If you are looking for short term loans or online title loans, you may have heard of a new type of title loan that’s being offered by lenders including Title Loan Fast – fast installment title loans.
But what is an installment title loan? Is it different from a standard title loan, and is it a good idea to get one? In this blog post from Title Loan Fast, we’ll explain everything you need to know.
What Is an Installment Title Loan? How Is It Different from a Standard Car Title Loan?
As the name implies, an installment title loan does not come due all at once. Like a personal loan, you take out a loan for a certain amount of money, and then repay the full amount plus interest and fees in multiple installments. In most cases, you’ll take out an installment title loan for 6, 9, or 12 months.
This is very different from a standard title loan. Most traditional title loans are provided for a maximum of a month, and some come due within 3 weeks. This means that you have very little time to use your loan funds – and to repay your loan.
The Benefits of Installment Title Loans
Now that you know the main difference between installment and traditional title loans, you may be wondering why you should choose fast installment title loans from us. Here are a few benefits of choosing this type of loan.
- Longer repayment period for more flexibility – As mentioned, a traditional title loan must be repaid within a month, but installment title loans have 6-12 months repayment periods. This gives you more time to use the loan money – and to save up the cash you need to repay the loan.
- Lower monthly payments –- Rather than paying a large lump sum all at once, an installment title loan allows you to make lower monthly payments until the loan is paid off. This can make it easier to manage your money and budget properly while you’re paying off your debt.
- You can repay your loan early – If you have the money to do so, you can repay an installment loan at any time and save money on interest and fees. At Title Loan Fast, we do not charge any early payment fees or pre-payment penalties, unlike some other lenders.
Get a Quick Installment Title Loan from Title Loan Fast If You Need Cash!
At Title Loan Fast, it’s easy to qualify for a fast installment title loan. You can apply and get approved in just a few minutes and get access to the cash you need to cover your emergency expenses. Ready to get started? Click here to apply now, or contact us if you have any questions about our installment title loans.