What To Know About Getting Small Loans For Bad Credit
If you have bad credit and need emergency cash, you might consider getting help with a small loan. Two possible options that you have in Delaware are title loans and signature installment loans. This is one way that you can get the fast cash you need to handle any emergency expenses that life throws at you.
2 Types of Small Loans You Can Get with Bad Credit in Delaware
There are two main types of small loans for bad credit that you can get in Delaware. They are called title loans and signature installment loans.
1. Title Loans
A title loan is a type of secure loan that you can use to get fast cash by using your car’s title as collateral. This is not intended to be a permanent solution to a long-term financial problem, this is merely intended to be a temporary stop-gap solution to a short-term cash flow issue.
The amount of money that you can borrow depends on the condition and value of your vehicle. When you apply for a title loan in Delaware you are eligible to receive up to $15,000.
2. Signature Installment Loans
An online installment loan is another one of the small loans for bad credit that you can get in Delaware. This is a loan that lets you borrow a certain amount of money and then repay the loan in smaller installments over a period of time.
When you apply for an online installment loan in Delaware, you are eligible to borrow up to $1,500.
What Do You Need in Order to Get Small Loans for Bad Credit in Delaware?
One of the best things about applying for small loans with Delaware Title Loans, Inc. is that you do not need to prepare a long list of different documents to apply. This is how things normally work when you apply for a traditional bank loan, but not when you apply for help with Delaware Title Loans, Inc.
Title Loans Required Items
To apply for title loans with Delaware Title Loans, Inc. you only need the following things:
- You need your driver’s license, or another form of government-issued photo ID. This is so that you can prove your identity and that you are at least 18 years old or older. Minors cannot apply for title loans.
- You need the lien-free title to your vehicle. If you do not own the car outright, you cannot apply for a title loan. If the vehicle is not registered in your name, you need to go to the DMV to have them transfer the title over to you.
- You need the vehicle itself so that it can be inspected by a loan specialist agent. This is how they determine the value of your loan.
Online Installment Loans Required Items
There are just a few things that you need to apply for an online signature installment loan:
- You need your driver’s license, or another form of valid government-issued photo ID. This proves your identity and that you are a legal adult. Minors are not allowed to apply for small-time loans for bad credit.
- You need a bank statement from a checking account that is open in your name.
- You need your most recent pay stub, so that you can prove your income level and your ability to repay the loan.
Getting Started with Your Application Process
One of the best things about applying for small loans for bad credit in Delaware is that the application process is painlessly easy. Here is what you need to know to get started:
- The first step is to contact your nearest Delaware Title Loans, Inc. place. This is something that you can do over the phone or by submitting the simple online inquiry form. This will collect your information and send it to your nearest location.
- After this, you will soon be called by a loan specialist agent from Delaware Title Loans, Inc. They will confirm your information and that you have all the documents that you need. They will also answer your questions and help you schedule an appointment.
- During your appointment, your loan specialist will perform a brief inspection of your car to determine the value of your title loan, if you are applying for a title loan. If you are applying for an online installment loan, they will skip right to the next step.
- From here they will answer any final questions that you might have, and they will help you finish filling out your application. Once you are approved, you can have your emergency cash that very same day.
Get A Small Emergency Loan Today
If you need emergency cash to handle an emergency expense, you can consider getting help in the form of small loans for bad credit. These loans are not meant to be a permanent solution to long-term problems, they are meant to be a short-term cash flow solution for emergencies. You can get cash as quickly as the same day!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.