Installment Loans 101: A Crash Course In Borrowing Wisely

If you’re thinking about applying for an installment loan, there are a few things that you would have to consider first.

Would you be able to pay the loan back? Can you put up collateral, or would you prefer an unsecured loan? What lender would you choose?

By the time you get to the end of this article, you’ll know whether an installment loan is the right option for you and how Missouri Title Loans, Inc. can help you find emergency money in times of need.

How Can You Borrow Wisely With An Installment Loan?

How Do Installment Loans Work?

An installment loan is any loan that can be repaid in regularly scheduled equal payments (installments). With the help of such a lending option, you’ll get access to a lump sum at once, and then you’ll be able to pay it back over a set period. The predictable payments make it easier to plan your budget and avoid missing payments.

Auto loans, student loans, mortgages, and personal loans are just a few examples of installment loans. As you can see, they can be secured or unsecured. If you do not own a valuable asset or you don’t want to put your car or house at risk, you should search for unsecured installment loans.

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What Do I Need To Apply For An Installment Loan?

To apply, you typically must provide your ID, proof of income, and a checking account statement. If, for some reason, you cannot bring in your most recent pay stub, the lender might agree to consider other documents that can prove that you have a stable income and that you’ll be able to repay the loan.

When Should I Consider An Installment Loan?

You might want to consider borrowing money if you’re dealing with a financial challenge stressing you out. Unexpected travel expenses, medical bills, urgent car repairs – all these things can easily make you feel a lot less confident about yourself if you cannot pay for these bills.

With the help of an installment loan, you can get access to emergency cash that you can use to deal with the issue and finally take the weight off your shoulders.

A Step-By-Step Guide To Taking Out An Installment Loan

The representatives at Missouri Title Loans, Inc. understand how vitally important it is for you to receive the money in the shortest timeframe. That’s why we do everything possible to simplify the process and make it as stress-free as possible.

All you would have to do is follow these steps:

  1. Complete an application form online.
  2. Wait for a representative from the nearest store location to give you a call. The friendly staff member will let you know more about the process and the items you need and answer any questions.
  3. Arrive at the store with your documents.
  4. Allow the loan representative to examine your documents and determine if you qualify for approval. This process might take just 30 minutes.
  5. In case you get approved, sign the final paperwork.
  6. Receive the money the same or the following business day.


4 Reasons To Work With Missouri Title Loans, Inc.

Choosing the right lender can be challenging today, as there are far too many service providers. Unfortunately, the absolute majority do not deserve your trust.

Thankfully, we at Missouri Title Loans, Inc. are committed to providing you with the best customer service and helping you get the money you urgently need. Our straightforward application process is one of many reasons you might do business with this company. Here are a few other benefits that you’ll be able to take advantage of:

  • You might get qualified for up to $1,500
  • You wouldn’t be required to provide any form of collateral to take out an installment loan
  • You’re only going to need your ID, most recent pay stub, and a checking account statement in your name
  • We have 17 locations across the state, so you won’t have to spend ages getting to the store

Apply For An Installment Loan Right Now!

Taking out an installment loan can be wise for those facing financial difficulty. Missouri Title Loans, Inc. can help you access as much as $1,500. The exact sum depends on your ability to repay the loan and your income, but, in any case, you can find out the loan amount in as little as 30 minutes after stepping into the store.

By the way, you can start right now from the comfort of your home. Fill out a short inquiry form, and one of our representatives will soon give you a call.


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

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.