Getting Your Installment Loan
When you need money fast, an online lender is one of the best ways to go. If approved by one of our lenders, you can have money in your account as soon as the next business day. Here is how it all works.
Get Your Quote
First, you need to enter in some basic information about yourself, your income and how much money you need. You will also need to provide a bank account, because this is where your lender will send you the loan proceeds. Once you have entered in your information, hit submit and wait for your answer.
Review Your Offer
If approved for an installment loan, one lender from the group will make you an offer. You will be redirected to their website where you can review the details. Make sure that you thoroughly inspect the offer before making decision. Look at the interest rate, loan fees and the loan term to make sure it meets your needs. If you need a 24 month loan term, your lender may not automatically approve you for one. In such cases, you may need to contact your lender directly to negotiate your loan terms.
Make A Decision
Once you have all of the terms in front of you and understand them, it is time to make your decision. Should you decline the offer, you can simply walk away. On the other hand, if you like your offer, you can generally complete the loan process online and your lender will get you money ASAP. This can be as early as the next business day.
Get Your Money
Your money will be deposited directly into your bank account. This means that it will be available for use almost immediately. Should your loan be for an emergency, this is a very good thing.
More On 24 Month Loans
A 24 month loan is a personal loan that a borrower takes out for a period of 24 months. It is usually used to finance the purchase of an expensive item such as a car, or boat or something else that can not be paid off easily with a shorter term loan.
Applying For A 24 Month Loan
If you want to apply for a personal loan, it is important to know something about the eligibility requirements and how the loan process works.
The quote process typically takes about five minutes to complete on average and you will be notified about your decision quickly.
Although you are seeking a 24 month loan, you might not initially be offered this loan term. The loan term that you qualify for will depend on your qualifications as a borrower, the amount that you want to borrow and the lender themselves.
If offered a loan that is other than 24 months, you will need to negotiate the proper term with your lender.
Negotiating Terms With Your Lender
When you are presented with a loan offer, you will be redirected to the lender website. There you will be able to find contact information that you can use to contact your lender directly. At LoanMonkey.net, we have no details of you loan offer and simply get you access to a large network of lenders.
If negotiating with your lender does not work, you are free to turn down the loan. Just make certain that any negotiations take place BEFORE you accept an offer.
Finding The Best Personal Loans
Personal loans are a great way to get money when you need it the most. However, it is important to find the best personal loans for your needs. Here are some tips on how to find the best loans and rates on the market.
Do your research and comparison shopping online.
You can start by researching online and comparing prices from different lenders. On this website, you can get a loan offer from one lender, but there may be better offers out there. We encourage you to get other loan offers and them choose the one that best suits your needs.
Consider your credit score.
Even a bad credit lender will check a credit report. If you have a low credit score, you may not be able to get approved by many lenders or your rate will suffer. For best results, it’s important that you check your credit before applying for any loan in order to avoid this issue.
By checking your credit, you give yourself the opportunity to look for areas that you can improve or for mistakes. It takes at least 60 days for these types of changes to take effect, so do so early.
Be specific on your needs.
It is nice to have more money than you need, but this comes with consequences. The more money you ask for, especially with bad credit, the harder it will be to qualify for your loan.
Before applying, try to hammer out all of the details of what you need. Obviously, you need a 24 month term, but how much cash will you need. If you can get by with 6000 dollars, for example, it might not be advisable to ask for 10,000.