Bad Credit Long Term Installment Loans Online Ontario

What Is a Long Term Installment Loan for Bad Credit?

So what exactly do we mean when talking about bad credit long-term installment loans online in Ontario? Well, as the name implies, these types of loans are designed to be paid back in installments, can be applied online, and are suitable for those with bad credit scores or poor credit status in general. Here are some key characteristics of long term installment loans:

• Usually unsecured, meaning that you don’t need to provide any kind of collateral
• Repaid in installments, which means that you repay the loan with regular, recurring payments, typically on a monthly basis
• Relatively high-interest rates, which compensate for the fact that you have bad credit
• Varying term lengths, normally ranging up to five years (60 months)
• Easy online applications, allowing you to simply provide some information online and sometimes get a response on your loan in a matter of minutes

Lenders Who Offer Bad Credit Long Term Installment Loans Online Ontario

If you’re looking for bad credit long term installment loans in Ontario, here are several lenders who you can turn to:

Magical Credit

Magical Credit is an online lender offering long-term installment loans for Ontario residents. With this lender, you can borrow anywhere from $1,500 up to $20,000, and you can choose to pay back monthly, semi-monthly, or bi-weekly for a term of 12 to 60 months. The loan application process is simple, and approvals occur very quickly, even for those with bad credit.

Cash 4 You

Cash 4 You is another Canadian lender that provides long-term installment loans for individuals with poor credit scores and bad credit history in Ontario and other parts of Canada. This cash can be used for everything from buying a new car to paying medical bills. Cash 4 You offers terms of up to 60 months and allows people to borrow anywhere from $1,000 up to $15,000 in cash.

Borrowell

Borrowell is a loan broker that Ontario residents can use to try and find lenders who will be willing to offer them long-term installment loans with bad credit. Of course, terms, rates, fees, and other specifics can vary based on your own financial situation and credit score, but Borrowell does aim to help everyone find at least one suitable loan offer to meet their needs.