Installment Loans FAQs
Avío Credit offers personal loans in the form of installment loans in some states. Take a look at our collection of installment loan frequently asked questions and answers.
The Essentials
Q. What is an installment loan?
A:
An installment loan is a personal loan that is funded in one amount and paid back over time. For example, say you got approved for $1,500. You’d get $1,500 at once and make payments over a set period of time.
Q. How do I apply for an installment loan?
A:
Applying for an online installment loan is as easy as clicking Apply Now anywhere on our website! You can also call us at 1-888-638-2846 to apply for a loan over the phone.
Q. What is the difference between an installment loan and a line of credit loan?
A:
Both loans are personal loans that can provide you with quick access to money. The main difference is in the fees and access to additional cash. With an installment loan, you will have a set term. Throughout that term, you will make consistent payments. At the end of the term, the loan is paid in full and if you need more money, you can apply for a new installment loan. A line of credit loan basically works like a credit card. It doesn’t have a set term associated with it. As long as you have a balance, payments will be due regularly. If you need more money at any time, you can get a cash advance against your line of credit (no need to apply for a new loan).
Online Installment Loan Application
Q. How can I apply for an installment loan near me?
A:
Do you know what makes Avío Credit a 21st century lender? Online loans! Since we don’t have physical stores (which helps us provide lower interest rates), the whole online installment loan process is at your fingertips, literally! All you need is your trusty friend, Wi-Fi.
Q. When and how are my funds deposited?
A:
Avío Credit funds loans using direct deposit to get your money to you as quickly as possible. Your money is typically deposited in less than 24 hours, although sometimes it may take a little longer.
Q. How does the online installment loan process work?
A:
Complete Avío Credit’s 100% online installment loan application with 5 simple steps:
Complete your online loan application
Receive a lending decision
Choose how much you want to borrow, up to your approved amount
Receive your money
Make payments
Installment Loan Repayment
Q. How do I make payments on my installment loan?
A:
Making a payment on your installment loan is a breeze – simply pay via your online account or over the phone at 1-888-638-2846. You can pay anywhere, anytime!
Q. Can I automate my installment loan payments?
A:
Yes! If approved for a personal loan and you elect to enroll in convenient automated payments, you will be able to setup a payment plan. While we strive to make repayment easier for you, enrolling in automated payments is always optional!
