California online installment loans -Try our online installment loans today
You do not find yourself there? There are indeed many different consumer credits. But any lender is obliged to inform you about the most suitable loan for your specific situation.
Try our online installment loans today
How to apply for an online installment loan is explained here.
We are going to mention the credits entering into the sphere of installment loans:
- the installment loan: a specialized lender such as a bank lends you a sum for a specified period. You repay at fixed dates a portion of the loaned amount, with interest. The credit agreement does not always stipulate what the money is for. In practice, many lenders give a business name to their installment loans such as “auto loan”, “garden loan”, “holiday loan”, etc. But the principle is always the same: they are installment loans;
- the installment sale: your merchant offers himself the possibility of paying your purchase in several times. It is also a loan that you must repay on regular dates, usually with interest. Check that it is approved by the FSMA and compare the fees and conditions of the loan that your merchant offers with loans offered by other lenders. A merchant who lends you money is obliged to follow the same rules as a specialized lender;
Some auto sellers offer the opportunity to agree on mixed financing for a new car. In this case, you rent in a first phase the car for a monthly amount. Your sales contract stipulates that after a certain period of time, you can:
- either return the car to the garage;
- buy the car for a fixed price at the conclusion of the contract;
In this case, we speak of leasing (or leasing).
Take the time to calculate whether blended financing is better than an installment sale. And ask yourself whether, at the end of the agreed period, you will be able to pay the price.
- interest-free credit: some traders sell installments without charging fees or interest. The sum of the monthly repayments then corresponds to the price of your purchase. This is an advantageous offer, but make sure you can repay the monthly payments. Otherwise, you will have to pay late interest and fines. However, always be attentive and make sure that such a loan does not contain “hidden” costs or is subject to specific conditions.
- Compare interest and fees (annual percentage rate) of different financing options before buying. Borrowing costs money!
- Even an interest-free loan involves a great deal of responsibility. If for one reason or the other you can not repay your debts (on time), this will have consequences.