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What are Some Examples of Installment Loans?
At Liquid Loans, we specialize in helping our customers find the right loan to help with their financial circumstance. One of the best types of loans to get is the installment loan. This type of loan allows one to borrow enough money and be able to pay it off in regularly scheduled payments, with no hidden fees and penalties. This loan is a useful personal finance product, especially when it comes to paying off debts or bills. In addition to a no credit check installment loan, is a personal loan.
Which is Better, a Payday Loan or Installment Loan?
When it comes to evaluating different options, a payday or installment loan, it’s important to understand the pros and cons of each. A payday lender will offer a loan which doesn’t require a credit check in order to qualify for it. The purpose of this type of loan is to help a borrower in an emergency situation to get the funds they need, especially if they don’t have access to credit. Usually, payday loans are smaller loan amounts so they may not be able to cover many common expenses consumers face. The challenge with a payday loan is the high-interest rate, this is the most common complaint and issue borrowers have with payday loans. They’re an expensive loan to borrow and usually result in additional fees on top of the exorbitant interest rates which means a borrower will owe significantly more than they originally borrowed.
Installment loans come with a few more advantages and based on the feedback of thousands of customers we’ve helped across Utah, they are a superior loan product. Our customers are usually able to borrow more than with payday loans and are set on a consistent repayment schedule without the rollover interest and hidden fees. We have a lightning-quick application process which can you access on our website our by calling our Layton office at 385-423-2407, we can tell you in a matter of seconds if you are pre-qualified for a loan and what the next steps will be.
Many of our customers are credit challenged or may not have accumulated sufficient credit in order to use a credit card or qualify for a personal loan at a bank or credit union. We have options to help you if you’re in this situation as we know hard times will come despite what your credit score looks like. Many of our customers will use our services repeatedly if they’re in need of a short-term loan or need access to quick money for that unexpected bill or expense. You can learn more about our installment loans here or by filling out a short online application (there is no credit check).
Installment loans can be a great solution for borrowers who need to pay for an unexpected expense or emergency. We encourage our customers to understand how the loan works before agreeing to the borrowing process. It’s our priority to make sure our customers are treated fairly when so many are being taken advantage of by lenders and predatory interest rates. We have solutions if you need a loan in Layton, call us when you can at 385-423-2407.