Quik Pawn Shop Blog

Everything you need to know about installment loans

Categories: installment loan, Money, borrow

What if you need money, but you don’t have anything you can bring in to pawn or sell? Or what if you do have items you can pawn, but the amount of money you can get isn’t nearly as much as the amount of money you need right away?

Beautiful woman looking at her savings in a piggybank

Sometimes life happens. That’s why at Quik Pawn, we offer various ways to help you get the cash you need. Whether you need a quick $50 or even up to $10,000, Quik Pawn offers pawn loans, cash advances, auto title pawns, installment loans and we also buy gold and gift cards too!


Today, we’re going to break down exactly our installment loans work, and tell you everything you need to know about our process and what is required. We get that not everyone has an expensive item they can pawn or sell when they need borrow hundreds or even thousands, or you may be someone who just prefers to repay your loan in increments over a set period of time. In either case, you may find that our installment loan options are a viable option for you.


What is an Installment Loan?

An installment loan is a loan that is repaid over time with a set number of scheduled payments, each of which usually includes principal and interest. The term of the loan may be as little as a few months or as long as 12 months at Quik Pawn Shop. Our auto installment loans start at $2,100 and you may borrow up to $15,000*at Quik Pawn. It’s the perfect way to get the money you need!

*Loans are subject to approval and an appraisal of any collateral where applicable.


What is Required to be Approved?

At Quik Pawn Shop we want to loan you the cash you need, but we don’t want you getting in over your head. To get approved for an installment loan at Quik Pawn, visit the store nearest you with the items listed below and you are on your way to get the money you need.

For a consumer installment loan:

  • At least 19 years old
  • Most current bank statement
  • Proof of income (most recent paycheck stub)
  • Proof of residence such as one of the following: utility bill, rent receipt or pay stub.
  • SSN verification
  • A valid government-issued photo ID

For an auto installment loan:

  • At least 19 years old
  • Your vehicle, a spare key and its lien-free title. The vehicle can be a car, truck, boat, motorcycle or RV
  • Proof of insurance (for loans $3,000 or above)
  • Proof of income (most recent pay stub)
  • Proof of residence such as one of the following: utility bill, rent receipt or car registration
  • SSN verification
  • A valid government-issued photo ID

Why Get an Installment Loan at Quik Pawn Shop?

Quik Pawn Shop has been a trusted consumer lender for nearly 40 years, helping hundreds of thousands of people get cash when they need it. Our rates are very competitive within the industry and we have streamlined the process to help you get your money fast and very easily.

So when you’ve come up short on cash and don’t have stuff you can pawn or sell to help get you the amount of money you need when you need it, stop by Quik Pawn Shop and ask about our installment loan options and one of our representatives can help you find a way.


Quik Pawn Shop is a family owned business with a customer first mentality. They have been operating in 15 Alabama locations for nearly 40 years! Think you’re ready to pawn an item? Speak to our friendly team at 855-402-PAWN (7296) to get started or click here to find a Quik Pawn Shop near you!


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Tags: installment loan, Money, borrow

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