Long Term Loans for Bad Credit From LoanNow – Easier, Faster, and Better
Installment loans represent one of the best strategies for purchasing big ticket items. By taking a loan rather than waiting to pay cash, because you’re able to enjoy the benefits of your purchases while you’re making payments. In particular, many people would find it difficult or impossible to purchase a home without the benefit of installment payments. But would-be borrowers with marginal credit are often unable to qualify for bank installment loans. Alternative sources of long term loans for bad credit often impose unfavorable terms. Fortunately, LoanNow provides the convenience of installment payments for borrowers who would otherwise be stuck with bad loans.
Bank Loans and Bad Credit
Attempting to obtain long term loans for bad credit from banks often results in frustration. Banks require prospective borrowers to have good or excellent credit to qualify for the best rates. Would be borrowers with marginal credit are often required to provide collateral or a credit-worthy co-signer to qualify for a loan at all. Borrowers with poor credit are usually refused outright.
Long Term Car Loans
Unlike many other types of loans, long term loans for bad credit are fairly easily to obtain for purchasing automobiles. That’s because car loans are secured by the car that the loan is used to purchase. Borrowers who fail to repay their loans lose their cars to repossession. Nonetheless, loans with the best terms are only available for borrowers with good to excellent credit — and no outstanding car loans.
Long-Term Payday Loans
Technically speaking, payday loans do not qualify as long term loans for bad credit. Payday loans are typically structured as short term loans with repayment periods averaging 14 days. But payday loans combine a triple threat of high interest rates, a requirement for lump sum repayment and extremely short repayment periods that make it difficult, if not impossible, for many borrowers to repay their loans on their original due dates. Instead, borrowers are caught in a vicious cycle of partial payments and rollovers that can transform a short-term small dollar loan into a substantial debt that requires months – and sometimes years – before being repaid in full.
The LoanNow Advantage
Rather than settling for payday loans that become long term loans for bad credit, check out LoanNow. We look beyond your FICO score to consider your whole financial profile, and our loans are structured with manageable monthly installments, not lump sum repayments. LoanNow provides good people with the cash they need now!