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Finding The Best Loan Option Based On Your Financial Goals

You have a variety of loan options when you take out a loan from Utah Title Loans, Inc., and that includes payday loans, title loans, and signature installment loans. All three can give you access to cash quickly and you don’t need a great credit rating to get a loan. There are also relatively few bits of paperwork needed, so these loans tend to be fairly easy to access.

Whether you’re faced with an emergency because your car has broken down, you’ve got big medical bills, or your home needs repairs, these loans may be able to help, so let’s learn more about them.

What’s The Best Loan Option To Achieve Your Financial Goals?

Utah Title Loans, Inc. representative meeting with client and text Finding the best loan option based on your financial goals

A Title Loan

Title loans may be worth considering if you have a vehicle that you want to use as collateral. These loans are useful if you need a fairly large amount of money, as you may be able to borrow as much as $15,000 (depending on the make, model, age, and condition of your vehicle). This can help if you’ve got a big cost that you need to cover.

You need a few pieces of paperwork to take out a title loan. The vehicle’s title must be in your name and must not have any other loans taken against it, and you must also have some state-issued identification. Finally, you need to be willing to bring the vehicle for an inspection by one of our trained agents.

A Payday Loan

If you don’t have an eligible vehicle or you just want to borrow a small amount of money for a short period, a payday loan could be a better option for you. You can borrow between $100 and $500 with this kind of loan, depending on your job and a few other factors.

This can cover various financial emergencies and may be the best loan option for some individuals. To get this kind of loan, you’ll need some state-issued ID, as well as your most recent pay stub and a blank check to an account in your name. If you’ve got all of those things, you may be eligible for a payday loan.

A payday loan is often used if you want to pay the loan off quickly. Although the terms can vary, these loans are usually repaid at your next payday.

A Signature Installment Loan

Some people find that a signature installment loan is the best option for them. These loans are quick and easy to apply for, and they allow you to borrow as much as $1,500. You’ll need some proof of income (like your most recent pay stub), some identification, and a bank account in your name to qualify for this kind of loan.

These loans aren’t paid off as quickly as payday loans, which can make them a preferable option if you want to repay the money more gradually. Some people find a quick payback schedule better, while others like the flexibility that a signature installment loan offers.

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Which Option Should You Pick?

There are a few different factors that you’ll need to consider when taking out these loans. The first is how much money you need to borrow. You may only want a small amount, in which case a payday loan or a signature installment loan could be the best solution.

If you need more money and you have a vehicle available, a title loan might be better. The amount you can borrow is significantly higher. However, you can only choose this option if you have an eligible vehicle.

You might want to talk to an agent about your options, and you can do this by filling in the form on our website and waiting for a callback, or simply getting in touch with one of our local stores. We have 5 locations throughout the state of Utah, and you can call them directly by looking up their phone numbers under the “Locations” tab at the top of the website.

Start Your Loan Request Now

If you’ve decided that one of the options listed above is the best loan for you, Utah Title Loans, Inc. may be able to help you out. Whatever your financial goals are, you may find that a loan helps you get back on track and deal with emergencies. You’ve got a few different options for borrowing the cash, so weigh the pros and cons of each carefully.

Regardless of which type of loan you pick, the loan process is quick and easy, and you don’t have to have a great credit rating in order to be eligible. To find out more, you just need to get in touch today, and one of our trained agents can help answer any questions you may have!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Mason Roberts

Mason Roberts is a seasoned economics writer and blogger with a knack for breaking down and simply communicating the ever-changing world of finance. He is philosophically committed to the premise that financial knowledge equals financial freedom.