Installment Loans in Pevely, Missouri

What Are Installment Loans in Pevely, Missouri?

Installment loans in Pevely, Missouri are a popular type of personal loan in which the borrower receives a lump sum of money upfront and then repays the loan in fixed payments, known as installments, over a set period of time. Compared to other forms of credit, such as payday loans, installment loans in Missouri are more flexible and affordable.

How Do Installment Loans Work in Missouri?

Installment loans work by offering borrowers a predetermined amount of money, which is then repaid over a set term in fixed installments. Loans in Missouri are typically repaid monthly.

One key benefit of installment loans in Pevely, Missouri is that you can usually borrow much more money than with a payday loan. For instance, TheGuaranteedLoans offers installment loans with amounts ranging from $1,000 to $5,000, whereas payday loans are often capped at just a few hundred dollars. Furthermore, installment loans often come with longer repayment terms than payday loans, allowing borrowers more time to pay back the loan.

Who Can Qualify for an Installment Loan?

To qualify for an installment loan in Pevely, Missouri, you typically must be at least 18 years old, have a steady source of income, and a valid checking account.

However, with TheGuaranteedLoans, your credit history is not the main factor considered when determining your eligibility for a loan. We work with a network of lenders who specialize in installment loans for people with poor credit, so even if you have bad credit, you still may be able to get approved for a loan.

Interest Rates and Fees

It is important to note that installment loans in Pevely, Missouri can come with high interest rates and fees. Regulations governing interest rates and fees vary from state to state and can change over time.

If you are considering getting an installment loan, make sure you carefully read through all the terms and conditions before agreeing to the loan. At TheGuaranteedLoans, we strive to be transparent about our fees and interest rates, so you know exactly what you are getting into before signing on the dotted line.

Apply Now

Interested in getting an installment loan in Pevely, Missouri? TheGuaranteedLoans can help connect you with potential lenders who specialize in installment loans.

Our online application process is quick and easy. Simply fill out our online form, and we’ll match you with a lender who can meet your financial needs. Apply now to see if you qualify for an installment loan in Pevely, Missouri.

Interesting Facts and Statistics About Installment Loans in Pevely, Missouri

• According to the Missouri Division of Finance, the average APR charged by lenders on installment loans in Missouri is 463%.
• Missouri is one of 32 states that allows payday lending and other short-term, high-interest loans, according to the Pew Charitable Trusts.
• The average length of an installment loan in Missouri is six months.
• Missouri has more than 1,100 payday lending stores, making it one of the most concentrated states in the country for short-term, high-interest loans.