Not all loans for people with bad credit are created equal. If you have only ever stumbled upon the worst examples available then you’d be forgiven for associating subprime loans with bad deals and generally unfavorable repayment terms. In fact, the vast majority of lenders who promise to accommodate people who have a black mark on their credit record are counting on your lack of knowledge about the industry, and they are quite happy to let you believe that you’re only eligible for high interest rates due to your history. They also rely on the fact their target market is time-poor and cannot afford to spend the necessary time to search for, and compare loan terms that they may qualify for, in order to get a fair deal. They lure customers in with a flashy, fast, expensive solution to their financial problem.
The biggest hurdles that prevent poor credit customers from finding fair loans are time, and a lack of knowledge. There are many thousands of lenders who offer loans for bad credit and even seasoned borrowers are unsure where to find the cheapest and most reasonable loans that they can qualify for.
A review site such as this one is a good way to find a low-cost loan that caters to your needs as a poor credit borrower-rather than searching the internet by yourself you can choose from featured lenders and save time. At-a-glance reviews highlight the pros and cons of each lender and help you identify who is most likely to accommodate your loan request.
If you are looking for long term installment loans for poor credit then lenders such as 3Yearloan (who we rate very highly) are a great place to start. Read our review and you’ll see the difference immediately between 3YearLoan and most of the other long term lenders who take on bad credit clients. You’re guaranteed the lowest interest rates available plus instant approval and there are many more great reasons this company can help you. Choose 3YearLoan as your lender and you’ll enjoy access to loans designed for people with bad credit, that behave like “good credit” loans.
As always with installment loans you can end up paying a lot in interest, especially with a large loan taken out over several years, but even just a few points on the APR can reduce your costs by thousands of dollars. It makes sense to choose a lender who doesn’t hide behind cheap promises and flashy overly-simplistic marketing. You can easily see the interest rate you qualify for with 3YearLoan and also with another of our great long term providers, Liberty Installment Loans. Liberty offer bad credit borrowers unprecedented choice, and freedom in their borrowing. Netcredit can also help those looking for a large loan, and they approve many people who have met with refusal elsewhere. You may be looking for short term, or “emergency” bad credit loans but understandably not want to borrow from the notorious payday lenders who have astronomically huge APRs that run upwards of 1500% per annum. Again, you’d be forgiven for believing that this is your only option for a small loan of less than $2000 that you would pay back in a short time, in one lump sum repayment that included capital plus interest.
Lenders such as OneClickLoan, 100 Day Loans, FirstChoice Capital and CashMojo are quick to disprove that misconception and together offer more than enough choice and cash freedom for all comers, whatever cash emergency they face. You can get cash as soon as today with these fine lenders- and everyone qualifies instantly.
With attractive loan terms for every customer you will find something that works for you, and without penalty to your credt score. Veterans, single parents, seasonal workers, unemployed people, immigrants and disabled people are no longer forced to accept grossly unfair emergency cash “solutions” that drive them further in debt- thanks to our featured short term lenders the traditional payday loan image is dead. You can now enjoy a cash safety net that will quickly cover an emergency without draining your budget for months and years to come.
As we’ve shown you, a bad credit loan doesn’t have to be bad news. By choosing one of our top-performing lenders you are choosing a low-cost, fair term loan that caters to you-whatever your credit score, You still have to freedom you would enjoy by searching independently, but rather than choosing from a pool of many thousands of lenders you are choosing from the select few top tier lenders. This saves you time and ensures you access the best fit, cheapest loan available to you. Don’t take our word for it! Each and every one of the lenders featured here offer you the chance to search and see what you qualify to borrow with them and at what rate of interest, and with varying terms that you can play around with to see what you can expect to repay each month- all without your inquiry with them showing up on your credit record! There’s no obligation to go ahead with any of their offers, but it will give you a great idea of how they can help you- even if you are not looking for a loan right now. It’s always good to stay informed and aware of your options.
Unless you are extremely experienced and confident in how subprime lending works, your best option for securing a fair-play loan is to choose from a smaller pool of good quality lenders. The idea that you can compare everything available online is an idealistic one at best-it’s safer and smarter to choose a guaranteed better loan from among fewer lenders. It’s a sad fact that those most in need of a hand up are often most at risk of falling prey to unscrupulous people who seek to take advantage of their desperation. Less choice is more choice, and more freedom In the case of loans for people that have no credit or bad credit.