How Do Installment Loans Work In Idaho?

November 30, 2021 | Emma Frost

how do installment loans work

Learning how do installment loans work can prove to be helpful in a situation when you are looking for a way to deal with emergency expenses. That’s why in this article we will cover the exact way that signature installment loans work to give you a full and clear answer. We will also provide some advice on where you can obtain a signature installment loan in Idaho.

What Is An Installment Loan?

Before we can properly address how do installment loans work, it’s important to first understand what constitutes an installment loan.

An installment loan is a type of personal loan. You receive a sum of money that will then be paid off in equal installments over a period of time.

Unlike a typical bank loan, an installment loan is often used by those that need access to cash quickly for emergency expenses. For example, to cover repair costs or pay for an urgent medical bill. This is due to the rapid process used to qualify potential borrowers for installment loans.

Idaho Title Loans, Inc. issues signature installment loans up to $1,250. We often get through the loan process through a 30-minute meeting in person. This allows you to receive the money that you need on the same day or the following business day.

installment loan process in idaho

How Do Installment Loans Work?

The steps that you as a potential borrower will take to acquire a signature installment loan are as follows:

  1. Fill in the short inquiry form for an online installment loan.
  2. Receive a phone call from one of our representatives. They will answer your questions, provide you with further instructions, including the required items, and schedule a meeting for you.
  3. Once you are at the meeting, our loan representative will continue the process with you to determine if you qualify and how much you qualify for.
  4. If you’re qualified, you can finish the process by signing your loan agreement.
  5. Once your process is completed, you will receive your money on the same day or the following business day.

What Do You Need For An Installment Loan?

In order to obtain a signature installment loan through Idaho Title Loans, Inc., you will need the following documents:

  • A government-issued photo ID.
  • The most recent bank statement from a checking account in your name.
  • Proof of income, such as your most recent paystub.

The Installment Loan Process

We covered the steps for acquiring a signature installment loan. Let’s now take a deeper dive into each of the steps and what to expect during them.

1. Filling In An Online Form

Our online form for signature installment loans in Idaho is short and simple. We are going to be collecting some basic information about you.

One of the main goals of our online form is to connect you with one of our loan representatives. It will also allow us to match you with the closest Idaho Title Loans, Inc. location.

2. Talking To Us On The Phone

Within a few minutes of filling out that online form, one of our team members will call you on the phone.

Their main job is to ensure that your questions are asked and that the process is clear to you. They also want to ensure that you have all of the documents that you need to obtain an installment loan.

3. Meeting Us In Person

During the phone call, we’ll schedule an appointment with you at your closest Idaho Title Loans, Inc. location. Since we have locations throughout the state, there should be one close to you.

When you meet us in person, we will check your documents to determine if you qualify, and if you do, you can finish the process by signing your loan agreement.

4. Receiving Your Money

Lastly, you will be able to receive the money on the same day or the following business day.

idaho installment loan

Why Should You Choose Idaho Title Loans, Inc.?

There are several reasons why people may look into how do installment loans work. Idaho Title Loans, Inc. welcomes a wide variety of borrowers looking for fast funds for emergency expenses such as:

  • Medical bills.
  • Home and vehicle repairs.
  • Larger than expected bills.

People choose us for the speed of our service. You could be signing your loan agreement on the same day you start your process. Since you will be receiving your loan by the end of the next working day at the latest, it should also help to ensure that you can tackle emergency expenses quickly.

Inquire About Installment Loans Today 

Now that you know the exact answer to how do installment loans work, and you are familiar with how simple the process is, you can start your process to acquire one.

Fill in a short form for installment loans today. This will kick-start the process, and once you approved, you could receive the emergency money that you need soon after.