A black woman sits near her computer and wonders if there are any alternatives to payday loans.

Are There Any Alternatives To Payday Loans?

Getting a payday loan can be an option if you need quick cash, but it’s not for everyone. Here are your options if you’re hunting down the best alternatives to payday loans.

Online title loans and signature installment loans are two practical options to consider if you need quick cash for an emergency. They usually offer higher borrowing amounts and extended repayment periods than payday loans.

There are several reasons to start looking into alternatives to payday loans. Online title loans and signature installment loans can provide a path to meet your urgent needs. Let's discover how.

Payday Loan Alternatives

Why Choose Online Title Loans?

Online title loans give you the convenience of applying online, and title loans are helpful if you own your car outright and want to use their value to secure a loan. A title loan is a type of secured loan that uses the value of your car title as collateral, allowing the lender to be more secure in the loan and offer more long-term arrangements for borrowers.

The difficulty with payday loans is that they are extremely short, generally only lasting 30 days and giving you very little money to borrow. On the other hand, title loans are much longer-term and can offer much more money to work with in the event of an emergency.

Just keep in mind that you’ll need to own your car outright with no liens on it, and you can’t get a title loan if you’re still making payments on your vehicle. 

Why Choose A Signature Installment Loan?

A signature installment loan is an unsecured loan that lets you borrow a sum of money with the provision that you pay it back in regular payments called installments. The benefit of signature loans is apparent: you get the cash you need quickly and have an easy-to-access record of what monthly payments you’ll be obligated to repay.

These terms are all laid out before you sign up, so you’ll never be shocked by how much money you'll owe. 

As helpful as they may be, payday loans are very short-term, which can leave you a little lost on emergency bills that take more than a month to handle. That’s why people are always looking for alternatives to payday loans.


How To Get Started With An Online Title Loan

At Delaware Title Loans, Inc., we offer title and installment loans as alternatives to payday loans. Our title loans range from $300 to $15,000. To apply, you’ll need the following required items:

  • Driver’s license or state-issued ID
  • Your lien-free vehicle title
  • Your vehicle for inspection

The application process can take as little as 30 minutes, and if approved, you'll get your money on the same day or the following business day.

Start by filling out the online form and waiting for a representative to contact you. Once they do, you’ll figure out where you want to meet so they can inspect your required items. At the meeting, they’ll review your ID, VIN, lien-free title, and the condition of your car.

After assessing everything, they’ll make a judgment as to whether you qualify for a loan. If you do, you’ll get the money you need on the same day or the following business day.

How To Get Started With An Installment Loan

Another helpful option to address a financial emergency is an installment loan. If you don’t have a car title to leverage or don’t want to deal with the short terms of payday loans, then this is the option for you. You can get an installment loan up to $1,500, but you’ll need the following items to qualify:

  • Proof of income
  • Driver’s license or other state-issued ID
  • A checking account statement from an account in your name

You can get the process started online with our secure inquiry form. Next, a representative will be in touch with you to go over the loan process and give you the location of our nearest store.

Please bring in your required items, and a representative will verify them. Once done, they’ll go through the simple paperwork and review the entire process with you. If approved, you’ll get the cash you need on the same day or the next business day!

A Hispanic woman celebrates after discovering her alternatives to payday loans.

Apply Online Today

There are many alternatives to payday loans, and they can get you more borrowed cash and extended repayment periods if you have the resources for them. When life hits you hard, you can rely on Delaware Title Loans, Inc. to provide the convenient, user-friendly loans you need to tide you over in an emergency. If you need a title loan or signature loan, apply online 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.

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.