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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.



About lender

LoanCenter is an online provider of auto loans, car title loans, and refinancing options for both types. You can also apply for private loans.

The company was established in 2015 in Los Angeles. LoanCenter is aimed at making lending easier. The company's services do not work in the whole USA. Different loans have specific restrictions in serviced states.

Car title loans are available in 19 US states. These are Alabama, Arizona, California, Florida, Georgia, Idaho, Indiana, Kentucky, Michigan, Missouri, Mississippi, New Mexico, Ohio, South Carolina, Tennessee, Texas, Utah, Washington, and Wisconsin.

Pros and cons

Since applying for a loan at LoanCenter can entail significant expenses, make sure you make a deliberate and balanced decision.


  • The quick and convenient application process

  • There are various financing options for borrowers with bad credit

  • The ability to make additional payments

  • There are no fees for early repayment

  • There is an opportunity to have a guarantor

  • You will receive funds to your account within 48 hours

  • Discounts for military personnel.


  • Limited availability

  • There can be a loan origination fee

  • Interest rates can be pretty high.

Terms and conditions

LoanCenter offers unsecured loans in installments ranging from $2,000 to $3,500 and $2,000 to $30,000 if you take out a secured loan.

LoanCenter's interest rates depend on the state in which the borrower lives.

The company's annual interest rates start from 35.50% and can reach 199.99%. For a borrower with a loan amount of $ 4,000, 80% per annum, and a term of 24 months, the payment will be $338.61. At the same time, the total amount of interest will be $4126.87. The timing of payments also affects the interest on the loan.

The origination fee is usually 5% of the financing amount. For example, if you have a loan of $2,000, LoanCenter will charge you a commission of $100. LoanCenter has no prepayment penalty so that you can repay your loan anytime.

Auto loans

You can choose a car directly on the website and set up an auto loan based on your current financial situation. For example, you can select the minimum monthly payment if the default amount does not suit you. If you need to cut costs in the long run, LoanCenter will provide you with the lowest possible APR. You can also choose the maximum available loan amount. Here, the number of options for selecting cars will be greater.

Car title loans

The company provides car title loans, motorcycle title loans, and RV title loans. One advantage is that you can use your vehicle during the loan repayment period. In LoanCenter, you can apply for car title loans with ownership rights for up to 48 months. Such long terms allow borrowers to make monthly payments acceptable to them. However, the term's length means you will have to pay more interest.


LoanCenter offers auto loan refinancing as well as refinancing of car title loans if you are not satisfied with your current rates and payments. The company will issue you a new loan, but on different terms. Borrowers get the opportunity to improve their conditions in several ways:

  • Lowering interest rates

  • Reducing monthly payments

  • Waiving penalties.

Funding a loan

The company will transfer the money to you as soon as they approve your application. For this to happen, you must submit a pre-qualification form. With a refinancing, the company will immediately repay your loan with another lender after approval.

After you submit your application, LoanCenter will examine your information. A company representative will contact you to discuss the terms and rates for your loan if you meet all the requirements. You can get loan approval within an hour after submitting your application. Funding usually takes one business day.


What is LoanCenter?

LoanCenter is an auto loan and car title loan provider. The company offers private loans and refinancing as well.

How much can I borrow from LoanCenter?

You can usually borrow between $2,000 and $3,500 if you take out an unsecured installment loan and between $2,000 and $30,000 if you qualify for a secured installment loan.

What bank issues LoanCenter auto loans?

The company's loans are issued by several lenders, among them are First Electronic Bank, a Utah-chartered industrial bank in Salt Lake City, FDIC member; Wilshire Commercial Capital LLC d/b/a LoanCenter and Wilshire Consumer Credit.


Company documents

Privacy Policy
Terms of use

Our motto says it all: “Lending Made Easy.”

© Wilshire Commercial Capital, LLC.

Calculate loan payments in LoanCenter

LoanCenter calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

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Loan term

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What to focus on before applying for a loan with LoanCenter

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between LoanCenter and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All LoanCenter’s reviews by September 2022
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