What Does It Mean To Get Direct Lender Installment Loans?
Direct lender installment loans are one type of fast loan available to a variety of people in the area. Unlike many other loan types, though, understanding direct lender installment loans is a bit more difficult. Because this loan type isn’t as common, you might not know what they are or what they entail.
The good news is that direct lender installment loans are easy to understand once you have the information in front of you. In this article, you will learn exactly what direct lender installment loans are and if they are right for you.
What Are Direct Lender Installment Loans?
In order to understand what direct lender installment loans are, it’s best to look at the two different parts of this loan type’s name: direct lender and installment. Understanding both parts of the name will allow you to fully understand this loan type.
Direct lender installment loans come directly from the lender. Whenever you get a direct lender installment loan from Utah Title Loans, Inc., Utah Title Loans, Inc. is the direct lender you are dealing with. When dealing with these lenders, you can trust that they are legal and reputable in their practice, and you will get loaned the money directly.
The installment part is the most important aspect of this loan type’s name. It tells you how this loan type works and separates it from other similar loan types.
With installment loans, the loan type is paid back in installments, after which the loan is named. The installments will be pre-agreed upon on the day that you get approved for the loan.
Paying back loans in installments makes them convenient and easy. You can see the light at the end of the tunnel before you even sign the paperwork because you know when the loan should be paid back in full and what days you need to pay it back on.
What About Collateral?
Direct lender installment loans are sometimes called signature installment loans. The signature refers to the fact that this loan type is unsecured. It does not use a form of collateral and instead relies on your signature or promise to pay back the loan based on the agreed-upon installments.
Are Direct Lender Installment Loans Right For Me?
So, direct lender installment loans are an unsecured loan type that you pay back in installments. The next question is whether or not this loan type is right for you. Installment loans are an option for individuals who need money fast, assuming they meet the requirements of the loan.
The requirements for installment loans depend on the lender you select. At Utah Title Loans, Inc., the installment loans come with three requirements: your driver’s license, proof of income, and a checking account statement open in your name.
Your driver’s license is used to confirm your identity and whether you are 18 years or older. The proof of income is used to show that you can pay back your installment loans and how much money you should be loaned. Lastly, the checking account statement is also used to determine how much you can be loaned.
If you meet these requirements, you can get up to $1,500 in signature installment loans.
How To Apply For Direct Lender Installment Loans
Just as the requirements differ from lender to lender, so does the application process. Utah Title Loans, Inc. brags about easy and fast application processes.
To get the process started, all you need to do is head over to our home page and fill out our inquiry form. This inquiry form will get the process started and match you to the closest storefront location. As soon as you click submit, a representative will give you a call to set up an appointment and ask you a few more questions.
Whenever your appointment rolls around, bring your required items and sit down with a representative. The representative will inspect your documents and have you fill out some last-minute paperwork. This entire in-person process can take as little as 30 minutes to complete.
Because of how fast the in-person process is, you can get your installment loan money as soon as the same day or the next after you have been approved. From there, you can spend your installment loan and pay it back based on the pre-approved installments.
Apply For Direct Lender Installment Loans Today!
Once again, direct lender installment loans are installment loans you get directly from a reputable lender. This loan type allows you to see the light at the end of the tunnel from the beginning since you agree to pay it back in installments.
If an installment loan sounds right for you, head over to our home page and fill out our inquiry form. A representative will get back to you shortly so we can set up an appointment and begin helping you get the installment loan money you need.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.