The importance of installment loans cannot be exaggerated more for someone who is just thinking of starting a small business or someone who is planning to get married. Installment loans or term loans provide you with peace of mind because you know that since it is a personal loan, you won’t have to offer something very important to you as collateral to secure the loan. Sometimes, such loans may need you to offer your home, your car or your business as collateral and if unfortunately you end up accumulating a considerably large debt, your lender will be within their right to take ownership of your collateral and then dispose it to pay for your loan.
Installment loans with a considerably long tenor are much safer. Although, you may have to pay a little more in the form of interest, it is completely justified and won’t affect you much if you continue to pay the bills on time. This is because you are getting a considerably long tenure to settle your loan in full. The more you pay per installment, the lesser your interest payment will be.
Some more advantages of installment loans
- An installment loan is predictable and allows you to properly manage your finances as well as set a budget as you know the exact amount you have to pay per installment and also the time within which the loan has to be settled in full and final. That gives you a lot of elbow room to make adjustments.
- Installment loans put less financial stress on you as the whole payment gets equally distributed over a long period of time. For most average working Canadians, it is a better proposition than making a huge down payment or an investment in one go.
- A number of installment loans like Cashco’s Flex Loans, allow you to perform debt consolidation. This reduces paperwork, confusion and also reduces the interest that you have to pay.
- Since the tenor of payment is long, some lenders like Cashco give cash benefits, discounts or waivers to clients who make payments on time, are repeat clients or make referrals.
Cashco Financial, a Company with a Difference
Cashco Financial is a privately owned financial services company in Canada which is headquartered in Edmonton, Alberta and has offices across many cities in Alberta, Saskatchewan, British Columbia and Ontario. Cashco is a pioneer in Canada in the field of flexible, soft rate long term personal loans and many other financial services.
The company boasts of a workforce that is ever expanding and already exceeds 450. Cashco also serves tens of thousands active clients and loans out hundreds of millions of dollars each year. We are still expanding our operations to serve as many Canadians as possible.
Why would you find Cashco always near you?
Cashco Financial is operating in 65+ locations all over Canada and in many cities; it is possible to find a store the moment you step out of your door. Cashco also has a massive online presence. Cashco Financial is one of the best Canadian online loans available in the market and is considered a leader in online lending.
The online application process is fast and easy. Cashco also believes in the “what you see is what you get” policy and so there are no hidden clauses or conditions that you need to be suspicious about. Although the application doesn’t translate into automatic gualification, we do our best to get you approved. We believe in people and we know in order to serve people better, we have to put trust in them. Cashco also expects trust from our clients in return. So, if you are having any kind of problem with regards to bill payments, please alert us quickly so that we can work something out together.
If you need a loan, talk to Casho’s live agents today or leave your contact details on an online application. Cashco wants to help you in any way we can. Always!