Best Installment Loan Lenders in Florida
Installment loans are sums of money borrowed that you pay back over time in equal installments. An installment loan may be less dangerous and more inexpensive than a payday loan if you have bad credit.
Installment loans might assist you in getting through an emergency, paying off a major expense, or consolidating high-interest debt. Learn how to select the best installment loan for your needs by comparing lenders.
COMPACOM
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With an installment loan, you can borrow a predetermined amount all at once to pay for significant items. Rent, mortgage payments, and home repairs can all be paid for with Compacom Installment Loans. Over the course of the specified period, you pay back the loan in regular monthly installments. Over the course of the payback period, the APR and interest rate are not subject to change. The loan amount that best suits your needs is yours to determine. You can better organize your budget and prevent missed or late payments if you have fixed monthly installments.
Min. Loan amount: $1.000
Max. Loan amount: $5.000
Term: Up to 36 months
Min. APR: 6.63%
Collateral: None, unsecured
Approval: Instant same day
Funding: Within 1 – 2 business days
Instant Loans USA
Installment loans might provide a rapid same-day solution to your issue if your salary is insufficient to cover all of your debts, you have poor credit, or you simply need money badly.
Installment loans in Florida from Instant Loans USA give people with any credit history the chance to get money quickly for any need. A loan calculator online can be used to estimate the cost. The lender also typically provides a representative example that includes the anticipated charges for the chosen amount and repayment period.
The application procedure is straightforward and takes a little time. There are no further documents required. The application and a valid ID card are the two most crucial components. An installment loan without income certificates is a service provided by lenders who simply require a statement to confirm borrowers’ income.
Payday Loan amount: $1000 – $5000
Repayment Term: up to 48 months
APR: 36-40%
Min. credit score: Not required
Approval: Same day
Funding: Within 24 hours since approval
Credit check: No hard credit inquiries
Maggie Loans offers a medium-term loan with monthly payments that is called an installment loan. By providing this borrowing option, this trusted lender gives you a chance to borrow a sizable sum of money and refinance it over a period of several months of fixed payments. While credit cards’ interest rates fluctuate over time, installment loans have a set interest rate that remains the same throughout the payback period. Additionally, installment loans have a predetermined payback schedule and do not last endlessly.
There are various ways to finance mortgage, home improvements and even rent, but if you know how much money you’ll need and are eligible for a low interest rate, an installment loan can be a suitable choice.
Amount: up to $3000
Terms: 6-12 months
APR: 400%
Min. credit score requirement: 580
Approval: Instant approval online
Turnaround time: Same-day financing
Collateral: Not required
Pitri Loans Installment Loans in Florida is the best provider of every type of installment loans in the state. Mortgages and auto loans are examples of common installment loans. These loans are all subject to set interest rates. Before you sign the loan agreement with Pitri Loans, you’ll already be aware of the set interest rate. It stays the same, nevertheless, throughout the loan repayment time. However, a mortgage loan can change its interest rate while the loan is being repaid.
This way, you won’t be late on installment loan payments. After all, you know in advance the amount of payment that you will pay.
Max. Loan amount: $5000
Min. Loan term: 2 months
Max. Loan Term: 24 months
APR: 400% on average
Available for bad credit: Yes
Approval time: Instant approval
Funding: Same business day
Florida Installment Loans
Florida law restricts the amount of money that installment lenders can lend, but little is done to safeguard clients from excessive interest rates. Installment loans are thus still permitted in Florida.
Installment lenders in Florida have the right to demand a fee on top of finance costs. It may not seem like much, which is how they trick you, but this results in an APR of 391% over the course of the loan’s repayment period.
Who Qualifies for Florida Installment Loans?
Your income and expenditures will be requested by the lender. There may be a part on the application for installment loans in Florida without certification asking how many dependents or other financial responsibilities you have. This gives lenders the chance to determine whether a borrower is creditworthy for installment loans.
Except for additional categories pertaining to your money, the requirements for receiving a favorable credit decision are largely the same as the usual ones. So, lenders will require:
- a minimum age of 18;
- telephone and email;
- a US-issued photo ID;
- three months’ worth of income documentation;
- the bank account number required to receive a transfer for the specified sum.
Alternative Options to Get Instant Financing in Florida
Installment Loans are not the only way to get emergency funding in Florida. Your options are numerous, and the choice depends only on your needs, your budget, and individual preferences. The most popular ways to get money fast are:
- Personal Loans (up to $35,000 within 1 – 2 business days for the term of 1 – 7 years)
- Payday Loans (up to $1,000 same day with no credit check for a short term of 14 – 30 days)
- Car Title Loans (secured type of credit with your vehicle title as collateral; allows you to get up to $10,000 with no credit check on the same business day)