How Can I Get a Secure Installment Loan?

March 6, 2019

An installment loan is a kind of loan that you pay back in even monthly installments, rather than paying the whole thing back at once in one lump sum.

What makes an installment loan secure is the collateral used to obtain it. In order to protect the lender from losing money, a valuable asset is used to obtain quick, convenient funds. Learn more about secure installment loans with this informational MaxCash article.

Examples of Secure Installment Loans

Mortgages

A mortgage is a kind of loan that is taken out in order to make purchasing a house a lot more feasible. Mortgage loans are an example of a secured installment loan because you put up the house that you are buying as collateral for the large amount of money that you would be borrowing. As long as you keep making all of the payments in a timely manner, you will not need to worry about anything.

Auto Loans

Like mortgages, auto loans exist to make a common, but expensive purchase more accessible to people. Auto loans are a kind of loan that is secured by what you are using it to buy, which is a vehicle.

Title Loans

A title loan is a kind of secure installment loan that involves your car as part of the collateral. However, unlike an auto loan where the collateral is the vehicle itself, title loans use the actual vehicle title as collateral. A borrower’s vehicle title is kept secure by the lender until the loan has been fully repaid. Your lender will sign on as a lienholder to give them partial ownership of the car while you pay back your loan. A lot of title loan lenders let the borrower keep their car while making payments.

Boat Loans

Boat loans are essentially auto loans, but for when you want to buy a boat. Your lender provides you with the money you need, which is then secured by the boat that you are using the money to buy.

Home Equity Line of Credit

A home equity line of credit is a type of loan that shares similarities with a mortgage loan in that your house is the collateral. Unlike a mortgage though, a home equity line of credit uses the equity that you have in your home as the basis for how much you qualify to borrow. These can be used for a variety of expenses rather than just buying a house, seeing as you already have one. Home equity loans are great for covering expensive home repairs.

Recreational Vehicle Loan

A recreational vehicle loan is another kind of vehicle related loan. Instead of it being a car or a boat however, this covers RV’s and campers. The recreational vehicle you are buying will be the collateral that makes the loan secure.

Benefits of a Secure Installment Loan

Although you may not care for the idea of risking a valuable asset through a loan, there are many benefits that come along with taking out a secure installment loan.

Such benefits include (but are not limited to):

  • Lower Interest Rates – You could end up paying less money per month and over the course of the life of the loan with lower interest rates.
  • Longer Repayment Terms – Because the lender knows that they are secure in the loan, they will often be willing to give you more time to pay back what you owe.
  • Higher Borrowing Limits – Secure loans often let you borrow a larger amount of money, which is why they are so popular for major purchases.

How Could I Get a Secure Installment Loan?

One of the most common ways of going about getting an installment loan is by going directly to your bank. Banks are known for offering installment loans and are often willing to offer better deals—especially if you already have an account with them. Alternatively, if you do not wish to go through a bank to obtain the money you need, you could go to your local credit union as well.

You could also approach a private lender or lending company. These companies are often willing to be a bit more flexible and understanding, especially if you do not have a spotless credit report or high credit score.

That being said, try to make sure that your credit looks as good as it can before you try to get a secure installment loan. This will not only help you secure a loan more easily, but also help you obtain a better interest rate.

Get a Secure Installment Loan with MaxCash!

If you are interested in taking out a secure installment loan, but do not know where to go or what specific kind of loan to get, then come to MaxCash! We assist several people across the nation every day to acquire the installment loan they need. We may be able to do the same thing for you!

To get the ball rolling toward receiving your secure installment loan today, you can:

  • Call us at (833) 207-9052 any day of the week
  • Email us at Info@MaxCash.com
  • Come to our physical office at 1270 E. Broadway Rd, Suite 208, Tempe, AZ 85282

DISCLAIMER:
The MaxCash website does not offer or provide loans, but rather, it offers a service. It should not be construed as a lending agent or broker. The site does not endorse any lenders and does not charge visitors any fees. The website owners do not evaluate potential lenders’ applications, nor do they approve or deny credit. The MaxCash website does gather applicants’ personal information and transmits it to lenders that are part of the site’s lending network. No one is required to make use of this website, nor are they under any obligation to begin contact with site operators or to attempt to secure a loan with any of the site’s lending partners. Transmission of your financial and personal information on the website in no way obligates lenders to offer you a loan or any other kind of credit product. Be aware that cash transfer times can vary, depending on the lender and the bank you use. It may be necessary to fax information under certain circumstances. All questions about loans, and any concerns you may have should be directed to your lender. These loans are intended as short-term financial solution to satisfy borrowers’ needs for immediate monetary relief. This is not intended to be part of a long-term financial plan for individuals. These services are not offered in all states. Potential borrows may undergo credit check if lenders choose to use any of the major credit reporting bureaus, including Equifax, Trans Union and Experian. They may also use other alternative sources to check credit ratings. Your request for a loan constitutes your agreement and acknowledgement that (A) your personal data may be shared with lenders and perhaps other third-party partners, and (B) lenders can acquire credit bureau reports that detail your credit history. Reports from major credit bureaus, such as Equifax, Experian and TransUnion may be obtained and used to evaluate your reliability as a borrower.

1Loan amounts by the lenders vary based on qualifications.

2Since we do not lend money directly we cannot offer you a solicitation for a loan. In all serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans are not available in all states and all areas.

3Loans such as, Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan. Other types of loans may have pre-payment penalties as well.

4All lenders are responsible for their own interest rates and payment terms. Max Cash has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

5The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you. Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time, in the circumstance for an auto title loan. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically, larger loans or higher risk loans use a GPS.

In some circumstances faxing may be required. Use of your cell phone to receive updates is optional. Please review our privacy policy.

Loans such as Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long-term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

Signature and personal loans are only available in Georgia and Florida. Loan amounts differ at locations. Account approval requires satisfaction of all loan eligibility requirements, including a credit inquiry, and, if applicable, motor vehicle appraisal.

Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

© 2020 Tradition Media Group, LLC MaxCash. All Rights Reserved.