- Overview of the best installment loans
- Best installment loans
- Marcus by Goldman Sachs
- Summary of the best installment loans
- Why you should use installment loans
- Why you shouldn’t use installment loans
- The bottom line
Overview of the best installment loans
|Avant||Secured installment loans|
|Payoff||Credit card debt consolidation|
|Marcus by Goldman Sachs||No fees|
|Rocket Loans||Good to excellent credit|
Best installment loans
- Several years of credit history with a variety of account types.
- An ability to save, evidenced by liquid assets, cash down payments on real estate, retirement savings, and manageable revolving credit.
- Income to repay current debts and any new loan with LightStream.
- Good payment history with few, if any, delinquencies or problems paying debts.
Marcus by Goldman Sachs
- Fair (630-659): 23.78%
- Good (660-699): 17.16%
- Very Good (700-739): 12.95%
- Excellent (740-850): 10.10%
Summary of the best installment loans
|Lender||APR range||Loan amount||Loan term||Origination fee|
|Avant||9.95% - 35.99%||$2,000-$35,000||2-5 years||4.75% admin|
|Lending Club||10.68% - 35.89%||$1,000-$40,000||3 or 5 years||2% - 6% of loan|
|LightStream||2.49% - 19.99%||$5,000-$100,000l||2-12 years||0|
|Payoff||5.99% - 24.99%||$5,000-$40,000||2-5 years||0% - 5%|
|SoFi||5.99% - 20.25%||$5,000-$100,000||2-7 years||0|
|Marcus||6.99% - 19.99%||$3,500-$40,000||3-6 years||0|
|Prosper||7.95% - 35.99%||$2,000-$40,000||3-5 years||2.41% - 5%|
|Discover||6.99% - 24.99%||$2,500-$35,000||3-7 years||0|
|Rocket Loans||7.161%-29.99%||$2,000-$45,000||3-5 years||1% - 6%|
|Upstart||8.41% - 35.99%||$1,000-$50,000||3-5 years||0% - 8%|
Why you should use installment loans
Why you shouldn’t use installment loans
The bottom line
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