who can get personal loans in de

Who Can Get Personal Loans In DE?

Technically, anybody over 18 years old can get personal loans in DE. However, every lender out there will have some more requirements, which is why you need to supply different documents depending on the personal loan you wish to acquire.

For instance, a Delaware title loan requires you to own a vehicle, but you don't need to own an automobile if you'd rather receive installment loans.

That’s why we’ll define the types of personal loans available in Delaware and look at the required items to help you get a picture of how likely you are of gaining approval.

Types Of Personal Loans In DE

Let's begin by looking at Delaware's two types of personal loans — title loans and installment loans.

title loans in de

Title Loans

A title loan is a short-term loan that enables you to borrow between $300 and $15,000 based on the value of your vehicle. It's popular among borrowers as we welcome all kinds of credit situations, from perfect to average, and even bad.

But since the amount of money that you qualify for depends on the value of your car, van, or truck, you should understand the factors affecting its worth. When we value your vehicle, we consider the following:

  • Your car's make and model — If you own a popular make and model, there is more demand for your vehicle, increasing the value. Makes and models like Honda Civic and Ford Mustang usually remain popular regardless of age. Additionally, luxury automobiles (BMW, Mercedes, Lexus, Tesla, etc.) are valued higher than standard brands like Nissan and Toyota.
  • Your car's current condition — Cosmetic, mechanical, and structural damage decreases the value. The reduction might be dramatic, depending on the severity.
  • Your car's odometer reading — A high odometer reading (i.e., mileage) may decrease the vehicle's value, whereas having a low odometer reading could increase it. Generally speaking, the older your car, the more miles it has traveled since people tend to drive roughly 13,500 miles per annum. 
  • Any modifications — If you have a relatively old chassis but install a shiny new engine, the vehicle is worth more than the same car with the standard engine. Simply put, the more up-to-date your vehicle is, the more it's worth. Although, adding customizations like decals and spoilers could reduce the value. 
  • Your car's age — Everybody wants the latest model. A 2021 Toyota Aygo is worth more than the 2016 version. However, classic cars like the 1963 Jeep Wagoneer are usually valued higher than newer models.

Who Can Get Them?

As long as you are over 18 years old and have the following items, you have a chance to qualify for title loans in Delaware:

  • A driver's license or a state-issued ID.
  • A lien-free vehicle title.
  • Your vehicle.

signature installment loans in de

Signature Installment Loans

A Delaware installment loan uses your signature to guarantee that you'll repay the loan. You pay it back in regular installments until the outstanding balance reaches zero. You can borrow up to $1,250 without needing collateral with our loans.

Who Can Get Them?

You must be 18 years old and have a bank account to get a signature installment loan. Specifically, you need:

  • A government-issued photo ID or a driver’s license.
  • A checking account statement.
  • Proof of income.

How To Get Personal Loans In DE

No matter which of the personal loans in DE you wish to acquire, the processes at Delaware Title Loans, Inc. are straightforward and fast. Our loan representatives help you every step of the way, but to give you a head start, you can find step-by-step guides below.

Our Title Loan Process

  1. Start by filling out our simple form for car title loans in Delaware.
  2. One of our loan representatives from your closest Delaware Title Loans, Inc. location will call you. They will tell you about the process, define the requirements, and answer your questions. They will also schedule an appointment with you at a location of your choice.
  3. After the phone call, make sure you have your driver's license (or a different kind of state-issued photo ID), a lien-free title to your vehicle, and your vehicle itself ready for the meeting with the representative.
  4. Wait while our loan representative examines your documents and quickly inspects your vehicle to ensure you qualify.
  5. If you gain approval, you will get the amount you qualify for on the same day or the following business day.

Our Signature Installment Loan Process

  1. Complete the quick form for signature installment loans online.
  2. Wait for one of our loan associates to get in touch. They will tell you about the items you need, answer your questions, and talk about the rest of the process.
  3. Take your government-issued photo identification, checking account statement, and proof of income to your nearest Delaware Title Loans, Inc.
  4. Wait while one of our loan associates verifies your required items.
  5. If you are eligible for the loan, you can finish the approval process with guidance from the loan representative.
  6. After that, you will receive the money you qualify for on the same day or the following business day.

Get Personal Loans In DE Today!

If you're over 18 and have the required items listed here, you can get personal loans in DE as soon as the end of the day. Submit an online form today for the loan type you prefer to get started. 

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

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.