How To Get A Title Loan In Utah
March 26, 2021 | Peyton Sawyer
Unsure on how to get a title loan in Utah? Then you're in the right place. We are going to look at the definition, how-to, and the advantages of this type of loan here.
Learn How To Get A Title Loan
What Is A Title Loan?
A title loan is a financial aid made specifically for short-term requirements. You must be the full owner of a car, van, or truck (have a lien-free title) to be eligible.
Based on the value of your vehicle, you can borrow a lump sum between $300 and $15,000. Title loans have risen in popularity since their birth in the early 1990s due to the looser application requirements and short processing time. It's worth noting, however, that they should only be used for short-term emergency financial problems, not longer-term worries.
How Do Title Loans Work?
Title loans use your vehicle (car, SUV, truck, etc.) title as collateral. This means that you can borrow based on the vehicle's value. Bear in mind that this value will be determined by the loan expert you speak to and not by the general market value of your car (although this does come into play, of course).
The terms tend to be very short for these loans. However, in more recent years, this repayment term has lengthened to become far more flexible for those in need.
How to Get A Title Loan in Utah: The Advantages
There are plenty of advantages when it comes to title loans so we will only discuss a handful of them here.
1. Access to Near-Instant Money
When compared with standard bank loans, title loans offer extremely quick access to money. Instead of waiting a few weeks for your cash, it's a matter of hours. Sometimes even as little as 30 minutes for you to receive up to $15,000!
2. Fewer Requirements Than Traditional Loans
Traditional loan lenders ask that you have all kinds of paperwork to apply and gain approval. Even then, your approval isn't guaranteed!
With a title loan in Utah, however, you just need your driver's license (or another form of state-issued photo ID), your vehicle, and your lien-free vehicle title.
3. Flexible Repayment Schemes
Originally, title loans were made specifically for those who wanted extremely short repayment terms. However, as mentioned, the terms are much more flexible. A quick chat with us will determine how long you will have to repay us comfortably. We don't ever want to put you in an uncomfortable monetary situation.
4. You Can Keep Your Vehicle
Contrary to the belief held by many people, you can continue to use your car while you are repaying and apply for the title loan. Your vehicle is simply there as collateral to determine how much money you are eligible to borrow.
5. Bad to No Credit Accepted
Banks and other traditional lenders expect an average to perfect credit score. But this is almost a pipe dream for many people.
This is where title loans come into play. Whether you have good, bad, or no credit score, you will be able to apply for a title loan. You shouldn't be continuously punished for your past financial mistakes.
How to Get A Title Loan in Utah: The Step-by-Step Process
All you need to do is follow this step-by-step guide for how to get a title loan in Utah.
- Head to UtahTitleLoansInc.com by clicking on the link.
- Fill out the inquiry form found on our website. It is short so it will take roughly 5 minutes.
- Stay near the phone and pick it up when one of our friendly loan representatives rings. They will discuss the rest of the process, answer any of your questions, and define the paperwork you'll need to submit.
- During the conversation, you will have decided whether you want to meet the loan expert at your closest Utah Title Loans storefront or a different location. Regardless, head to the chosen place with your vehicle, lien-free title to your vehicle, and your driver's license (or a different kind of state-issued ID card).
- Wait while a loan representative appraises your vehicle and examines your paperwork. This will determine whether you gain approval.
- If you are approved, you will receive the money on the same day.
How to Get A Title Loan in Utah: The Bottom Line
Finally, you have the answers for how to get a title loan in Utah. By following the step-by-step instructions above and taking into account the definition of this financial aid, you can have the money to fund your emergency in no time. I hope our tips help you know how to get an emergency title loan.
So, what are you waiting for? Get in touch with us at Utah Title Loans Inc. today to get the available title loan money that is ready to be picked up.