When you need money in Midland, there are few options if you have bad credit. This leads many people to take out costly payday loans. We have a better option for you, an installment loan. Even with poor credit, you may be able to get an offer for an install loan that can help you out a lot more. It takes just a minute to get an answer. Start now!

A woman in Midland on the computer getting a loan.

Why Install Loans Are Better

There are a lot of reasons why an installment loan is better than the payday variety. Take a minute to see the key benefits and then get your quote started.

Longer Loan Term

As the name implies, an installment loan is broken down into multiple installments. The number of installments will depend on the amount that you borrow and the lender that makes you a loan offer, but the payments will typically be much lower than that of a payday loan.

Lower payments are easier to fit into a budget. This means that you will have more financial room to gt caught up. With payday loans, you have to pay the entire loan back in 10 to 14 days. That can be tough, especially if you are having financial problems in Midland.

So, what happens if you take out a payday loan and you can not pay it back when it is due? You have to roll the loan over and that does not come cheap. You have to pay an entire new set of loan fees. If you continually do this, you could pay more than double what you borrowed, just in fees.

Installment loans make it easier for you to make your payments.

Higher Loan Amounts

If you need a few hundred dollars, a payday loan might be sufficient to get you through your financial issue. Any more than that becomes tricky. There are state regulations limiting the amount and you should only take out as much as you can reasonably pay back in under two weeks.

With an installment loan in Midland, you can borrow more money to handle your money issues. This is because they are not as tightly controlled by the state and breaking up the payments makes larger loans more affordable.

Installment loans can be taken out for amounts in excess of $10,000 if needed. Of course, it should go without saying, only borrow what you need and can afford to pay back. Even if you qualify for more, take out just what you need.

Lower Annual Percentage Rates

The APR is the effective interest rate of a loan. It takes into account all of the fees and costs of a loan to give you a better way of comparing different loan offers. Payday loans, because of the short loan terms have very high APR’s. They can be in excess of 500%.

On average, installment loans will have much lower APR’s than a payday loan. Keep in mind though that you will be paying the interest over a longer period. A lower interest over a longer time could still result in a higher cost of the loan.

Why Online Loan Quotes

Simple, you do everything else online, why not get your emergency loan in Midland online as well. It takes just minutes to get your offer.

Lone Star Cash Services

So now, how does Lone Star Cash Services help? First and foremost, you need to know that we are not a direct lender and do not make credit decisions. Instead, we do something better for you. We give you access to a large network of online lenders and we do not charge you for this access.

A lending network may make it easier for you to get a loan offer, even if you have bad credit. Quite simply put, more lenders equals more chances at getting a loan offer.

If you go with a direct lender, you have to have the requirements that they are looking for. If you do not meet these requirements, you simply get denied. This can be frustrating and time consuming when you need money fast.

Getting Your Midland Area Loan Quote

The process of getting your quote could not be any easier. Here is what you need to do.

  • Fill In Your Quote Form
    Located at the top of the page, the form takes about two minutes to fill in.
  • Submit Your Form
    When you are done, agree to the TOS and hit submit.
  • Review Your Offer
    If approved, you will typically receive an offer in just a few minutes.
  • Accept Your Offer
    If you like the offer, you can accept it online at the lenders website.
  • Get Your Money
    Funds may be deposited as early as the next business day.

That is it, it could not be simpler to get a loan. Be sure to use caution when taking out any loan. Read all of the details and make sure you understand the true cost of the loan. Clear up any questions with your lenders before you commit.

Fast loan article in Midland.
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Summary

If you need a loan in Midland for a financial problem, read this first. Find a good alternative to a payday loan and learn about the loan process before you commit.