Learn More About Our Convenient Installment Loans in Utah

Simply put, an installment loan is any kind of loan that is paid off, not by a large lump sum, but by small incremental payments called installments. These installments can occur over whatever time period is agreed upon by the lender and the borrower; weekly and biweekly installment periods are typical.

Installment loans can be further divided into either collateralized or noncollateralized loans. Collateralized installment loans are loans that are backed by a piece of property that serves as insurance against the borrower defaulting or discontinuing payment of the loan. In cases where the borrower defaults on their obligation to the lender, the lender can then take possession of the collateral to cover the expense of the loan. Typical pieces of collateral are cars. On the other hand, noncollateralized loans are not backed by collateral, and are instead dependent on a good faith arrangement between borrower and lender. These usually have higher interest rates than collateralized loans.

What Are Short Term Installment Loans For?

If you find yourself in need of some quick cash, you may want to consider a short-term installment loan. These have several benefits, including:

A predictable payment schedule – Because of the structure of installment loans, building a budget around one is relatively easy. If you know that your loan payment is going to come due on a specific date every month, you should be able to make sure that you have enough funds to cover your loan payment when that due date comes.

Manageable interest rates – Compared to high-interest payday loans, short-term installment loans usually have interest rates that are easier to manage and won’t break your savings account. Installment loans can run for as long as 24 months, allowing borrowers to find an interest rate that works for them.

If you need some quick cash, consider getting a short-term installment loan from 1st Choice Money Center, Idaho and Utah’s preferred source for loan products. Our loans are structured so that each payment goes towards paying down both the loan principal and the interest accrued, to avoid the dreaded loan-debt treadmill, where payments don’t eat into the principal and borrowers are made to pay for their loans for a long time. By comparison, our clients get debt-free faster because of our loan structures. Give us a call today to find out more.

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How 1st Choice Money Center Helps

1st Choice Money Center was founded on the belief that giving people responsible short-term loans was good business. Since then, we’ve helped members of our communities from Salt Lake City to Idaho and up and down the Wasatch Front get the cash they needed thanks to one of our low interest, short-term loans. We continued to earn their loyalty by offering reasonable terms – including waiving all pre-payment fees so our customers and their families could move on with their lives.

At 1st Choice we understand the importance of getting cash to our customers quickly – which is why we don’t require credit checks – so we can approve your loan in less than 5 minutes.

We are accessible. With over 25 stores you can walk in to apply for a loan, ask a question or just say hello. Or you can reach us from the comfort of your living room by calling 1-877-CASH-365 (1-877-227-4365) or just apply online. Our goal is to get you the help you need when you need it and to make the loan process as easy as possible.

Who are our customers?

Our customers come from all walks of life: a schoolteacher with a blown gasket; a homeowner with a burst pipe, a parent whose child’s medicine suddenly doubled in price, etc. At 1st Choice we understand that sometimes life throws you a curveball and you find yourself with needs – but not the ready cash. In these situations, you need money fast – and that’s where 1st Choice can help.

Contact Us

To find out if you qualify for one of our Short-Term Installment Loans, stop by one of our 25 locations in Utah or Idaho – or call us at 1-877-CASH-365 (1-877-227-4365). You can also visit us at any of our locations or click here to apply for a loan online.

Don’t hesitate.

Act now to get the cash that you need.

Contact us at 877-CASH-365 to apply for a loan today.