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Title Loans in Pocatello, ID
Sometimes you have payment deadlines for school tuition and fees, or maybe your landlord's been knocking on the door asking you to pay up your rent. Sometimes things can be difficult when you have to wait a week or two to get paid and wish you could get your money sooner. For those who need money in the short-term that they can't get from the bank, payday loans or car title loans in Pocatello, ID can be what they're looking for. Car title loans are usually much better to work with than payday loans and there's several reasons why.
How Car Title Loans In Pocatello, ID Are Good For Short-Term Use
Usually payday loans will come up when you need to borrow money up until you get paid, but car title loans can actually work better for that purpose. For starters, you'll usually get more time to pay back car title loans in Pocatello, though you still should pay them off as soon as possible. But you'll also usually be able to borrow more money because you're not getting a loan based on your weekly income; it's more based on the blue book value of your vehicle, though what you do make in monthly income will be considered as well. But there also are some flexible payment and refinancing options you can pursue if you're not able to pay off the title loan fully by the end of its term.
Refinancing Car Title Loans In Pocatello, ID And State Laws
Idaho law limits the term of a title loan to 30 days since it is only intended to be a short-term loan, but if you make a minimum payment on the loan, you can extend it for another term. State laws also say that if you renew car title loans in Pocatello a third time, the payment you make must then cover at least 10 percent of the principal owed to prevent deferred interest from accruing and a potential for you to be upside down on the loan. There is no penalty for completely repaying a title loan well before its due date, and if you decide you don't want to borrow money using a title loan but have already been given your money, you have until the end of business hours the day after you receive your money to return it to the lender and cancel the loan.
Applying Online And In-Person For Title Loans
Using our website, you can always apply for title loans or registration loans online, but you still need to visit the lender's store to complete the paperwork and get an inspection. What you can do though is get some information about your vehicle sent to the agency and also get a quote for your loan with our car title loan estimate application. But you should also make sure you have several documents so you don't get slowed down in the application process:
- You will need a photo ID that's government-issued such as your driver's license, passport or another valid document that shows you are at least 18 and an Idaho resident
- You must have your vehicle title with you showing you own the vehicle and have no liens on it
- You will probably need to bring proof of registration, insurance and income depending on the agency's terms
A visit to the agency's store usually won't take long if you have all your documents. But you should make sure the lender is licensed to issue Idaho title loans before signing any documents or other paperwork.