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How Installment Loans Work

If you’re wondering how an installment loan works, our guide will share the answers. Signature installment loans are flexible, allowing you to borrow up to $1,500 to tackle a financial emergency. Unlike title loans, an installment loan does not require collateral, making it easier to pursue because of its simple requirements.

All you need to get started with a Delaware installment loan is your ID, an active checking account in your name, and proof of income. The installment loan process is quick and can take as little as 30 minutes. Keep reading to discover the answer to “How does an installment loan work?”

What Is An Installment Loan?

Before deciding if signature installment loans are the right option for you, you should familiarize yourself with the definition of installment loan. An installment loan is an emergency loan that enables you to repay the borrowed amount over an extended period.

Instead of repaying the loan in one lump sum, you can repay the loan in installments over a set period — usually a few months. Thus, you have a more extended repayment period than other loans that require you to repay the borrowed amount in a month or less. This makes Delaware installment loans a flexible borrowing option for individuals who need more time to repay their loan.

How Do Installment Loans Work?

Signature installment loans are unique from other loans because of two main factors. First, installment loans do not require collateral, such as a car, to secure the loan. Second, these loans are repaid in small installments over a set period, usually two-three months — although this can vary.

Ultimately, you enjoy greater flexibility with an installment loan because you have a longer time to repay the borrowed amount. The installment loan process is quick and can take as little as 30 minutes. Let’s break down how straightforward this process can be.

Step 1: Fill Out Our Online Form

Our online inquiry form is a quick way to begin the installment loan process. The online form asks for your basic information and puts you in contact with one of our trusted loan representatives. It’s important to know that the online inquiry form is not the application, and you are not committing to taking out a loan when you submit your basic information. We keep your details secure and utilize your contact info to call you to discuss your loan options.

Step 2: Speak With Our Representative

After submitting the online inquiry form, our friendly loan representative will call you to discuss the installment loan process and answer how an installment loan works. If you decide a Delaware installment loan is the right option, our loan representative will review the required items and arrange a meeting to complete the process. Feel free to ask any questions and inquire more about the process. You can also check out our FAQ page to find some answers as well!

Step 3: Gather The Required Items

The next thing you need to do is gather the required items. The good thing is, here at Delaware Title Loans, Inc., our signature installments loan requirements are straightforward. All you need are the following:

  • Driver’s license or state-issued ID
  • Your most recent paystub
  • Your most recent statement from an active checking account in your name

You may be able to utilize an alternative form of income if you’re currently unemployed. Discuss your situation with our loan representative, who can help answer your questions.

Step 4: Visit The Store

During your initial phone call with our loan representative, you will arrange to meet at the nearest Delaware Title Loans, Inc. location. We have convenient locations near you to make the process as easy as possible. You can find our locations through our locations page on our website.

Once you arrive, our helpful loan representative will review your documents, run your credit check, assess your eligibility, and answer any questions. Once you’ve determined your meeting time and place, bring the necessary items to complete the process.

Step 5: Receive Your Emergency Money

You’ll receive your emergency money that day or the following business if approved. Be sure to stick to your repayment schedule and repay the agreed-upon amount on time. Our trusted loan representative will also review your repayment schedule and share how repaying the borrowed amount works.

Get Your Delaware Installment Loan Today!

If you’re facing a financial emergency and need quick cash for an unexpected expense, Delaware Title Loans, Inc. can help! Our signature installment loans offer a fast borrowing option for those needing a flexible repayment method. Additionally, a Delaware Installment loan doesn’t require collateral, and all you need are three simple requirements to start the process today!

Now that you know the answer to “How do installment loans work?”, fill out our online inquiry form and speak with our friendly loan representative today!

Title Loans

Title Loans

Getting an online title loan is easy! No store visit required, we come to you! Get the cash deposited straight into your bank account, and even keep your car!

Signature Installment Loans

Signature Installment Loans

Delaware Title Loans, Inc. offers signature installment loans as an easy way to get more cash with more time to pay it back. Up to $1,500 with convenient monthly payments.

Delaware Title Loans

You will be on your way to our store in no time since the call only takes a few minutes. All you need is the following items:

  • Driver’s License or State Issued I.D.
  • Lien-Free Title to Your Vehicle
  • Your Vehicle for Inspection

We also welcome all credit, so fill out our online request form and get started now!

All you have to do to start the process right now is submit our online request form on this page and one of our friendly store associates will call you right back.

When you’re ready to get the emergency cash you need without all the hassles of a traditional loan, Delaware Title Loans, Inc. has you covered. It doesn’t matter what has left you in need of cash, because with a car title loan you could get up to $15,000 today.

Delaware Title Loans