Reasons to Consider an Installment Loan
During these uncertain economic times, many people could use some financial assistance. This includes situations such as emergencies, home improvement, consolidating debt or even that dream family vacation. An installment loan is an option that might work for you. At CashloanToday, we work to connect people with installment loans that might work for them.
Quick and Convenient Online Loans
Searching for a loan can often be a daunting and confusing task, especially given the wide array of available options. This is why we created CashloanToday. Our service has been designed and optimized with the customer in mind. We work to offer you an innovative and user friendly experience.
Given that each individual lender is looking for a particular type of customer, many people end up getting turned down multiple times for any number of reasons.
Our proprietary technology is crafted to efficiently and quickly evaluate your loan request, and try to connect you with a lender that offers a loan that can work for you. This means that by submitting a loan request on CashloanToday, you can help yourself by accessing our network of lenders.
With our simple three-step loan request process, you can find out if you qualify for the help you need.
To begin the process of getting your installment loan, please visit our Get Started page.
APR – Interest Rates and Repayment Explained
The annual percentage rate (APR) is the annualized interest rate that you are charged on your installment loan. CashloanToday is not a lending operation and doesn't provide loans, but it does refer consumers to reputable professional lenders who can provide quick and convenient loan assistance. We don't charge fees for this service. CashloanToday does not have the ability tell you what the exact APR that your lender will charge is going to be. Annual percentage rates can vary based on not only the information that you supply in your initial loan request, but the information that your lender supplies to you as well.
Your lender will give you all details on the annual percentage rate, cash loan finance charges and other terms once you are redirected to the loan agreement during the process of requesting an installment loan. If you should require help with any CashloanToday–related services, you can contact us at your convenience.
The APR associated with installment loans can generally range from 6% to 36% percent depending on how it is calculated as well as other variables including any incurred fees (nonpayment, late payment charges, etc.), the term of the loan, and loan renewal options.
Important Points to Consider
CashloanToday is partnered with professional lenders who provide potential borrowers with sufficiently detailed information concerning loan terms and conditions prior to their accepting any installment loan offer. We recommend that you closely view the terms of any loan offer you get. To get more details on these considerations you can view the Lending Policy and Rates & Fees sections of our website.
If you get approved for an installment loan, the lender will show you the exact fees and interest rate associated with the loan before you formally agree to their offer. As mentioned earlier, CashloanToday is not a lending operation, so it therefore is unable to tell you what the exact fees and interest attached to your loan offer will be. Please know that you are never under obligation to accept the loan terms that a lender gives you.
"If you receive a $5,000 36-month loan at an interest rate of 6.03% with a 1.11% origination fee of $55.50, you will receive a loan amount of $4,944.50 and will make 36 monthly payments of approximately $152.18 at a 6.78% APR."
"In the case of a $15,000 60-month loan at an interest rate of 7.90% with a 3.00% origination fee of $450.00, you will receive a loan amount of $14,550.00 and will make 60 monthly payments of approximately $303.43 at a 9.20% APR."
Accepting the terms and conditions for a loan offer essentially means that you agree to repay the loan with interest in the time specified in your loan agreement. If you aren't able to repay your loan in full or should you make a late payment, it is likely that supplemental charges could apply. CashloanToday does not have the ability to predict what charges you will incur in the event of nonpayment, late payment or partial payment. In addition, we have no control or knowledge of the loan details between you and your lender.
Make it a point to closely look at the partial payment, late payment and nonpayment policies that are detailed in your loan documents. The policy of CashloanToday is to partner only with reputable, trustworthy lenders who pursue collections of past-due loan accounts always in a fair and reasonable manner.
It is important for a borrower to understand that being late on a payment, missing a payment or rolling over a payment will all negatively impact their credit score. Your credit score is a numerical expression of your credit worthiness based on an analysis of your credit files. A credit score is primarily based on credit report information typically sourced from credit bureaus. Failing to pay on time will negatively affect this score and make it harder for you to do things like take out a credit card or get a loan. While less than perfect credit will not necessarily prevent you from being able to receive a loan, all loans are subject to credit approval. CashloanToday may do a "soft pull" of your credit information, which will not impact your credit score. Further, the lender that you are connected with may run a credit check with one or more credit agency. If you have had many credit checks in a given period of time, it is possible that this check may negatively affect your credit score.
As previously stated, CashloanToday is not a lending operation, and we do not get involved in the process of debt collection. As part of the loan documents your lender will provide to you, you will find detailed information concerning their specific debt collection practices. If you are unsure in any way of what those collection practices entail, we suggest that you explore that issue with the lender. At CashloanToday we are proud of our policy of working with lenders who pursue delinquent accounts in a manner that is fair and reasonable.
Prior to accepting a particular installment loan offer, you will be presented with various loan renewal options by your lender. Carefully look through the lender's loan renewal policy before you electronically sign loan documents of any type. Be aware of the fact that state regulations determine lenders' loan renewal policies to a significant extent.
Loans should not be used as a long-term financial solution. At CashloanToday, we always encourage borrowers to repay their loan fully and by the time it is due so they can avoid fees such as late penalties and nonpayment penalties. If you think that you may experience difficulty paying back a loan after borrowing it, CashloanToday advises you to closely examine different loan alternatives before you take the step of requesting loan assistance through us.