Here at Ideal Lending we strive to relieve financial hardships for customers, not add to them. This is why we offer the convenience of a grace period when you receive a title loan with us. A grace period is the fixed time period in loan contracts during which a late payment will not result in default (or late fee!).
When you receive a title loan, your payment is due every 30 days. We understand that not everyone gets paid on the week their payment is due. You have 10 days from your due date to make your payment before you are in default. It is recommended to only use the grace period when it is absolutely necessary. The 10th day should not be seen as the “actual due date”. Habitual use of the grace period often results in a higher pay-off balance at the end of their loan due to interest and accidentally waiting till after the grace period.
When you get a title loan in Boise, make sure to choose a lender that offers the option of a grace period. Additionally, use your grace period wisely and only for unexpected circumstances when paying back a Boise title loan.