What is a $1200 Installment Loan?
The simplest way to understand a $1200 installment loan is to think about a home mortgage or a car payment. In each instance you make the same payment each month until they are paid off. Each payment consists of principal and interest. As you get farther into the payments your principal amount is reduced and a larger portion of each payment goes towards your principal and less to the interest on the loan.
The difference between an installment loan you will find on 1200loan.com and a home mortgage or a car loan is that our loans are unsecured. This means you do not put up collateral against the loan. Your signature is essentially the collateral on the loan. Also car loans and home loans can drag out for years. A 1200 installment loan with one of our lenders is generally complete in 6-9 months.
$1200 Installment Loan
Your Payment = Principal + Interest
Many people find installment loans to be a convenient way to cover their short term financial needs any number of reasons interrupts their monthly cash flow. An installment loan allows you to budget over the next several months and get the loan paid off. Other short term loan options continually roll over, making it very difficult to pay them off and get ahead. If you have questions regarding installment loans please visit our F.A.Q page.