Installment Loans

By Pacific-Odyssey.co.uk

Installment Loans

What is an installment loan?

It is a loan of two or more planned and equal repayments.

It can be a 3 month loan, 6 month loan or even a 25 or 30 year mortgage!

Installment Loans

The nice thing about installment loans is that they have pre-agreed terms:

Agreed number of repayments

Agreed amount to repaid on each installment

The installment amounts tend to be the same each month, making budgeting easy

Installment Loans

The cost of an installment loan varies tremendously from as much as 1,200% APR down to 3% APR.

The cost tends to be driven by the risk being taken by the lender (will the customer pay back) and the length of the loan.

Payday Loans

My Advice?

Take out an installment loan from a company such as Pacific Odyssey (www.pacific-odyssey.co.uk)