CheckSmart Loans Reviews
CheckSmart is a flexible loans lending company that has operated since 1987 from its base in the State of Ohio, U.S.A. The company is fully registered to operate in the money-lending industry under the Virginia State Corporation Commission. Under this license company is authorized to lend you loans in two categories; payday and title loans—whichever suits you best.Website: www.checksmartstores.com
CheckSmart asserts that they are in business to help anyone with a cash crunch access urgent cash to take care of emergencies. Whatever the emergency, the company states it can extend a short-term, direct loan in a most transparent and comparably affordable way.
The whole process is quite easy to navigate. After submitting the necessary information and meeting CheckSmart’s eligibility status, your line of credit can be accepted and approved in as fast as a few minutes after application.
They can lend you money to cover such emergencies as a child’s health concern, an emergency home repair, car repair, or other such circumstances that require fast cash that isn’t absurdly expensive to service later on after covering the need.
A background check reveals company is licensed to operate in the US. They are also enlisted and accredited as a reputable business by the Better Business Bureau (BBB). Trust issues should not be issues here given the accreditation and license.
If you are concerned that a poor credit rating will jumble your chance of getting money to cover your momentary crunch, website’s cash advance option might be a good option. For larger amounts, the Title Option offer might be your choice if you happen to own a vehicle without liens. However, these loans are best taken for emergency situations and not as long-term solutions as they can be expensive that way.
Their website (www. checksmartstores.com ) allows individuals from across a number of U.S states to apply to its lending program. The company can either lend you the line of credit online through their website or offline at any one of their locations in the 9 states they have a physical presence. You’ll need to physically present yourself at their stores to apply for a title loan.
These locations are:
For each of these states, there are different short-term loan options on offer. Anyone from any of the listed states who’s in need of quick cash will find company offering two types of loans—they call them “Options”. These are Title Option or Loan Option, under which various loans fall within.
In Arizona, Organization has only Title Option on offer. But in the states of Indiana, Ohio, Kentucky, and Michigan, the company offers Loan Option. As for the residents of Kansas, Missouri, Utah, and Virginia, the options are even more flexible. They have a choice to choose between Title and Loan Options since website avails both in the four states.
To be eligible for payday loans you must meet a certain threshold. This includes:
- Be above the age of 18 years
- Have proof of a steady source of income
- Have a valid bank account
- Government-issued ID for Identification
- Proof of a social security number
- Be subject to a nationwide database
To qualify for the title options loan, on top of the above threshold, you must own a vehicle that has no liens. The approved amount will depend on the value of the vehicle you use to guarantee the title loan.
Here’s what you need to understand either choice.
While most people have at times seen advertisements on Title loans, they probably did not understand what is a title loan. A title loan is a short-term way to acquire cash from a loan that is guaranteed using a specified (and acknowledged) form of collateral.
In the case of CheckSmart, a Title Option is one where your vehicle’s title guarantees the short-term funding. Normally, as soon as you guarantee this, you can get the cash you need in as few as 15 minutes. Their title loan is not only eligible for interest-only payments until the borrower can pay it off in full, but also qualifies for refinancing.
Also, and unlike the funding Options choice, a title loan lets borrow up to $25,000 ($10,000 in Kansas). However, you get to keep the vehicle as you pay back.
With this, Company will not run your name to check your credit rating. A credit check is deemed worthless, so even if you have a poor credit score you are still able to get quick money to help you in case of an emergency or another personal need you might have. It is up to the borrower to use the money advanced however they want.
On the other hand, their money option program will help you get cash for small expenses that need urgent attendance.
A typical small loan that a Check Smart Options customer can expect will range from $50-$605. These are payday loans, and typically require to be paid back in 14 days.
The money is approved instantly. All you need do is go to one of their stores, consult from one of their staff about how much you qualify to borrow, and write out a check for a similar amount (plus finance charge) and you have the cash—that simple.
For example, in Utah, Borrowers can do this at their Ogden, Salt Lake City and Orem stores.
CheckSmart holds that check up to 30-33 days to allow for your next payday. This allows you to pay off the debt in cash. Alternatively, company can deposit the check you wrote out to clear the loan.
How much fees does company charge?
Fees vary depending on the type of loan you choose. Fees on a payday loan amount to $15 for every $100 borrowed, and are based on a 14-day period and one payment.
Organization’s staff inspects your vehicle to reach the approved amount for a Title loan. Based on the approved amount, you can then calculate how much it costs. You need to make payments every 30 days—the principal plus finance charge amount or only the finance charge in case you are a little stuck.
First, the application is straightforward—rather simple and quick. Second, you can enjoy the convenience of applying for their cash advance Options from the comfort of your home via their website. This is a secure site, too. Their loans are also almost instant; no extra paperwork. No hassle. No lengthy processing time and fees like in a bank. Borrowers do not need to have a good credit rating, either.
Plus you can walk into their stores and pay off the payday cash (instead of cashing the postdated check you wrote earlier) at no extra cost.
People who wouldn’t ordinarily apply for a bank loan can use CheckSmart. Also, because you can guarantee a title loan using your cleared vehicle, you can get up to $25,000. What’s even better is you still get to keep your vehicle. And in case you get stuck in your title cash repayments, you can first pay off the finance charges every 30 days; pay the principal when you are able.
They have over 214 stores spread across 9 states in the U.S. Check their website to locate your local store.
Company does not have a promotion in full play right now, hence no discount codes currently.