How Do I Apply For An Installment Loan Online?

What Is an Installment Loan?

Installment loans — loans that allow you to borrow money and pay it back in equal monthly payments with a fixed interest rate.

Common Types of Installment Loans for Bad Credit

Personal Loan

A personal loan is an unsecured, lump-sum loan with a repayment period over sveral months. You make monthly payments plus interest until the loan is paid off.

Mortgage

Mortgage loans are secured loans collateralized by a piece of real estate, usually a home. Generally, these loans are paid in equal monthly installments with terms lasting 15 to 30 years.

Title Loans

Like a mortgage, a bad credit auto loan is used to purchase a vehicle, which also secures the loan. The loan is also paid in monthly installments with a fixed interest rate and payment amount.

No Credit Check Installment Loans for Bad Credit

This means when you search for installment loans no credit check and you apply through our website that our direct installment loan lenders will not do any hard credit checks pulls. It does not affect your credit to see your  loan request offer when you apply.

What Can You Do With a Bad Credit Installment Loan?

Funding Home Repairs

Use your installment loan funds to fix things around the house and make friendly budget payments.

Buying a Car

An installment loan is the most common way to finance a car purchase. You get all the cash up front so you can pay for the car all at once and then make payments back to the lender.

Consolidation of debt

You can use an installment loan to pay off higher-interest credit debt, or other loans.

Emergency Expenses

Because most installment loans allow you to use loan funds in any way, they can be used to cover all types of emergency expenses like car repairs, or a leaky roof.

Hospital Bills

Medical bills can drain your savings. To avoid this, you can use an installment loan to cover medical expenses as soon as possible.

Frequently Asked Questions

 Where can I find guaranteed approval installment loans online?

There’s no such thing as a guaranteed approval installment loan. An alternative would be to work with lenders who will look over your whole financial situation, looking at your income and income-to-debt-ratio along with a few more underwritting requirements.

Can I still get an installment loan even if I have bad credit?

Yes. Many of our lenders offer installment loans to borrowers with bad credit or no credit. They do not do hard credit checks so do not let your past credit stop you from applying.

Which is better, a payday loan or an installment loan?

It depends. For short-term unexpected expenses a patdaty loan may make sense. If you are looking to make a large purchase an installment loan could be a better options because it usually comes with longer payments and typically a lower interest rate.

Do no credit check installment loans exist?

Yes. Our lenders do not use hard credit checks. Use the income from your job as your good credit.

If approved, when will I receive my funds?

Once you agree to the rate and terms the money will be sent by direct deposit and will show in your account as soon as the next business day.

What do I need to apply for an installment loan with bad credit?

When it’s time to apply for your installment loan, here’s what you should have handy:

• Personal banking information
• Contact details
• Proof of monthly income or benefits
• Government-issued state ID or license
• United States citizen or legal resident
• Valid email address and telephone number

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