How to Find California Installment Loans Online

How to Find California Installment Loans Online?

So you just got hit with a bill you did not expect, your car decided to break down, maybe your child needs an expensive prescription, or you were out of work due to illness and are now behind on bills. Whatever the case, you have found yourself in need of a loan, but you have no idea how to find one. You may also need some more basic information on personal loans just to make a decision. Good news: you are not the first one. In fact, it is common enough that we decided to write an entire article dedicated to it. It includes some of the most frequently asked questions about California installment loans and the answers. Happy reading!

How Do I Find California Installment Loans Online?

To find California loans online, you simply need to Google. By searching the term “California installment loans online”, you will get a lot of results for online lenders. In fact, you will likely see so many results that you are not sure where to start. That’s okay. We can help you there, too. “How?”, you say. I am so glad you asked.

It would be so much simpler for you to apply for multiple loans at once with legitimate lenders, right? Well, we provide just that platform. Loanry provides a secure site to provide your information and may find you an online california lender that fits your needs. You already work hard- let us take the overwhelm away by doing what we do best.

How Can I Use California Installment Loans?

The lovely thing about California installment loans is that they are so versatile. You can use them for pretty much anything you like. Want a

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vacation? Get a loan. Want to pay off some high-interest debt? Is your wedding coming up? Are you receiving disconnect notices on your utilities? Need to move in a hurry? Is your car broken down? You get the idea- California installment loans can do anything you need them to do.

Word of advice, though: borrow responsibly. What do I mean? Remember that the loan has to be repaid. It is not free money. Even if you decided not to repay a loan, you will pay in other ways- like if they sue you in a court of law, take your property, or report your lack of payment to the credit bureaus. Yes, all of that can happen.

So how do you borrow responsibly? It’s simple- just follow three simple rules: do not borrow more than you need, limit yourself to borrowing when it really is a need, and do not borrow more than you can pay back.

What Are the Benefits of California Installment Loans Online VS In-Person?

Well, first- and possibly most important to some- is that you can apply from home while in your pajamas. No getting dressed nicely with the extra makeup or silky tie that you normally use for impressing people (or is that just me?). Online lenders cannot see you, so you are off the hook. Whew!

Second, you can apply to a large array of lenders in short order whereas you would have to physically go to several places in your area. And all of that paperwork- talk about a hand cramp! When you enter your information to Loanry, the basic information will be shared with multiple lenders saving you a lot of time and pain. This may help you find a lender willing to work with your file.

And third, if you do not get approved, you did not waste any gas, makeup, dry cleaning, and hardly any time. On top of that, you do not have to do the walk of shame out of a lender’s office. I think that in itself is enough reason to apply online.

California Installment Loans vs Title Loans and Payday Loans

If you know anyone that has ever gotten a payday loan or title loan, you may be asking why you should put so much effort into an installment loan anyway. Payday and title loans are much simpler to get. While that is true- most of the time- those two loan types will dig you a much deeper hole than you want to be in. If you are considering a payday loan or title loan, halt! Do not pass go, do not collect $200- or $500, or whatever amount you are trying to get. Before you make that decision, let’s look closely at these. The following three examples are actually from my personal experiences.

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Payday Loans

I once took out a payday loan for $500. As most people are, I was convinced I could pay it back on payday. Then something else hit, so I paid the $80 in interest and borrowed the $500 again. Two weeks later, we had car trouble. I paid the $80 in interest again and used the $500 to fix the car. At this point, I had already paid $160 in interest. That should have been it, but it was not. For months I could not get out of that hole, and it was really about the high-interest rate. In fact, I paid more in interest than I borrowed in the first place. Payday loans are a trap- a vicious merry-go-round that is difficult to get off of once it starts.

Title Loans

Title loans are pretty much the same. I borrowed around $1,300 on a title a couple of years ago. The interest due every month was almost $400- just the interest. By the time I paid the interest, I could not afford to pay on the principle. I paid on that title loan for over a year and the interest I paid was astronomical.

California Personal Installment Loans

On the other hand, I once got approved for a small personal installment loan. I believe it was a total of $500. The interest was calculated for the entire repayment term and added on the amount I was borrowing. They then divided that amount by twelve months. I paid the required $52 a month and had the loan paid off on time. Because the interest was added in, the monthly payment included interest and principle. That meant that every payment I made was knocking down my loan amount, unlike the other two types.

I hope that you will take my experience into consideration and back away from the payday and title loans. Those should be a VERY last resort. In my opinion, they should only be considered an option if you need to pay for life-saving surgery or something equally as important, but maybe that’s just me. The point is that once you get trapped in the cycle, it is very difficult to get out of it. The best thing you can do for yourself is completely to avoid it in the first place.

Can I Get Approved If I Have Bad Credit?

Of course, you can- with some lenders. Some lenders will not approve of you without a certain level of credit score. However, there are those that will. These are lenders that factor in more like what exactly is on your credit, your income, your assets, and maybe even references. They consider a much broader view of your financial state than other lenders do. At Loanry, we are connected to a network of lenders- some who consider all credit types. We use your information to connect you with lenders that may match your needs.

Preparing to Apply

When you get ready to apply, you should gather a few items. In the beginning, you will likely only need your basic personal information and income. However, as the application process proceeds, especially if you are approved, have your ID, a couple of check stubs, a few references, and your credit score ready and available. If the lender needs anything further, they will let you know.

How Do I Choose Between Loan Offers?

If and when you get approved for multiple California installment loans, there are certain things you should pay close attention to. First, shop loan interest rates and repayment period- go for the lowest interest rate and longest repayment term you can find. Some personal installment loans offer as low as 6% interest and three years or more to repay the loan. This all, of course, will depend on the lender and the amount you are borrowing. As far as you can control it, though, remember, the less interest you have to pay and the longer you have to repay it, the better. Take as much pressure off of you as you can.

Second, you may get offered secured or unsecured personal loans online. A secured loan is going to require that you put up some type of collateral. This might be a check, a vehicle, a house, even a TV. If you do not repay the loan, the lender takes possession of that item. Putting up collateral is not always a good thing. Even if you have every intention of repaying the loan, you cannot control the future. Therefore, putting your only vehicle up for collateral could hurt you more than it could help. You should really think through this type of loan before signing the dotted line.

Loanry is one of the best places to look for an online loan. We connect you with reputable lenders and make possible for you to see whether you qualify for their loans.

Does the Loan have to be Secured?

You do not have to choose a secured loan, of course, but do note that you will likely get quicker approval with a secured loan than an unsecured one. An unsecured loan requires not collateral. Your agreement to pay is all they require. You might not get approved for as much with an unsecured loan, though, since the lender is assuming a great deal of risk. This also keeps you from having to worry about your possessions- especially if that possession is the only vehicle mentioned above.

Borrower Beware

This concern gets a section all to itself. It is important, so pay attention. As much as I hate that it is true, there are dishonest people out there that will steal your identity or scam you out of money. This means that you need to be extra careful when sharing your information online. Never share it on an unsecured site. If you do not know how to tell if a site is secure, just look up at the address bar when you are on the page. When you see a little green lock up there, you are good to go. If not, run away. The people who run the website may not steal your identity, but if the site is not secure, an outsider can. Watch your back.

You can also often check the ratings and reviews of different lenders. These will tell you a great deal about a company. Keeping up with legitimate lenders is a lot of work, though. That’s why we have done it for you! You can trust that we here at Loanry value your security and try to help you find a lender that works for your situation.

Now That I Have My Loan, What’s Next?

Once you get approved for a loan, there are a couple of important steps to take. The first is to read your loan documents yet again to make sure that you understand what you just agreed to. You do not want to find out when it is too late that you agreed to something you had no idea about. If you find anything in the documents that you do not understand, speak to your lender to get clarification. Trust me, they want you to know what they expect you to do as much as you do.

A Guide to Personal Loans in California: Loans 411

Next, immediately write your payment due dates down in your calendar and planner. I mean all of them. If you are making payments for 12 months, mark those 12 payments down now. For those like me who sometimes forget to look at their planner, add it into your Google calendar. That nifty little thing will remind you what is coming up due. And yes, I just admitted to needing an electronic item to keep me on track, but I am okay with that. With four homeschooled kids, a full-time job, and regular household duties, I need something to have my back. Do what you need to do to make sure you know when your payment is due.

Now, commit to repaying that loan. Do not be lax about it- be diligent. A tiny little loan can completely destroy your credit if you do not pay it. It is so much easier to mess up your credit than it is to fix it- trust me. So do whatever you need to do to repay it. Add it into your budget immediately. If you need to do without something a few times a month to make the payment, decide what that will be now. You need a concrete plan for repaying your loan.

Final Step

Finally, make a plan to help you stay away from loans in the future. Assess your situation. Why did you have to borrow the loan this time? Was it because of a surprise bill or some type of emergency? Or did you not have the money for your utilities due to the mismanagement of funds? Do you just not make enough to pay all of your bills at the moment? Whatever your reason, try to prevent it from happening again.

No, you cannot predict emergencies, but you can have an emergency fund. You can cut expenses, get a second job, start a side hustle, revamp your budget, and so on. Something likely went wrong for you to need this loan. Figure out what that is and try to find a solution so it is not a problem next time. No one wants to spend their entire life borrowing money, possibly going to the grave in debt. The earlier you can prevent the need, the better. Figure out how to stop the cycle now so that you can move into a financially stable life.

Conclusion

I hope that we have answered your questions with this article and that you now feel confident in whatever decision you make. A few last notes, do not jump headfirst into a loan agreement without understanding it. There will be a lot of information hitting you at once, so you probably will not catch it all at first. However, pay as much attention as possible. Take the loan and the loan agreement seriously, as much as you would your water bill or electric bill. Lastly, to be safe, come through Loanry to find a lender for you in California.

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A Guide to Personal Loans in California: Loans 411

A Guide to Personal Loans in California

If you have found yourself in need of personal loans in California, but do not fully understand them, do not fret. We have you covered. In this article, we will talk about personal loans, how they can be used, how you can find them, and even how to prevent needing them in the future.

What are Personal Loans and Personal Installment Loans?

Personal loans California residents can get are really just plain and simple loans. You borrow money from someone, be it a friend or a financial institution, it is a personal loan. These can go anywhere from a few hundred to tens of thousands of dollars. Generally, though, they average between $500 and $1,500.

A personal installment loan is a type of personal loan. You borrow money from a lender and pay it back in monthly installments. In my humble opinion, personal installment loans are the best type of loan you can get. With many other types of loans, you get short repayment terms and high interest rates. Personal installment loans offer some of the longest repayment periods- months or years- and much lower interest rates- as low as 6%. In short, they are much less stressful to me because you do not have to rush to pay them off. If you need a loan, I would suggest looking for a personal installment loan before applying for others.

Before applying for personal loans in California one needs to know the pros and cons:

Pros:

-You can use them to pay for things you need now that you cannot otherwise pay, like medical expenses or moving expenses.

-If you make timely payments, you can improve your credit score.

-Timely payments can also make you eligible for larger loans when you are making a larger purchase, i.e. a vehicle.

Cons:

-This may seem like common knowledge, but I have actually known quite a few people that did not understand interest means paying back more than you borrow. If you were unaware of that, you know now.

-Missing payments can completely destroy your credit. It can also mean court dates, being sued, losing property, or more. If you borrow money, you need to repay it on time to prevent any additional issues.

If you are aware of this pros and cons, you can easily weigh your options and see if a personal loan is for you. But you also need to make sure that if you decide to get a loan, you do so with a reputable lender. As always, Loanry is here to help.

The Different Types of Personal Installments Loans

There are two basic types of personal loans: secured and unsecured. Let’s break them down:

Secured:

A secured personal loan is one that requires some type of collateral. That may be a piece of property, like a car, a home, or even investments.Basically, you temporarily give your lender ownership rights to that collateral until you have fulfilled your agreement. This collateral benefits the lender because if you do not pay your loan, they can take possession of your property. They can then sell it to get their money back.

It is also beneficial to the borrower because putting collateral up can help you get approved and possibly even get approved for more. The downside is that until you pay off the loan, you can do nothing with that property. For example, if you used a vehicle for collateral but would like to sell it, you will have to wait until you repay your loan and own it again. It is also important to note that if you do not repay your loan, the lender has every legal right to your collateral. So unless you don’t mind losing it, be sure to pay your loan as agreed.

Unsecured:

An unsecured loan is one that does not require any collateral. The lender basically loans you the money just on your promise to repay the loan. As the lender is taking a greater risk, these are harder to get approved for and you might not get approved for a large amount. The higher the risk, the tougher the application and approval process will be.

If you are thinking that you will not lose anything if you do not pay back an unsecured loan, think again. Though you are not putting up any collateral with these, the lender can still pursue legal action. The result of that could mean you losing even more- and paying more than your original loan. And it can affect your credit. The bottom line is that you should be sure to pay back an unsecured loan, as well.

What Can I Use a Personal Loan for?

You can use personal loans for many reasons. Vacations, bills, debt consolidation, moving, vehicles, real estate, medical bills, even shopping sprees can be covered by personal loans. Having said that, here is a word of warning: being irresponsible with a personal loan is going to get you into trouble.

Let’s take that shopping spree, for example. Taking out personal loans in California just because Hollister is having a huge sale, or because you see an expensive pair of shoes you want is probably not a good idea. On the other hand, let’s say you are starting a new job that requires a professional wardrobe. You check your closet and find nothing but skinny jeans, the outfit that you keep for funerals, hoodies, and tank tops. Obviously, this is not going to cut it at your new job. If you need clothes in a situation like this and will not have any money until you get your first check, it is probably okay to get a personal loan. Well, as long as you have already been hired.

Do you see the difference? Shopping sprees for the fun of it are not a bad thing, but that is kind of an irresponsible thing to get into debt over. Instead, save up for a while, sell your old clothes, and then treat yourself to a guilt-free shopping spree. However, if the shopping spree is an investment into your future, it is not so irresponsible. The key is to simply think through the reason for the loan first and determine if it is really necessary.

How Can I Qualify for a Personal Installment Loan?

Qualifying for personal loans in California is the same as anywhere else. Lenders will usually check your credit score and/or report. Some will go no further if your credit is not good. However, there are some that give bad credit a chance, depending on other things like income and references. What the lender requires often varies from lender to lender, but you can generally expect the aforementioned items.

Where Can I Find a Personal Installment Loan?

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Ready to find personal loans in California? It is easier than you think. If you prefer in-person applications, you can apply through your local banks, credit unions, and other financial institutions. For a list of personal loans in your area, simply Google “personal loans California”.

A much simpler way, however, is to apply for secured and unsecured personal loans online. Loanry is available to help you find a lender who offers personal loans in California to residents. If you are presented with a loan offer, be sure that you shop loan rates between them before you choose.

Wise Steps to Take After Getting Personal Loans in California:

  • Read your loan agreement. Now, read it again. You need to know exactly what you signed up for. You should have already read it before signing it, but read it again anyway.
  • If you have any questions, ask them, even if you have already signed.
  • Mark your payment dates in your calendar or planner. Do not miss a payment because you do not know the date.
  • If, for any reason, you will be late making your payment, call your lender immediately. They may be able to help you and keep it off of your credit. Even if they cannot, trust me when I say it is much less frustrating for you to call them than it is to have them calling your phone until you finally decide to answer.
  • This last step is simple: repay the loan.

What Can I Do to Prevent Needing a Personal Installment Loan?

There are times in our lives that a loan simply cannot be avoided, and that’s okay. Needing help is not a weakness- it is a human characteristic. Regardless if the loan is to start a business or it is to pay your electric bill does not matter. When it is needed, it is needed- bottom line. And sometimes, this need comes out of nowhere or in amounts so large that we cannot handle on our own at that time.

Then, there are times that you can completely avoid the need for a loan, but it requires diligence, will power, and a great amount of responsibility. And it needs to happen consistently, not just when you are already in trouble. In fact, by that time it is too late. Following these steps year round can help you slide some cash away for a rainy day:

The Dreaded “B” Word

That’s right- budget. If you want to get anywhere in life, you need a plan. A budget is a plan for reaching your financial goals and keeping your head way above water. It is about telling your money where to go instead of the other way around. By being clear about what you are bringing in and what is going out, you can easily see if you need to make more or you need to cut down some.

Here is a big point though: you should give every single cent a home before it comes in. The home you give it is up to you, but it all needs a home. What do I mean? You likely already set aside your electric bill money, your grocery money, and so on. (If you don’t, you should really start.) But what do you do if there is anything left? Letting the remainder of your check just fall to random expenses is not going to help your finances, at all.

Let me break down what I mean. Below is an example of how one might budget a $1,000 check:

Bills:

Power Bill-     $200

Car Insurance- $80

Water/Trash-   $70

Fuel-                 $100

Groceries-        $200

Phone-              $100

Clothes-           $100

Movie Night-      $60

Before we move on, understand that all of these numbers are fictitious. Your bills may not look a thing like that, but you can simply plug the numbers into your budget. Also, notice that I added clothes and movie night to the list. Your budget can consist of anything that is important to you. You do not have to leave out the fun- you just need to budget it in.

Now, if you add these numbers up, you will have a total of $910. With a $1,000 check, this means you will have $90. What would you do with it? There are a lot of answers to this question, all preferential. Regardless of the answer, it needs to be added to the budget. If you plan on saving it for vacation, add it to your list. Even if you plan on blowing it on pizza and beer, put it in your budget. Obviously, the smart thing would be to save it, but you are free to do what you wish. Just make a plan for it all.

Make Saving a Lifestyle

Saving does not have to be event-related. It is something you can do every day. Saving really is a mindset. Understand, though, that saving

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does not mean living in as if you are one step from being homeless. It simply means prioritizing where your money goes. If you value date night with your spouse every Friday night, take your lunch to work with you instead of eating fast food. If paying for your child’s karate lessons every month is a top priority, you might cook more every week. You can save while enjoying your life. You just have to decide what you really want to enjoy and what really does not matter.

Stop Waiting Until the Last Minute

One thing I absolutely despise is shopping at the last minute. If I know that I need it, I will do everything in my power to get it early. That prevents me from having to fight crowds and pay inflated prices. Here are some of my tips for shopping early:

-Christmas:

Let’s be honest, Christmas comes every year, on the same exact date. It does not change. It will be here December 25th of this year and every single year. That is common knowledge, so I have to wonder why people act like it surprises them every year. They fit all of their shopping into a matter of weeks- maybe a month or two. Then, they run around like chickens with their heads cut off possibly having panic attacks.

Even worse, with everyone running around like this, there is an intense tension between all shoppers. They get rude and impatient with one another- which, you know, is totally what the season is all about. The solution- start at the beginning of the year. Have you ever walked into your local retailer two days after Christmas and see an item you paid $100 for knocked down to $50 or less? Yes, it can be frustrating, but you can also use it to your advantage. Start shopping ahead with those sales. Check the clearance aisles all year long. Put $20 up every week so you are ready when you find a good sale. It’s not that you will have nothing to buy around Christmas time, but shopping early can help you make your Christmas budget.

-“Back to School” and Halloween:

These holidays are very much the same. You may not know everything your kids will need the next year, but things like notebook paper, pens, pencils, and other common items are on pretty much every list. About a week after the back to school sales, you can find these items at a fraction of the cost. The same is true with backpacks and even Halloween costumes.

Those are just a few tips for you to save on Halloween and Back to School. I could go on about this for hours, but I digress. If you really think things through, you will find many ways to save.

Conclusion

When searching for personal loans in California, do so with as much diligence as you would pick a pediatrician for your baby- not that the loan is as important as your baby. It just needs to be taken seriously. It can be an overwhelming process to find the loan you need. Let Loanry help you find a lender that suits your situation.

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