Why Are Installment Loans So Hard To Find?
Getting fast cash with installment loans is way more work than it actually should be. In this post I want to show you why this is and some legit places that you can get these loans from.
Understand that any loan that allows you to make payments on them is considered an “installment loan”, this includes title, bank, and credit union loans. This means that there are probably hundreds of installment loan lenders out there! However, I have a feeling though that this isn’t the type of loan that you’re looking for. I’m assuming that you’re looking for the loans that are basically very large payday loans that hook you up based on your income, rather than credit score, and give you several months to get it paid back. The rest of this post will show you why you’re having such a hard time finding these, as well as give you a couple of lenders that might be able to hook you up.
The Ghost Installment Loan
The reason that installment loans are so hard to find is simply because there aren’t a lot of lenders that offer them. There are, however, tons of websites that advertise that they can help you out. All this does is frustrate the person that’s looking to borrow money online!
Also, tons of payday loan lenders say that they can offer a $1500 loan, but it’s extremely difficult to get a loan that big from them because the income requirement is extremely high. And keep in mind that payday loans will require that you pay the loan back in full, not in installments. Sure, you’ll be able to rollover or extend your loan, but that will cost a ton to keep making payments on it every couple of weeks.
So what can you do? Well, there are some lenders out there that will help you get the installment loan that you need. Cash Call is the first company that comes to mind, but they do a pretty thorough credit check and have ridiculous rates. Think Cash used to offer a loan like this, but they’ve shut down most of their lending operations. So what’s left? Let’s go over a couple of lenders that provide installment loans.
100 Day Loans
100 Day Loans provides short term installment loans in almost every state. They have worked out a way that turns most payday loans into much longer term loans that give you a ton more time to get it paid back. It’s different than just rolling the loan over, instead it’s a different set of terms.
These loans are going to be much more affordable than Cash Call, but it won’t be cheap. Also, they may check your credit depending on how much you’re looking to borrow. The more that you’re looking for, the more likely it is that they want to check your credit score. Just remember that bad credit doesn’t always disqualify you for a loan, so it won’t hurt to apply any way.
Clicking on their banner up there will take you right to their site.
Cash Net is one of the most respected payday loan lenders in the industry, and they also offer installment loans. There are specific states that they offer these medium term loans in.
What’s really cool about Cash Net’s offering is that their terms are only four or five months. The last thing you want is to get a loan to cover an emergency expense right now and then be stuck paying it back for years to come!
The banner above will take you to their site where you can figure out if you qualify for an installment loan with Cash Net.
As I can verify more lenders I will update this page, but for now these are the only two that I can confidently say will help you out!