How Installment Loans Work For Utah Residents
For many, installment loans in Utah can be a little bit tricky to understand. This is because installment loans are very similar to traditional bank loans, although there are a few subtle differences that may make them more obtainable for certain people, and they are certainly faster to obtain. Let's tell you a little bit about how they work.
What Are Installment Loans In Utah Worth?
At Utah Title Loans, Inc., we can loan up to $1,500 with our installment loans. The amount that you can borrow will be dependent on your current situation.
Installment loans are similar to a loan that you would normally get from a bank. There are a few subtle differences, which we will discuss throughout this page. However, the principle is the same. You borrow a sum of cash, and then you pay it back in pre-determined installments. This means that it makes it ridiculously easy to budget your installment loan repayments. You will be told everything when you borrow the cash.
What Do You Need To Get An Installment Loan?
This is one of the major differences between installment loans and your more traditional bank loan. Here at Utah Title Loans, Inc., we do not require a wealth of documents from you. As long as you have the following, we will be able to consider your inquiry:
- Proof of income in the form of your most recent paystub.
- Checking account statement for an account in your name, preferably a recent statement.
- ID. A driver's license or government-issued ID should be fine here.
There will be a credit check carried out, but you may find that the requirements are much less strenuous than with a traditional bank loan. This means that those who may be declined for a traditional loan are still invited to inquire.
How Quickly Can You Get An Installment Loan In Utah?
Again, this is where there are differences between installment loans in Utah and more traditional loans. With Utah Title Loans, Inc., you could receive loan approval in under an hour. The funds could be in your checking account within a few hours. At a push, it will be by the end of the next working day.
How Do You Get An Installment Loan In Utah?
So, now you know the basics of installment loans in Utah, how do you actually get one? Well, the inquiry process is incredibly simple. This is because the team here at Utah Title Loans, Inc. has been working hard to refine the process to ensure that it is as hassle-free as possible.
The inquiry process for an installment loan in Utah will always begin by filling in a short inquiry form on our website. We collect some basic information from you. The whole purpose of this form is for you to let us know that you are interested in an installment loan. There are no obligations here.
That information that you add to the form will be zipped over to your local borrowing location. One of our team members will quickly check over the information and give you a call. We are happy to answer any questions that you have about the lending process. We will also double-check that you have all the documents that you need for borrowing cash.
At the end of the phone call, you will be told where your local lending location is. All of our locations are in easy-to-reach places, and you can head to them via public transport. Make sure that you bring your documents along.
When you meet us in person, we will quickly check your documents and carry out some further checks. If we can lend you cash, you will be told right away.
After this, it is just a case of signing a few forms and waiting for that cash to hit your checking account.
What You Can Use Your Utah Installment Loan For?
At no point during the installment loans in Utah process will you be asked what you plan on using your cash for. However, you are encouraged to only get an installment loan in a financial emergency. This means that you have an emergency expense that needs to be covered right away. Either it cannot wait until your next paycheck, or there won't be enough in your next paycheck to cover it.
People have used installment loans to cover the following (this is not an exhaustive list!):
- Medical expenses (including insurance premium costs)
- Vet bills
- Home repair costs
- Appliance replacement and repair
- Vehicle repair costs
- Emergency travel expenses
- Emergency childcare expenses, particularly when waiting for government funding approval
- Moving costs
- Higher than normal bills
- Food expenses
It is a good idea to know why you want to borrow cash before you reach out to us. As we said, we won't ask. This is just for your personal reference.
Get An Installment Loan Today!
The installment loans in Utah process is easy to navigate. We at Utah Title Loans, Inc. make it easy. We will guide you through every single step of the way, and it begins by filling in a short inquiry form. It takes seconds to fill in, and in just a few hours you could have the cash that you need to cover your emergency expenses. Get started today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.