The Step-By-Step Guide To How Installment Loans Work in Texas

Learning how installment loans work in Texas can make a difference in the outcome of a financial emergency as these loans are accessible and quick to qualify for. So, since you are here, we are going to walk you, step-by-step, through how installment loans work here at Texas Car Title and Payday Loan Services, Inc.

What Exactly Is An Installment Loan?

Before we talk about how installment loans work, let’s briefly outline what they are.

A Texas installment loan is similar to a personal loan. This means that you borrow a sum of cash. It will then be paid back over a defined period of time. Texas Car Title and Payday Loan Services, Inc. will allow you to borrow up to $1,500. The exact amount that you can borrow will be determined during the in-person loan process.

How Do Installment Loans Work In Texas?

1. Fill In An Inquiry Form

The process begins by filling in an inquiry form for online installment loans. The form collects some basic information so we can get to know you. It also lets our team know that you are interested in an installment loan.

2. Wait For A Phone Call

Next step when it comes to how installment loans work will take place a few minutes after that form is submitted. One of our team members will give you a call. They will be able to answer any questions that you may have about installment loans in Texas. They will also check that you have the documents needed for an installment loan.

You will also be asked to come to your local Texas Car Title and Payday Loan Services, Inc. location to continue the loan process in person.

3. Gather The Documents You Need

You will need to bring the following documents along with you:

• A government-issued photo ID.
• Your most recent pay stub.
• A recent checking account statement that’s open in your name.

4. Visit A Texas Car Title And Payday Loan Services, Inc. Location

With your documents in hand, you can come and meet us in person.

We have Texas Car Title and Payday Loan Services, Inc. locations throughout the state, which means that it shouldn't be too difficult to get to one. During our initial phone call, we will inform you what location is closest to you.

5. Wait For Your Documents To Be Reviewed

When you arrive at our store, one of our loan representatives will go over your documents and carry out a few checks to make sure that you qualify.

6. Sign Your Loan Agreement

If you are qualified, you can finish the process by signing your loan agreement. This step concludes how installment loans work and the last thing that will remain is to receive your loan.

7. Receive Your Money

There is nothing more that you need to do here. You simply wait a few hours to a day to receive your loan.

Depending on when you finished your loan process, the money could be received as soon as the same day. If you sign that loan agreement later in the day, then you will receive it the next working day.

That is really all there is to how installment loans work in Texas. It is a simple process, and you will have guidance from our loan representatives every step of the way.

Why Choose Texas Car Title and Payday Loan Services, Inc.?

One of the main reasons for considering installment loans from Texas Car Title and Payday Loan Services, Inc. is the speed of our entire process. From filling in the inquiry form to signing the loan agreement, it can take less than a day!

Another reason is that we don’t limit what the loan can be used for. Previous borrowers have used their installment loans for all sorts of emergencies. This includes:

• Covering medical expenses, particularly if they desperately need medication.
• Home and vehicle repair costs.
• Unexpected bills.

Essentially, installment loans are an option for those that need to cover something urgently, or their next paycheck may not be enough to cover the entire cost of an emergency expense.

All credit types are welcome, including bad credit. However, you do need to ensure that you have some proof of income and a recent statement from a checking bank account in your name.

Inquire About Installment Loans Today

Now that you know how installment loans work, you have probably realized how fast and simple the process really is.

Texas Car Title and Payday Loan Services, Inc. has worked with borrowers throughout the state, and we streamlined our process to allow all our branches to perform the process at the same speed. Start your process for an installment loan today by submitting an inquiry form.

 

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