Continental Loans review: Small, high priced loans with small transparency

Continental Loans review: Small, high priced loans with small transparency


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In summary


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We think it is necessary we make money for you to understand how. It is pretty easy, really. The provides for lending options you notice on our platform result from organizations who spend us. The income we make allows us to offer you usage of credit that is free and reports and allows us to produce our other great tools and academic materials.

Payment might factor into exactly exactly how and where items show up on our platform (plus in exactly just what order). But since we generally generate income whenever you find an offer you want and acquire, we make an effort to explain to you provides we think are a great match for your needs. That is why we offer features such as your Approval Odds and cost cost cost savings quotes.

Needless to say, the provides on our platform don’t express all financial loans out here, but our objective is always to demonstrate as numerous great choices even as we can.

Tiny loan quantities available

Minimal transparency into expenses unless you use

No prepayment charges or balloon re payments

You won’t understand your APR before you use

Numerous how to repay

Perhaps perhaps maybe Not obtainable in all states — and also the application procedure can’t be completed online

What you ought to realize about A continental personal bank loan

Continental Loans is just a unit of safety Finance that provides loans from $256 to $2,000, dependent on your geographical area. Loans through Continental can be obtained just in a few states, plus the company markets its loans to individuals with unforeseen crisis costs like automobile repairs or medical bills.

Possibility of high rates of interest

Continental Loans isn’t clear about its rates of interest. The lender’s site just provides rate that is specific for sc, circumstances where loan providers have to upload their APRs — and people prices come in the high double- to almost triple-digits.

Another clue that prices are high: Continental records that its loans aren’t a choice for active-duty army people. What this means is the terms are not essential to comply with the Military Lending Act, which caps customer loan rates of interest for active-duty solution members and covered dependents at 36per cent — the most that numerous customer advocates give consideration to reasonable for little loans.

To learn what type of rates you’re dealing with, you’ll have actually to endure the applying procedure, that involves a credit inquiry that is hard. This might knock your credit scores down a bit.

No online loans: mobile or application process that is in-person

To try to get that loan from Continental, you have to go to or phone a neighborhood branch. In person or by phone while you can begin the loan process online, you’ll have to finish it. This is often a drawback that is big you need to apply online.

Plus, many lenders enable candidates to perform an application that is online.

Several repayment options

You can find three other ways you are able to repay a Continental loan: face-to-face at a neighborhood branch, throughout the phone or through the mobile application of Continental’s moms and dad business, protection Finance.

There’s no prepayment penalty for settling your loan early. There’s also no balloon re payment that’ll be due.

Desire to prequalify for a financial loan? See if I’m Prequalified Now

A closer glance at Continental loans that are personal

Check out more details on Continental loans.

  • No banking account needed: You don’t require a bank account to make use of. That’s somewhat unusual — many loan that is personal need you to have banking account once you use.
  • Refinancing fees: though it won’t disclose the amount until after you’ve applied if you want to refinance or “renew” your loan, Continental will charge you a fee.
  • Belated charge: Continental charges a payment that is late that’s 5% associated with the re payment due, with at the most ten dollars.
  • maybe Not obtainable in all states: Loans can be purchased in just 14 states.
  • Referral payout: you can generate $30 each time you refer a pal whom removes an experienced loan.
  • Possibly quick money: If you’re authorized for the loan, you may well be in a position to get a check the day that is same.

Should we get a Continental loan?

It’s best to stay away from a loan provider like Continental Loans that is upfront that is n’t its selection of rates of interest and allows you to submit to a tough credit inquiry to obtain that information. When you yourself have a bank card to make use of, that could be your most readily useful bet for borrowing cash with better (and much more clear) interest levels and expenses. An alternative choice could be a payday alternative loan, which some federal credit unions provide to users. These loans cap rates of interest at 28 application and% charges at $20.

All that said, a Continental loan might be a better option compared to a name loan, that also commonly charges high interest but places you vulnerable to losing your car or truck in addition to it. A Continental loan might also could be more desirable over— if you can pay it back almost immediately to avoid costly interest payments if you don’t have a bank account and need just a little money to tide you.

Simple tips to make an application for a Continental loan

To use for a Continental loan, you’ll drop by your neighborhood branch to get assistance from an agent, you can also phone a regional branch to use by phone. You’ll be able to go surfing to get going, but will ultimately need certainly to phone or search for a branch to accomplish the procedure.

Continental will ask you for the after information whenever you apply:

  • In your geographical area
  • Employment history
  • Earnings details
  • Month-to-month costs
  • Personal Security quantity

Again, keep in mind that the business will even execute a difficult credit inquiry to test your credit score and re payment history.

maybe maybe Not certain that a Continental loan suits you? Evaluate these options.

When you have bad credit it may seem Continental is the greatest you certainly can do. But we advice taking a look at other loan providers that offer greater transparency to their costs and expenses. Both lenders below permit you to make an application for prequalification. Just remember that your last terms may alter once you submit your full application, that may end in a difficult inquiry, too.

  • Personify: Personify loans also provide high rates of interest, nonetheless it can be a better choice you might receive because you can apply for prequalification without a hard credit inquiry to get an idea of the interest rate. Personify does not provide in almost every continuing state, though — therefore be sure to always check supply before you apply.
  • OneMain Financial: OneMain Financial’s interest levels can be high, too. But this loan provider notes its selection of interest rates on its web site, allows you to make an application for prequalification without having a difficult credit inquiry, and will be payday loans Hampshire offering loans with various minimums and maximums — as much as $20,000 based on a state.

Desire to prequalify for the loan? See if I’m Prequalified Now

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