Continental Loans review: Little, high priced loans with little to no transparency

Continental Loans review: Little, high priced loans with little to no transparency


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Image: guy standing on train, keeping coffee and mobile phone and searching for Continental Loans

In summary


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We think it is necessary we make money for you to understand how. It is pretty simple, really. The offers for lending options the truth is on our platform result from companies whom spend us. The cash we make allows us to offer you usage of credit that is free and reports and helps us produce our other great tools and academic materials.

Settlement may factor into exactly exactly how and where services and products show up on our platform (plus in exactly just what purchase). But since we generally speaking generate income once you find an offer you prefer to get, we attempt to demonstrate offers we think are a great match for your needs. This is exactly why we offer features such as your Approval Odds and cost savings quotes.

Of course, the provides on our platform do not represent all financial loans out there, but our goal is always to explain to you as numerous great choices once we can.

Little loan quantities available

Little transparency into expenses unless you use

No prepayment charges or balloon payments

You won’t understand your APR before you apply

Multiple methods to repay

maybe Not for sale in all states — while the application process can’t be completed online

What you should learn about A continental personal bank loan

Continental Loans is really an unit of safety Finance that provides loans from $256 to $2,000, based on your geographical area. Loans through Continental can be found just in a few states, and also the business markets its loans to people who have unforeseen emergency costs like car repairs or medical bills.

Possibility of high rates of interest

Continental Loans isn’t transparent about its interest levels. The lender’s site only provides certain price information for sc, a situation where loan providers have to post 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 an alternative for active-duty armed forces users. What this means is the terms are not essential to adhere to the Military Lending Act, which caps consumer loan rates of interest for active-duty solution users and covered dependents at 36per cent — the utmost that numerous customer advocates give consideration to reasonable for tiny loans.

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

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

To use for that loan from Continental, you need to go to or phone a regional branch. In person or by phone while you can begin the loan process online, you’ll have to finish it. This could be a drawback that is big you intend to apply online.

Plus, many loan providers enable candidates to accomplish an application that is online.

Several repayment options

You will find three various ways it is possible to repay a Continental loan: In person at a regional branch, over the telephone or through the mobile software of Continental’s moms and dad company, protection Finance.

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

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

A better 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 put on. That’s somewhat unusual — many loan that is personal need you to have bank-account whenever you use.
  • Refinancing fees: If you’d like to refinance or “renew” your loan, Continental will charge a fee a fee, though it won’t disclose the total amount until when you’ve used.
  • Belated cost: Continental charges a belated payment charge that’s 5% regarding the re payment due, with no more than $10.
  • Perhaps perhaps Not obtainable in all states: Loans can be found in just 14 states.
  • Referral payout: you can make $30 every time you refer a buddy whom removes a loan that is qualified.
  • Potentially quick financing: If you’re authorized for a financial loan, you might be capable of getting a check out the exact same time.

Should a Continental is got by me loan?

It’s best to stay away from the lender like Continental Loans this is certainlyn’t upfront about its array of interest levels and allows you to submit to a tough credit inquiry to have that information. When you yourself have a credit card to utilize, that could be your most useful bet for borrowing cash with better (and much more clear) interest rates and costs. Another choice might be a payday alternative loan, which some federal credit unions provide to people. These loans cap rates of interest at 28% and application charges at $20.

All of having said that, a Continental loan could be a significantly better choice than the usual title loan, that also commonly charges high interest but places you prone 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.

How to submit an application for a Continental loan

To use for a Continental loan, it is possible to drop by your neighborhood branch and obtain help from an agent, or you can phone a neighborhood branch to apply by phone. You can even look online to get going, but will fundamentally need certainly to phone or see a branch to perform the procedure.

Continental will ask you to answer when it comes to information that is following you use:

  • Your geographical area
  • Work history
  • Earnings details
  • Month-to-month costs
  • Personal Security quantity

Once more, keep in mind that the business will even perform a difficult credit inquiry to test your credit rating and re payment history.

Maybe maybe Not certain that a Continental loan is suitable for you? Evaluate these alternatives.

For those who have bad credit it may seem Continental is the better you are able to do. But we suggest taking a look at other loan providers that offer greater transparency within their charges and expenses. Both lenders below permit you to submit an application for prequalification. Just remember that your last terms may alter after you submit your full application, that may end in an inquiry that is hard also.

  • Personify: Personify loans also provide high rates of interest, nonetheless it could be an improved choice since you can use for prequalification without a tough credit inquiry to have a sense of the interest price you may get. Personify does not lend in almost every continuing state, though — therefore remember to check always availability before you apply.
  • OneMain Financial: OneMain Financial’s rates of interest can too be high. But this lender notes its variety of interest levels on its internet site, allows you to submit an application for prequalification without having a credit that is hard, and provides loans with various minimums and maximums — as much as $20,000 according to your state.

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

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