Installment loan vs payday loan: What’s the difference?
There are a few key distinctions between installment loans and payday loans that borrowers should be aware of before choosing one over the other. Installment loans typically have longer terms, interest rates that are lower than payday loans, and require a down payment. Payday loans, on the other hand, are designed for short-term needs and tend to have higher interest rates. They also don’t require a down payment and can be accessed quickly. In this article, we will further discuss the difference between these two loans and which one suits best for your needs.Visit us Here:
