Installment Loans Online
Better Personal Loans for Bad Credit
- Instant Approval from Direct Lenders
- 100% Guaranteed Online Decision
- Get up to $5,000 with No Credit Checks!
- People With Bad Credit and Good Credit are Welcome
Online Installment Loans Options With Instant Approval
What do you do when having an emergency that requires a more significant amount of money? Do you borrow from your family members or friends? Do you think that it is a problem without a solution and enter a debt circle? Stop searching for a short-term solution because it won’t work.
1FirstCashAdvance presents the most suitable financial product for your emergency when you have poor credit – an online installment loan with instant approval decision that can be repaid in monyhly installment payments. What are these loan products, how do they work, and how to get one? Find out all this information by reading the following headings. Also, you’ll be surprised about our customer service if you decide to apply with us.
Feel free to get the funding for your emergencies and forget about tight budgets, debts on credit cards, and other financial problems. We are here to assist you in getting the best deals regarding your installment loan. Just fill in the request form on your website, provide us your email address and choose the loan offer that suits your needs. Get ready to receive your money on the next business day.
What Are Online Installment Loans?
An online installment loan is a cash advance you borrow from a direct lender with a maximum amount of $5,000 and a short-term that varies from 2 to 24 months. The main advantage of these loans is that you can pay them in monthly installments with reasonable APR. A flexible repayment schedule allows you to save your monthly budget without getting into an infinite circle of needless expenses.
What Are the Other Types of Installment Loans?
There are several types of installment loans you can borrow to pay for your unplanned expenses. Try to understand every loan product and see what fits you better.
- Car loans. This financial product allows you to borrow money by using your car as collateral. The main advantage of this cash loan is that you are allowed to drive your vehicle while you pay the loan with monthly installments.
- Personal loans. You can use personal loans to pay more significant expenses like study taxes, major house renovations, or credit card debts. The maximum amount you can borrow from a personal loan is $15,000 with a full term of 36 months.
- Mortgages are used to help you pay for the house. The installment loan for mortgage funding ranges from 15 to 30 years. It is paid with monthly payments and has lower interest rates as it is a secured loan.
- Home improvement loans. A home improvement loan is a suitable financial product for renovating your house or fixing it. The amount varies by your expenses and the possibility to repay it in monthly installments.
- Vacation loans. Borrowers take vacation loans to pay for their trips and create unforgettable memories. You can use a trip loan instead of your credit card to fund your vacation.
Whatever you choose, make sure you assess your repayment risk and monthly budget before applying for an installment loan.
How Do Installment Loans Work?
Installment loans work the same as other financial products. A borrower applies online on our website by filling in the loan application form, choosing the loan sum, and submitting it. Once he does it, we send it to our network of professional direct lenders ready to provide a suitable installment loan. They review his loan request and give an instant approval decision. If approved, the consumer has to sign the loan agreement only after he reads it attentively.
Once both parties sign the contract, the lender transfers the lump sum to the clients’ checking account on the next business day. In 24 hours, he is free to access the money from his bank account and pay for his emergency expenses.
Consumers who borrowed a loan don’t have to worry about the repayment process because it is also online and 100% safe for them. The lending company just withdraws the loan amount from their bank account as soon as the due date arrives.
What to Consider Before Applying for an Installment Loan Online?
Pay attention to the interest rate of your installment loan. Usually, online direct lenders perform checks to see if you are worth giving loans with lower interest rates. In this case, you have to prove your creditworthiness by qualifying for every eligibility criteria.
Usually, short-term cash loans have higher interest rates compared to long-term cash advances. That is why you should take care of the maximum loan term of the installment loan. These terms vary by lender and state; it ranges from 20% up to 468% as an annual percentage rate. To be informed entirely, feel free to shop around and hunt the best deal from direct lenders. You’ll get your money with no additional fees.
Also, take care of the repayment terms and assess your monthly budget. In the beginning, you may think that it is enough to repay the installment loan, but there are many unexpected situations. So, try to assess your payment options and ability before applying for cash advances with monthly payments. If you are not sure, consider other options to get your funds.
What Are the Advantages of Installment Loans?
An installment loan has many benefits for a borrower that needs emergency funds as soon as possible. Read this list attentively and see how you can solve your financial problems thanks to the advantages of cash advances with monthly installments:
Easy online application. You don’t have to stay in line to apply for pre-approved installment loans. The benefits of technology allow you to make it online and 100% safe.
Transparency. There are no hidden fees applied in the borrowing process. The loan agreement is crystal clear and transparent because we work only with trustful direct lenders in your state.
Flexible repayment plan. The direct lender discusses with you all the monthly payments to give you the flexibility and convenience you need to repay the full amount and not get into a debt cycle.
No credit check on your borrowing experience. Most lending companies don’t run hard inquiries on customers’ credit backgrounds. They perform only soft polls without involving those three main credit bureaus. These soft inquiries don’t affect their credit score at all.
All types of credit scores are accepted. Even if you have no credit background, feel free to apply for installment loans online. There is a high approval rate for all consumers that need guaranteed installment loans direct lenders only.
Professional customer service. No matter what, you’ll get the best customer service in getting your funds as quickly as possible in your checking account. Don’t hesitate to ask for all the necessary information about loans with monthly payments.
How Do I Apply for Installment Loans?
The installment loan application process doesn’t take you so much time when you do it online. Access the page for a loan request, fill it in with your contact details, and don’t forget to choose the necessary sum among available installment loan amounts. When you’re done with it, submit the credit application form loan online. We will do the rest!
Installment Loans vs. Payday Loans
Installment loans and payday loans are the most popular loan products among consumers who need to cover their financial needs. Here are some differences between installment loans and payday loans:
The average interest rate of an installment loan online is around 36%, compared to the payday loan interest rate that can reach 450%.
You can pay a long-term installment loan from 2 to 24 months, but the payday loan can be repaid in 14 or 31 days.
Regarding credit history, direct lenders report on-time payments to credit bureaus to help you build a satisfying credit score. On the other hand, cash loans don’t report these payments.
Also, the repayment terms vary. You can pay an online installment loan with equal monthly payments. Meanwhile, payday loans are paid only in one lump sum when the due date arrives.
When to Borrow Installment Loans?
If you are desperate and don’t know what to do when having unexpected expenses, consider taking a cash loan with monthly repayment amounts. Here is a list of similar situations when you might need this loan product.
- Home renovations. Choose not to rely on high-interest credit cards or savings accounts and try to obtain a suitable loan to pay for your house repairs.
- Medical bills. To avoid medical debt, you can borrow a lump sum from a loan with regular installments to pay your medical assistance bills.
- Down payment for a car. In most cases, buying a car requires a down payment. Loans with monthly payment amounts can cover a down payment for vehicle purchases.
- Credit card debts. Installment loans allow you to pay off unsecured credit card debts with one regular payment.
Online Installment Loans with No Credit Check
An installment loan from direct lenders with instant approval decisions and no credit check are the perfect loan product you might get when having a bad credit score.
First of all, a “no credit check” loan means that there is only a soft check on customers’ credit history in need. Loan lenders perform only a soft review by assessing their creditworthiness. They provide the lending decision based on these credit checks, but the loan process and consumers’ credit reports aren’t affected by this additional verification.
How to Find the Best Direct Lenders for Installment Loans?
To find the best lending companies, you should follow the following steps:
- Compare APR and other additional fees. Everything is relative but not interest rates and hidden fees. People tend to save their time by not reading the contract attentively, which is a huge mistake. That is why ask the lender about the APR and finance charges applied in your state.
- Check the loan terms. The payment terms should fit your borrowing needs. Feel free to ask your lender to provide you more flexible.
- Explore all the benefits. In every state, some lenders have many benefits to provide. Discover them all by shopping around and find the loan lender that has the best loans services for you.
- Read the reviews of real people. It is essential what past clients say. Their experience would help you to make the best choice regarding loan offers.
Installment Loans with Instant Approval – Is It Possible?
No direct lender can guarantee you approval. However, there is a high approval rate for all customers. To qualify better for loans with monthly payment sums and direct deposit, make sure you meet all the requirements while filling in the application form. Be sure that you’ll receive an instant approval decision even if you have a bad credit score.
Sure, as mentioned before, customers with all credit scores are welcome to apply for same-day installment loans from direct lenders only. Just make sure you meet the eligibility criteria set by lending companies.
The number of loans depends on the state you live in. In some states, you may have up to 3 installment loans, but in others, it is forbidden. To be informed entirely about the loan number, access your state’s official website and browse the laws regarding loans.
Your credit score can be affected only if you don’t pay the monthly loan amounts on time. Also, if you don’t respect the loan term, it may affect your credit history.
You can borrow up to $5,000 from an installment loan. Before doing it, assess how much you need to solve your financial problems.
Besides loans with monthly installments, you might also get a personal loan (terms: up to $15,000 and 36 months of repayment schedule) which will help you pay your financial needs. Consider taking this loan product when you need money for more significant medical bills, study taxes, or car repairs.
You’ll access your funds on the next business day or even sooner. If you apply before noon, the lender will make a direct deposit to your bank account. But if the application process takes place in the afternoon, the service provider will make the funding on the next business day.
You don’t have to worry about the installment loan repayment. The lending company just withdraws the money from your checking account when the date is due.