Installment Loans In Utah: All You Need To Know About This Emergency Cash Loan

Many people who need quick cash to handle urgent expenses may not realize what installment loans are and how they can be beneficial. Signature installment loans are emergency loans that allow borrowers to receive quick cash without providing collateral to secure the loan or needing good credit to get approved.

In this guide from Utah Title Loans, Inc., learn the installment loans definition, how they can benefit those in a financial emergency, and what you need to get approved for a Utah installment loan. If you are in a financial emergency, you can use this guide to inform your decision on whether a signature installment loan is the right emergency funding option for your financial situation.

What Is An Installment Loan?

An installment loan is a financial tool for borrowing money quickly when you need cash urgently, such as for medical bills, home or auto repairs, or unexpected travel costs. It allows you to borrow a specific amount of money and repay it through fixed installment payments.

Unlike longer-term loans, such as title loans or personal loans, you can borrow money quickly and repay after only a few payments to handle an urgent financial emergency. At Utah Title Loans, Inc., we allow borrowers to get Utah installment loans for up to $1,500.

What Are Installment Loan Requirements?

One of the best aspects is that you only need to meet a few requirements to get quick approval for installment loans. You can only qualify for installment loans if you are at least 18 years old. Other than that, you can get emergency installment loans if you have the required items necessary for approval at Utah Title Loans, Inc.

The following are the simple required items you need for installment loan approval:

• Identification: You must provide a valid form of identification. You can use your driver’s license or any other state-issued photo ID.
• Proof of income: You must also provide proof of income to qualify for installment loans, such as your most recent pay stub or earnings statement.
• Checking account: Lastly, you must also have an active checking account registered in your name. You’ll need a blank check from that account to complete your application.

These three things are all you need to apply for an installment loan, and you likely already have them with you. Even if you don’t, it won’t take long to gather the necessary items and begin applying.

What Are Installment Loan Benefits?

Installment loans are a helpful option for borrowers because they offer many useful benefits. Signature installment loans and other emergency loans provide advantages those who get loans from traditional banks will not benefit from. Learn about some of these installment loan benefits to help determine if you feel you need to get one.

The following are some installment loan benefits:

• Few requirements: These loans only have a few requirements that you must fulfill. That means you won’t have to run around collecting a long checklist of items, unlike other financial borrowing options.
• Fast application: An installment loan takes little time to apply for. You can start at any time by filling out the online form. A loan representative will call you shortly after to walk you through the remainder of the process.
• Quick access to funds: Unlike traditional bank loans, you will not have to wait weeks to get your funds. You can learn if you can get approved on the same day you begin your application. You can receive emergency funds the same day or the next business day if approved.
• Bad credit approval: Installment loans do not require good credit because they are smaller, short-term loans. At Utah Title Loans, Inc., we allow borrowers with bad credit or no credit to get approved for signature installment loans.

Overall, the process is straightforward and stress-free. That can take a load off your mind when you’re struggling with a financial emergency and have little time or energy to deal with a lengthy application process.

Installment Loans Vs Payday Loans: Which Is The Right Borrowing Option For You?

Another option for quick cash is a payday loan. It has similar requirements to an installment loan, but which is the right option for you? The major difference between these two emergency loans is how much you can borrow. Payday loans allow borrowers to receive between $100 and $500, whereas signature installment loans can provide up to $1,500.

Payday loans are also easier to repay because most borrowers can repay them fully with their next paycheck. Those with less expensive financial emergencies may prefer payday loans, but those who need more money can get installment loans. Remember, you should only borrow as much as you need for your financial emergency to help with repayment.

How Do You Get Approved For An Installment Loan?

Installment loans are easy to get approved for. As long as you meet the installment loans mentioned above, you can get approved for emergency cash to handle your urgent expenses. The process only has a few easy steps you need to complete to get approved.

You can get quick approval for installment loans if you follow these steps:

• Step 1: Fill out the online form with your required details. Soon after that, a loan representative will call to explain the application process to you. You can ask any questions you have about installment loans now. You can also determine the best location for the in-person meeting, which can happen at one of our store locations or your home or office.
• Step 2: You’ll meet the loan representative in person so they can verify your documents and finalize the application with some simple paperwork. This part of the process can take as little as 30 minutes. Then, they’ll determine if you qualify to borrow money and, if so, how much you can borrow.
• Step 3: If your loan is approved, you could receive the money on the same day as your application or by the next business day.

Get Installment Loans With Utah Title Loans, Inc. Today!

Now that you understand what installment loans are, all that’s left is to get started with Utah Title Loans, Inc. to get your loan. All it takes to start is to fill out the online form with your basic details. Soon after, a loan representative will call your phone, so keep it close by. They’ll guide you through the rest of the application process and answer any questions you might 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.