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Learning The Basics For These Diverse Loan Options

If you’ve been checking out the loan options provided by Idaho Title Loans, Inc., then you’re probably already aware that we provide a diverse set of loan options available. That’s good news, but how do you know which one to choose for your unique circumstances?

It’s crucial to understand the differences between each loan option we offer, so we’re going to check out the basics of our payday loans, title loans, and signature installment loans today. You can then use this information to make the financial decision that is right for you.

What Are The Different Loan Options?

basics of diverse loan options

Payday Loans

Payday loans are a form of short-term borrowing that many employed individuals turn to when they need funds in a hurry. We offer loans between $100 and $500 with this kind of borrowing, and if you have a steady income each month, you may be eligible for a payday loan.

To get this kind of loan, you need to be able to show a form of state-issued ID, a blank check from a checking account in your name, and your most recent pay stub. You can start the loan request using our online form, but you will need to come into one of our store locations to finish it off.

Payday loans are usually paid back at the start of your next pay period, which some people prefer. However, if you want a longer payback period, you may want to consider one of our other loan options.

Title Loans

Title loans are suitable for individuals who own a vehicle that they can use as collateral, and they may be beneficial if you need to borrow more money over a longer period. Our title loans range in amounts up to $15,000, depending on the make, model, age, and condition of your vehicle.

To get a title loan, you’ll need a state-issued ID, the vehicle’s title, and the vehicle itself. If you have all of these requirements on hand, simply bring all of them to a meeting with one of our agents, and after a quick inspection, you’ll find out if you’re eligible for a loan and how much you are approved to borrow.

Signature Installment Loans

A signature installment loan can be used if you don’t have collateral that you can use for a loan, and it allows you to borrow up to $1,250, depending on your personal circumstances. With this loan, your credit will be considered, unlike other loans that we offer where credit is not the determining factor. Although you should be discouraged from applying, you may still be able to get a loan even if you don’t have great credit.

To get this kind of loan, you need a state-issued ID, a statement from your checking account, and some proof of income (such as your latest pay stub). These loans need to be completed in-store, and they usually have longer payback periods than payday loans.

back to the basics of finance options

How Do I Get A Loan?

If you think one of these loans could be right for you, you can start the process by filling in the online request form found on our website. This form asks for a few basic details (which vary depending on which loan you select).

After filling out and submitting the form, one of our agents will get in touch with you to discuss your needs. Once they have a better understanding of what you need and the requirements you can provide, they will guide you through the rest of the process.

The information provided during this call will vary to some extent depending on the kind of loan you are requesting. If you want a title loan, we’ll need to send an agent to meet you and inspect your car; for a payday loan or a signature installment loan, you’ll need to head down to a store to finish everything off.

All three of these loan options are easy to apply for and we work with people in a variety of circumstances. A title loan may be the preferable option if you need a lot of money, while signature installment loans and payday loans can be better if you just want to borrow a small amount. If you need further information about any of these loans, our agents will be happy to help.

Get Started Now

Whether you’re thinking of getting a payday loan, a title loan, or a signature installment loan, Idaho Title Loans, Inc. is here to offer you some assistance. We provide a wide range of diverse loan options to help customers meet their financial goals, and now you should have a good idea of what each of these loans entails.

Different loans are suited to different situations, and depending on your personal circumstances, you might find any one of these three more appropriate for your needs. Understanding which is suitable for your situation will help you make wise financial decisions and make it even easier to get the loan that is right for you. If you still have questions, reach out today for the answers!

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

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.