Smarter Loans Inc. is not a lender. Smarter.loans is an independent comparison website that provides information on lending and financial companies in Canada. We work hard to give you the information you need to make smarter decisions about a financial company or product that you might be considering. We may receive compensation from companies that we work with for placement of their products or services on our site. While compensation arrangements may affect the order, position or placement of products & companies listed on our website, it does not influence our evaluation of those products. Please do not interpret the order in which products appear on Smarter Loans as an endorsement or recommendation from us. Our website does not feature every loan provider or financial product available in Canada. We try our best to bring you up-to-date, educational information to help you decide the best solution for your individual situation. The information and tools that we provide are free to you and should merely be used as guidance. You should always review the terms, fees, and conditions for any loan or financial product that you are considering.
Getting financing in British Columbia is easy with an installment loan. Repairs for your car, unexpected bills, a business investment or even a vacation can be taken care of by the growing popularity of installment loans in BC.
Approval has never been more readily available in British Columbia. Stacks of paperwork and long line-ups are a thing of the past. After a brief online application, the cash is deposited directly into your bank account within a couple days.
The hard work is already handled by Smarter Loans.
There’s a list of reputable companies who offer installment loans in BC awaiting you just below.
Compare installment loan lenders interest rates, terms, qualifications, reviews and other products offered. After finding the best fit for you, click, “Apply Now” to begin the online installment loan application on the lender’s site. Alternatively, you can pre-apply with Smarter Loans and we will connect you to a suitable lender within 24-48 hours.
Most of the loans you’ve gotten before have probably been installment loans. They are the most common type of loan.
A secured installment loan will require you to provide collateral to be able to take the loan. You can use any asset you have that a lender is satisfied will mitigate the risk of lending you money as collateral. Because secured loans are less risky for the lender, they usually have better rates.
Unsecured installment loans are less risky for you but riskier for the lender. So, the BC lenders will usually charge higher interest rates if you don’t provide collateral. They will also usually require higher credit scores to qualify for.
You can compare BC installment loan lenders online. Once you decide on an installment loan, you just need to send an application to the lender of your choice.
Your application will include some basic information, like your ID and proof of payment. The lender will use this information to assess you and come up with rates to offer you. When they are done, they will either reject you or send you an offer.
Once you accept an online installment loan, the lender will send you the funds. From that point, your first repayment is due, and the terms of the loan will be applied.
Yes, there are plenty of BC installment loans with no credit check required. You just need to find the lenders that offer bad credit installment loans.
These bad credit installment loan lenders won’t need to check your credit score. So, they will often charge higher rates than other lenders.
Qualifying for installment loans in BC is not difficult. You just need a source of income of at least $1,200 per month and some credit history. You might need to show your last 3 months of bank statements.
Qualifying for an installment loan with good rates is harder. A higher credit score and a higher, more stable income can help you qualify for better rates.
You can get installment loans from any British Columbian lender that accepts your application. Installment loan lenders include banks, credit unions, online loan companies and alternative lenders. It is easiest to qualify for online installment loans through alternative lenders though, as their requirements are less stringent.
Yes, there are bad credit installment loans in BC available for borrowers with bad credit. You will just need to find the lenders that offer these bad credit installment loans.
These lenders will usually accept applications from those with low credit scores. However, they will charge higher interest rates. They may also ask for a co-signer or some collateral to secure the loan against.
Installment loans can be used for many purposes. Any expense that you can’t afford to pay for right away can be paid for with an installment loan. Some of the most common reasons for an installment loan are: