Things to consider when taking out 24 month loans
February 27, 2018
World!!!
24 Month Loans must be handled with caution before anything is agreed with a lender. It goes without saying, that a 24 month loan, is much different from a payday loan. Of course, we’re talking about the sheer increase in the loan period. For those of you who have taken out a payday loan, successfully made the repayment, and are now considering a long-term loan, consider these pointers.
Creating a budget plan for 24 Month loans
Making a repayment for a payday loan is fairly straight forward; you weigh up how much you can pay back on your payday, and when payday arrives, you make the loan repayment. Done and dusted. With a payday loan, there is very little planning involved.
For 24 month loans, however, a budget planner is absolute crucial for you. Instead of one repayment, you have 24. Think back to the previous two years, and think of all the minor emergencies, and how many times you’ve used your card to pay for something you didn’t plan on. All of these little details must be added into the planner, not just your rent and mobile phone contract.
Failure to make your repayments
Failure to make your repayments could lead to further charges and a severe dint in your credit rating. Not only will you have to pay more back, this may ruin your chances for future credit. This is why the budget planner is so crucial when taking our 24 month loans.
How fast can I get my 24 month loan?
Unfortunately, we cannot guarantee a timeframe on your loan. The lenders we work with, work around the clock to ensure your loan is paid as soon as possible and will not take any longer than 24 hours.
Will Loanline charge me for using their services?
No fees will be charges from Loanline. Our services are completely free to use. Loanline will save you time by contacting a variety of different lenders until one accepts. However, you must meet their criteria.
Representative 546.1% APR. Representative example: £200 repaid over 3 monthly instalments of £134.76. Total charge for credit £404.27. Interest £204.27. Interest rate 546.1% (fixed) APR rates range from 45.3% APR to 1575% Max APR. Your APR rate will be based on your circumstances.
How much interest gets charged on 24 month loans?
Interest rates fluctuate depending on the borrower. Your income, outgoings, credit rating, and other factors are considered before an interest rate is produced. What we will say, is to determine whether the loan is affordable for you, and whether the interest rates make sense for your situation.
Representative 546.1% APR. Representative example: £200 repaid over 3 monthly instalments of £134.76. Total charge for credit £404.27. Interest £204.27. Interest rate 546.1% (fixed) APR rates range from 45.3% APR to 1575% Max APR. Your APR rate will be based on your circumstances.
