How Do I Qualify? – Payment 1 Financial

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How Do I Qualify?

We are NOT a Title Loan Company!

Your loan is based on your income and overall ability to re-pay the amount you borrow. As a responsible lender we never base your personal loan on the value of your vehicle or your FICO credit score. This responsible approach to lending keeps us in the lending industry and out of the used car industry. For this reason you will need to be able to provide proof of in-come. We will also need proof of residence and your identity.

THAT’S IT! Click here to start the process.

Other Frequently Asked Questions

What is a Payment 1 Loan?

A Payment 1 Loan is a basic, simple loan. You borrow however much it is that you need and pay it back over a period of time making payments.  It's that simple!  No gimmicks here. 

This is not a 30 day loan. There are no “Teaser Rates” or “Balloon Payments”. If your payment plan is 6 payments of $68.52, after 6 payments of $68.52 you are paid off.  We can't make it any easier than that.

What is a Cash Advance?

A cash advance is a service provided by most credit cards. If you are in the position to take advantage of a cash advance, you ought to read this carefully and then learn more about our low interest loans with payment plans. 

A cash advance allows credit cardholders to withdraw cash, up to a certain limit. For most credit cards, your limit is the credit limit (or some percentage of it).

Cash advances generally incur a fee, although this is sometimes waived. When made on a credit card, they are usually charged at a higher rate of interest than your regular credit card transaction. It also generally does not attract an interest-free period which is customarily given to cardholders who pay off their bill in full every month.

Some "purchases" made with a credit card of items that are viewed as cash are also considered to be cash advances in accordance with the credit card network's guidelines. This leads to higher interest rates on those items and the loss of the introductory grace period. These often include money orders, lottery tickets, gaming chips, and certain taxes and fees paid to certain governments.

People often confuse cash advance loans with payday cash advance.

What is a Payday Advance?

A payday cash advance is a small, short-term unsecured loan. Sometimes repayment of loan is linked to a borrower's payday. These loans are sometimes called "cash advances", though that term usually refers to cash provided by a credit card.

Payday advance loans rely on you having previous payroll and employment records. Legislation regarding payday loans varies widely between different states. Payday cash advance carry substantial risk to the lender; they have a net default rate around 6%, and according to one study, defaults cost payday lenders around a quarter of their annual revenue.

If you're considering getting a payday cash advance, please explore your options. Our loans a low interest loans with payment plans.

Testimonials

- A.S. Clovis, NM

I would like to say thank you to Payment 1 Financial for everything you have helped me with. I have a large family, and every time I'm in a pinch Payment 1 Financial has helped me out. I thank you so much for the help you have provided.

- A.S. Clovis, NM
- E.H. Austin, TX

Thank you for being there for me when I needed you most. I was about to have my truck repossessed by a title loans company when I learned that you could pay off my existing loan and give me a payment plan I could afford. I am so glad I did.

- E.H. Austin, TX
- T.S. McAllen, TX

Payment 1 Financial is the easiest loan company to do business with. I love that they will automatically draft my payments from my bank account for me and I really appreciate the text message reminder.

- T.S. McAllen, TX
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