of the top 15 most popular vehicles is as follows:

Ford F-150
Toyota Camry
Chevrolet Silverado 1500
Honda Accord
Toyota Corolla
Ford Fusion
Nissan Altima
Honda Civic
Honda CR-V
Chevrolet Malibu
Ford Escape
Ram 1500
Jeep Wrangler
GMC Sierra 1500
Chevrolet Tahoe

The Ford F-150 is not only the best-selling truck in America for the past four decades, but it also ranked #1 in terms of most funded loans against a vehicle serviced by LoanMart during the first, second, and third quarters of 2023. Out of more than 500 different vehicle models used to secure a loan, this popular truck so far has accounted for more than 3% of loans this quarter, with an average loan amount of $6,082.

Another popular American truck, the Chevrolet Silverado 1500, is tied for second on this list with the Toyota Camry at 2.8% of total funded loans in all three quarters of 2023.

From Q1 to Q3 of 2023, LoanMart saw a 36% growth in newly serviced loan volume for these 15 popular vehicle makes and models.

About LoanMart

Although LoanMart's headquarters is based in California, our mission is to provide unparalleled customer service to individuals across the nation. From humble beginnings in Sherman Oaks, California, to success in providing convenient title loans and informational resources to consumers throughout the U.S., LoanMart is proud to offer financial support to qualified Americans from various credit backgrounds who own all different kinds of vehicles.

Learn more about car title loans serviced by LoanMart online today by visiting www.800loanmart.com.

Contact Information:
[email protected]

SOURCE LoanMart