Who Is Using Same-Day Installment Loans?

Same-day installment loans are an exceedingly quick way to borrow cash. While a traditional bank may take weeks to lend you money, you could feasibly receive cash from a Texas installment loan on the same day you start the process for one.

That makes these loans seen as an option by many people. Just who exactly is using these installment loans, though? Is speed really a good thing? What sort of financial situations do people using these loans deal with by getting an installment loan? We'll explain who uses same-day installment loans and how you can use the funds to pay medical expenses, bills, and repair costs.  

Who Actually Uses Same-Day Installment Loans?

1. Those That Need Money Quickly

Many of the people looking for same-day installment loans are doing so because they need access to cash now. They don't want to wait the weeks that a bank will often take to approve a loan. 

Texas Car Title and Payday Loan Services, Inc. prides itself on the speed it is able to deliver installment loans. If you finish the process before 12 pm EST on a business day, you may receive the money from your loan before the day is up. After that, and the money should be received the next business day at the latest. Long story short, you won't really have to wait long to get the money you need.

You may be surprised to know that the actual inquiry process (i.e. the part up until you sign your loan agreement) is fast too. This in-person process could take as little as 30-minutes! We know that most of you don't really want to spend hours going through document after document. You want a streamlined process. That is exactly what you get with Texas Car Title and Payday Loan Services, Inc.

piggy bank in water with life preserver

2. Those That Need To Cover Emergency Expenses

Because getting a same-day installment loan is speedy, it makes them an option for those that want to cover emergency expenses.

We welcome a lot of people here at Texas Car Title and Payday Loan Services, Inc. Each person will have their own idea about what constitutes needing emergency cash. But in simple terms, if they absolutely need something now and it can't wait until the next paycheck, then this could be seen as an emergency.

Here are a few ways in which people are using their same-day installment loans.

A. Fund Medical Expenses

There are a variety of ways people use their installment loans here. Some people may use their loans to stop their health insurance from going late. This is the last bill you want to go late as your coverage may be affected. 

Others may use the loan to cover vital medication e.g. insulin, antibiotics, and even painkillers. Or to afford urgent healthcare.

B. Ensure Bills Don't Go Late

There are some months that no matter how well a person budgets, they simply do not have enough to cover their bills.

Now, they could just let that bill go late. However, it will have several consequences such as late payment fees, increased debt, and impact on your credit score

Depending on the bill that is late, people may find themselves on the brink of eviction. Some may find their services cut off. Others may find their property is repossessed. Installment loans can be an option to avoid all of this. 

C. Repair Costs For Their Vehicle

People use their vehicles for everything. If you have a vehicle that isn't roadworthy, then you may struggle to get into work, drop your kids off at school, or even buy food. Many people use installment loans to cover vital repairs to their vehicles.

D. Repair Costs Around The Home

There are some home repairs that are emergencies. This includes structural damage, electrical issues, and even plumbing issues. They are situations that need to be dealt with right away. If they aren't, it could lead to serious injury or death. At the very least, the problems may get worse, and they will become costlier to fix. Same-day installment loans could ensure that these repairs are dealt with swiftly. 

long line at the atm

3. Those That May Struggle To Borrow Cash From A Traditional Bank

People with a less-than-brilliant credit history may struggle to borrow money from a traditional bank. Often, they will need you to have an almost pristine credit history. This isn't great because it is often those that have struggled financially in the past that need to borrow cash.

We welcome people of all credit types for our installment loans. This means that we often help people struggling to get cash elsewhere.

While Texas Car Title and Payday Loan Services, Inc. may carry out a credit check, qualifying for a loan doesn’t depend solely on the outcome of that check. If you want to find out more, you can speak to one of our representatives and they will answer all your questions.

How Getting Same-Day Installment Loans Works 

The reason why we are able to offer installment loans as soon as the same day is because our process has been streamlined. The team here at Texas Car Title and Payday Loan Services, Inc. has welcomed countless people looking for installment loans. This has allowed us to refine our processes to ensure that we can deliver cash quickly and in the most headache-free way possible.

Before you start inquiring about installment loans with us, you should make sure that you have the following documents to hand:

  • Your driver's license or another government-issued ID.
  • A checking account statement in your name.
  • Your proof of income.

Once you have gathered your documents, you can start the inquiry process for an installment loan:

  • Fill out the short form for online installment loans. Then sit back and wait for us to give you a call. This will normally take a few minutes.
  • When we call you, we will check that you have every document you need to get through the rest of the process. We will also explain the installment loans process and check whether you have any questions.
  • You can then head to one of your local Texas Car Title and Payday Loan Services, Inc. locations. We have them all over the state.
  • We will inspect your documents and may carry out a credit check. If we can lend you cash, we will tell you how much you can borrow (up to $1,500).
  • You can sign your loan agreement and wait for your cash to arrive on the same day or the following business day.

Inquire About Installment Loans Today

People use same-day installment loans for a variety of reasons. In almost all cases, this is because they need access to fast cash to cover emergency expenses. If you find yourself in the same boat, then you may also see an installment loan as an option.

If you believe an installment loan is a good choice for you, start the inquiry process today. All it takes is filling in a short 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.

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.