3 Facts You Must Know When Applying for a Title Loan in Utah

Facts You Must Know When Applying for a Title Loan

Getting a loan can be difficult if you don’t have a credit history, and it can be even more challenging when you have bad credit. After all, big credit lenders like banks have strict requirements to qualify for a loan. But all hope is not lost is you have a less-than-stellar credit score — you might be able to get a title loan from 1st Choice Money Center in Utah.

Also referred to as auto equity or car equity loans, this is a short-term loan that relies on your vehicle’s value. Just like payday loans in Utah, this type of loan usually has a term of 30 days. But the conditions may differ from one lending institution to another, as they are subject to the lender’s discretion.

Facts You Must Know When Applying for a Title Loan

What Do You Need to Get an Auto Equity Loan?

You need to bring your vehicle, title showing that you are its rightful owner, your driver’s license, and proof of income. Take note that the title must be lien-free, which means the car must be fully paid for. Otherwise, your application may be denied.

You do not need to have a good credit score to apply for a loan at 1st Choice Money Center. However, you do have to make sure that your requirements are complete and free from any issues. For instance, you must have a steady job. This demonstrates your ability to pay back the loan and interest.

Can You be Denied a Car Equity Loan?

The short answer is yes. If, upon assessment, we find that your car’s value is not high enough to be considered collateral, we may not be able to approve your application.

This usually happens to people looking to borrow an amount considerably higher than their vehicle’s equity. Other grounds for getting denied include not having a steady source of income or a problematic title.

Are Title Loans Legal in Utah?

Car title loans are legal in Utah, but both the borrower and the lender still must abide by the state rules and regulations that govern them. You can look into the Title Lending Registration Act in Chapter 24 of the Utah Code to learn more about these laws.

If you are new to auto equity loans or lending products in general, going to a reputable lender will take the guesswork out of choosing the best one for you. At 1st Choice Money, we have a wide range of low-interest loan offerings to cater to every need. We have branches all over Utah and Idaho, making it convenient to visit whenever you need cash fast. Check out the one nearest you!

3 Things to Consider When Choosing a Loan Provider

3 Things to Consider When Choosing a Loan Provider

Acquiring loans is no walk in the park. Whether these are title loans or payday loans, it’s important to choose a lending company that can help you come up with the best financial decision for you. But due to Covid-19, choosing a lender for any personal loans in Utah now poses certain bottlenecks that potential clients have to navigate.

Achieving a seamless loan system with your choice of lender is one those hurdles. While your consultants, family and friends may give you valuable suggestions and advice, the final decision lies in your hands to choose the best lender in Utah. Thus, we’ve listed three things to consider in your hunt for the best lenders.

3 Things to Consider When Choosing a Loan Provider

1. Reputation – Just like other lending companies, lenders leave traces, and most of the time these backgrounds can be validated through crowd sourcing or online research. You may choose to ask friends or even read reviews to see the impression and experience of a particular lender’s past clients. Outstanding customer service is a strong indicator. Your loan officer should provide you with valuable updates throughout the loan process to sustain your trust and confidence about your loan decisions.

2.  Affordability – Whether it’s big or small personal loans in Utah, fees among lending companies in the area may differ from lender to lender. These should not be mistaken for interest rates. Interest rates change over time and are usually related to clients’ financial standing, as well as the current climate of the lending industry. Fees refer to the price of a lender’s services. It is best to choose a lender with no hidden fees, so you can be stress-free throughout the loan, knowing that each payment brings you one step closer to becoming debt free.

3.  Services and Offerings – If you have never taken out loans, you will likely have lots of questions, including, does the lender offer the loan programs I need? There are common loan programs from dependable Utah lenders, but each may have slightly different requirements if the company has imposed additional overlays. There may also be particular loan types that are only available from certain lenders, including title loans in Utah and niche offerings for clients with unique needs who may not qualify for some of the loan programs.

Your choice of lender will have a huge impact on your customer experience throughout the life of your loan. Hence, it’s important to seek expert advice regarding your loan and its structure. Once you find an expert who has the experience and credentials you’re looking for, discuss your financial goals as well as your immediate needs to come up with the best loan services, be it car title loans or even bad credit personal loans. To know more details about our lending services, 1st Choice Money Center.

Being Realistic About Money Management

being realistic money management

For numerous individuals and families, particularly those on a tight budget, money management is a vital theme. Referring to areas like budgeting, investing, saving and otherwise overseeing your financial capital, money management is important for both short-term and long-term financial health.

At 1st Choice Money Center, we’re here to help those who have run into short-term money management issues with a variety of installment loans, auto title loans, signature loans and other alternatives to predatory payday loans (which we refuse to offer to clients). These solutions will help get you back on your feet if you’re dealing with limited financial struggles; there are also several money management strategies we recommend to assist you in this area. Here’s a realistic look at money management for those who do not have the widest budget.

being realistic money management

Handling Raises

If you’ve recently received a raise in your income, firstly congratulations! Secondly, it’s time to be smart about how you utilize that money.

In particular, some who lack money management skills have a tendency to overspend based on a recent raise. They assume they have more money now, so why not treat themselves? And while this sort of thing is okay in moderation, too much of it will become a major issue. Rather than turning a raise into a chance to spend more, save your additional money and put it toward future budgeting needs.

Track Your Money

Throughout any area where you budget or utilize money regularly, keep track of your spending, debts, assets and more. This starts with tracking your accounts and other funds through online banking and related methods, but continues with the use of things like spreadsheets, check registers or even newer phone apps that are meant to help you track spending and budget. One advantage of modern technology here is the ability to not only note your past spending, but also lay out how you expect your finances to be arranged in the future.

Use Lists

Speaking of tracking, utilize lists for this and similar purposes. Many of us keep a grocery list when we shop to keep us on-task – this same theme can be applied to numerous other spending areas to ensure you don’t go over budget and aren’t tempted by eye candy at the various stores or locations you enter.

Know Your Triggers

Finally, smart money management involves knowing yourself. Are you unable to resist the urge to spend money at a certain store, on a certain kind of food or in any other setting? Look for the areas and triggers that are causing you to spend above budget, and look for ways you can limit this behavior – whether it’s not going by these locations on your way home, putting limits on certain cards or other tactics.

For more on how to be realistic about money management, or to learn about any of our short-term loan programs, speak to the staff at 1st Choice Money Center today.

Holiday Expenses: Discounts, Limiting and Secret Santa

holiday expenses discounts

In parts one and two of this multi-part blog series, we’ve been going over holiday budgeting and shopping tips for those with tight financial situations. This season can be stressful for those in this position as they look to buy great gifts for their friends and family despite budgeting concerns, but the right basic techniques will help you find great presents and bring in holiday cheer without breaking the bank.

At 1st Choice Money Center, we’re here to help those who are in temporary financial binds. We offer several short-term loan products, from signature loans to car title loans and many other high-quality alternatives to predatory payday loans (which we do not offer). Today’s final entry in our series will dig into a few more themes for keeping your holiday spending within reasonable ranges while still maximizing your enjoyment of the season.

holiday expenses discounts

Discount Events

There are a number of potential locations for buying holiday gifts, and these are not limited to stores or malls. Particularly for those looking for discounts and deals, there are a few other options.

One is the yard sale, which is less common during the winter but does still happen. Be sure to take proper COVID precautions if you do attend a yard sale, including wearing a mask and distancing from others. You may also consider flea markets and related locations, which you can search on Google and Facebook Marketplace. These are often great resources for finding quality gifts without spending a ton.

Gift Limiting

In other cases, you may have to consider limiting your gift numbers or budget for certain areas. If your extended family typically buys gifts for one another, for instance, but you and some others in the group are tight on funds, the family as a whole should discuss some general limits so no one feels embarrassed about purchasing a less pricey gift. Setting a reasonable limit helps eliminate any of this shame, plus ensures everyone gets a gift that’s at least somewhat similar in value and there’s no jealousy to worry about.

Secret Santa

One specific method for limiting gifts that many families, office groups or others take: Secret Santa, which involves each person in a given group being assigned someone else to buy a gift for – but this is the only person in this group you buy for. This is another area where the group will typically place a dollar limit on the purchase, and then everyone will be randomly assigned their person to buy a gift for.

For more on how to save money during holiday shopping and budgeting areas, or for more on our installment loans and other short-term loans for those with budgetary concerns, speak to the staff at 1st Choice Money Center today.

More Ways to Lower Your Holiday Gift Expenses

lower holiday gift expenses

In part one of this multi-part blog series, we went over some basic tips for those on a somewhat tight budget this holiday season. While the holidays involve increased spending for many in areas like gifts and special meals, those struggling with their finances are regularly looking for ways to celebrate the season without going overboard on their costs.

At 1st Choice Money Center, we’re here to help. Not only do we offer a variety of short-term loans, from auto title loans to signature loans and several other personal loan types, but we also provide our clients with basic expertise and tips on how to manage their money throughout the year, including during holiday season. Today’s part two of our series will dig into a few more areas to keep a close eye on with regard to holiday spending.

lower holiday gift expenses

Cards Over Gifts

Are you the type who likes sending some kind of holiday greeting or gift to a large number of people in your life? If so, and if you’re looking to keep the budget reasonable, one great method here is only selecting pricy gifts for the top few people (usually family members) on your list – then sending cards or greetings to everyone else.

This is a way to let people know you’re thinking of them without running up a huge spending tab. To go the extra mile, hand-write each individual card or note, showing friends and family that while you may not have endless funds to devote to them, you’re giving them the gift of your time and effort.

Online Discounts

One area that’s relatively obvious, but that we wanted to mention anyway, is taking advantage of online discounts. Various “Black Friday” sales and deals begin as long as a month before Thanksgiving for many online retailers, and there are numerous avenues to finding great discounts on the items you’re looking for. Many are able to save upwards of 50% on what they would have spent at another time of year, all without leaving the computer.

Wrapping Themes

For those you do purchase gifts for, a handy money-saver is in the realm of wrapping. Instead of spending big on brand new paper and other design elements, head over to a local dollar or thrift store – they’ll have numerous ideal wrapping options, many of which look good-as-new despite costing a fraction of other options. And as we noted above, if you combine these themes with hand-written notes and personal care, it will show those you’re buying gifts for that you truly care about them even if you haven’t spent a fortune on their gift.

For more on how to budget properly for holiday shopping, or to learn about any of our personal or installment loans to help with financial strain this time of year, speak to the staff at 1st Choice Money Center today.

Early Budgeting and Themes for Holiday Shopping, Part 1

budgeting themes holiday shopping

The weather outside may not quite indicate holiday season, but take a look at the calendar – it’s practically right around the corner. For those who like to purchase significant gifts and cards for friends and family during the holiday portion of the year, especially those who are tight on funds for any reason, it’s nearing time to begin budgeting for this theme.

At 1st Choice Money Center, we’re proud to offer a variety of short-term loans to assist those in need of a bit of financial boost, from car title loans to installment loans, signature loans and many other alternatives to payday loans – which are predatory and not offered here. In addition to providing many clients with a financial outlet to assist them with minor expenses like holiday spending, we’re also happy to offer tips and expertise on budgeting properly for this time. This multi-part blog series will go over a wide swath of approaches we recommend.

budgeting themes holiday shopping

Tighten Up Now

You might be thinking: It’s only October! Why begin holiday budgeting so early?

Well, because every penny counts, especially for anyone dealing with financial strain. Funds you save now on top of your normal budgeting will feel like found money when you need them for holiday gifts or decorations. In addition, settling yourself into a general theme of frugality is a great way to save a few bucks here and there and get into this helpful pattern.

Budget and Basic Lists

On top of being more frugal and looking for savings wherever possible leading into holiday season, take a few minutes well ahead of time to go over a general list of things you’ll want to purchase. Start with major gifts for those closest to you and work your way down to those who you only want to send cards or other greetings to. This will help you avoid impulse spending when the time comes, a major factor in saving money around holiday time.

Once you have a decent grasp of your general list, begin pricing out items and setting a budget. If you discover your list is too extensive for your budget, you have plenty of time to consider it and pare things down.

Budgeting Tools

There are a couple excellent modern tools available to assist you with holiday budgeting:

  • Online research: From online shopping to the ability to compare prices between several brick-and-mortar outlets without ever leaving home, online research is enormously beneficial.
  • Budgeting apps: There are a number of budgeting apps out there, from general ones to those specific to the holidays. They allow you to set budgets, track your spending down to the dollar and even receive automatic updates.

For more on budgeting early for the holidays, or to learn about how any of our short-term loan products may assist you here, speak to the staff at 1st Choice Money Center today.

Loan Process for Those With Poor Credit Ratings, Part 2

loan process poor credit ratings

In part one of this two-part blog series, we went over some general tips on how to obtain a loan despite having a poor credit score. Credit score is a big factor in obtaining loans, to be sure, but there are loan types and methods to take to secure loan funds even if your credit is not in the place you’d like it to be.

At 1st Choice Money Center, we’re here to help. We offer several excellent loan types for those in various situations, from car title loans to numerous bad credit personal loans and alternatives to predatory payday loans. In today’s part two of our series, we’ll go over a few additional tips we can offer for obtaining a loan despite a bad credit score or history.

loan process poor credit ratings

Prove Repayment Capability

There are some cases where your credit score may be in the process of being rebuilt, but is still on the low end – but meanwhile, your overall financial situation has improved significantly. If you can prove you will be able to repay a loan amount based on new income changes, bank statements and related factors, there’s a better chance you’ll be lent the funds you need.

One possible related alternative here is having a cosigner, or someone who helps you guarantee the debt will be paid back. This must be someone with whom you have mutual trust, however, as a failure from you to repay the loan will land on your cosigner when creditors come looking for their funds.

Look Out for Scams

Sadly, there are a number of predatory individuals and companies who attempt to prey on those with poor credit scores or other financial deficiencies. Many of these will offer “payday” loans that have been recognized as predatory, while others will stick to a variety of outright advance-fee loan scams that pull money straight out of your pocket. If you’re unsure about a given lender, contact your state’s Department of Banking or Department of Financial Regulation – or the Better Business Bureau.

Reputable, Quality Lender

Down similar lines, it’s important to make sure you’re taking your loan out from a quality lender who not only has a strong reputation, but also offers the ideal loan program for you. There are several such programs, and which is best for you will depend on several factors, including not only your credit score but also other financial and need factors. A quality lender like ours will help you evaluate your situation and choose the best loan option based on it.

For more on how to obtain a loan despite not having ideal credit, or to learn about any of our signature loans, installment loans or related services, speak to the staff at 1st Choice Money Center today.

Loan Process for Those With Poor Credit Ratings, Part 1

: loan process poor credit

Recently in this space, we went over some of the top loan options available for those with limited or poor credit scores or credit histories. While finding loan funds can be a bit more difficult for those in this position, there are still several loan types available to meet your needs.

At 1st Choice Money Center, we offer numerous such loan types as alternatives to payday loans, such as car title loans, personal loans and several others. In addition to identifying the proper loan program to meet your needs if you’re in a poor credit situation, there are several additional steps you should be taking during this process. This two-part blog series will go over several of the steps and themes you should consider for procuring a loan despite bad credit.

: loan process poor credit

Collect and Review Personal Information

For starters, you should take the time to gather and review all your personal information as it pertains to a potential loan. This begins with your actual need for the loan to begin with – evaluate your finances comprehensively to determine that you need a loan, plus the general amount you require.

From here, take a close look at your credit score in particular. Credit scores run up to 850, but you don’t need a score anywhere near this maximum to obtain many personal loan types. If your score is under 580, though, you may be limited to certain specific loan types in many cases.

Credit Score Improvement

If you check your score and discover it’s below this range or another you require for a given loan application, take some time to try and improve your score before applying. Methods here include paying down old loans, disputing errors that might be present and limiting new credit inquiries or major spending. If you’re able to raise your credit score by just a bit, you may see your range of loan options increase significantly.

Terms and Factors

As you move toward the loan options available to you, take the time to go over the specific terms and factors involved in the conversation. Look closely at APR, which stands for Annual Percentage Rate – this is the total annual cost of the loan including all interest and fees, which gives you the widest overall picture of what you’ll be paying. If you do not look at APR and choose instead to look at individual rate areas, you may miss one or more in your calculations and end up paying far more than you were planning, which could further damage your credit in the process.

For more on how to evaluate loan options and terms when you have poor credit, or to learn about any of our installment loans or related services, speak to the staff at 1st Choice Money Center today.

Lowering Grocery Bills on a Tight Budget, Part 2

lowering grocery bills tight budget

In part one of this two-part blog series, we went over some basics on how those faced with a tight financial budget can save money within the food and grocery realm. Costs in this area can add up over a given month, but with the right attention to detail and discipline, you can reduce your grocery bills significantly and save funds for other needs like debt repayment.

At 1st Choice Money Center, we’re here to help with a variety of advance cash loans for those who may be in a temporary financial bind, including signature loans, car title loans and several other great alternatives to predatory payday loans (which we don’t offer). In today’s part two of our series, we’ll go over a few other belt-tightening methods we can recommend when it comes to food and groceries to help you limit your spending and keep your overall finances in a good place.

lowering grocery bills tight budget

Food Inventory

Where possible and realistic, look to build up a stockpile of certain foods or ingredients. We’re talking mostly about non-perishable items that won’t spoil if you save them for a period of time, including rice, pasta, beans, canned items and several others.

You can even hit this same theme with many perishables that can be frozen, such as bread, meats, poultry and many vegetables. Creating a stockpile of these items limits the need for you to hit the grocery store often – this, in turn, limits your impulse spending and also the gas you use going to and from your grocer. If possible, you want to build up an inventory that will last at least a couple months.

Weekly Menu

Down similar lines, using both your long-term inventory and recently-purchased items, spend some time each week either formulating a specific menu or at least outlining many of your major at-home meals. While it’s fine to have an impulsive meal here or there, you’ll save yourself time and money if you have some recipes set out in advance. If you live with family, get their input and ensure everyone has their say on the weekly menu.

Minimize Food Waste

Finally, one major area to consider here is limiting your wasted food. A shocking statistic reveals that in the United States, roughly 40% of the food produced is thrown away – but you can do much better than this with a diligent effort, and save yourself some big money in the process. Think about the other areas where you could apply funds if you reduced your wasted food down to 10% or something even lower.

For more on how to save money on monthly groceries to improve your finances, or to learn about any of our installment or short-term loans, speak to the staff at 1st Choice Money Center today.

Lowering Grocery Bills on a Tight Budget, Part 1

lowering grocery bills budget

For many Americans out there, getting by financially is a struggle. Many of us live paycheck-to-paycheck and may struggle with certain emergency costs when they crop up, and might be looking for resources in the event this happens.

At 1st Choice Money Center, we’re here to help. We offer a variety of short-term loan products for those in need of a quick cash infusion, including signature loans, auto title loans and several other alternatives to payday loans. In addition, we’re happy to offer basic tips on common day-to-day financial areas and what those in a financial bind might be able to do to limit certain expanses. One major area here: Groceries, which everyone needs but can vary pretty widely in terms of your spending. This two-part blog will go over several tips we can offer on lowering your grocery bill, either temporarily or permanently, to fit a tight budget.

lowering grocery bills budget

Make a List

For starters, one theme that’s been proven across numerous studies (and is backed by simple common sense): The less time you spend in a grocery store, the less money you’re likely to spend. This is why it’s vital to make a detailed shopping list in advance of your trip, keeping you focused on the proper items you need.

This also keeps you from being distracted or tantalized by too many of the tasty-looking treats certain to be present as you move through the store. Impulse buying is something that hurts many consumers, both in grocery stores and other purchasing situations, but having a list and sticking to it is a great way of avoiding this practice.

Utilize Coupons

There are numerous sources of coupons and various discounts for grocery stores, and you should capitalize on these whenever the opportunity presents itself. Look for grocery store fliers and other mailers you may receive, plus keep your receipt from previous purchases – they often contain discounts.

In addition, look online for numerous printable coupon resources. On top of this, pay attention to when your store is offering sales on certain items, then combine these with your coupons for even better savings.

Keep a Tally

Not only should you keep your list handy, you should also have a target budget – and a method for tracking how close you’re coming to it. Nearly every modern smartphone has a calculator on it, and you can bring your own from home if you do not have one. As you move through your various items on the list, keep track of your budget and do your best not to go over it.

For more on saving money on groceries to help your finances, or to learn about any of our installment or other short-term loans for those in need, speak to the staff at 1st Choice Money Center today.