Compare Instalment Loans 2018 | New 3 & 6 Month Lenders

Compare Instalment Loans

Intro…

When the FCA rolled out price capping in early 2015 there was a big rush for payday firms to add instalment terms to their service or to make the complete transition. The game plan was to place customers on longer and more profitable contracts rather than to take a risk on monthly-only lending where profits are now tightly squeezed. What was already a competitive niche soon became arguably the most competitive in subprime lending. An instalment loan (common as installment loan in the States) would typically span between 2 and 11 months. A personal loan would then kick in at a year. Within this comparison we have scored the lenders across 2 sub-niches including 3 and 6 month loans.

Better value will always be available as terms are extended. This is due to fixed interest discounting itself from a reducing balance (in line with payments being collected on the account). More time is also ideal in constructing smaller repayment amounts that won’t affect the pay packet too much. This assumes that you aren’t requesting more than you would have when opting for payday. The lenders will of course wish you to be accessing more, as this is how they’ll make their money. A key benefit of choosing instalments is the quantity of service providers active today (50+). There is also a good variation in pricing across the range that makes it easy to spot value.

Compare Instalment Loans 2018…

Alexa Traffic Rankings & Facebook Fans…

1) Wonga.com: #7984 | 365,800+
2) Sunny.co.uk: #8074 | 14,500+
3) QuickQuid.co.uk: #9496 | 23,900+
4) SafetyNetCredit.com: #12,021 | 3630+
5) LendingStream.co.uk: #15,209 | 5680+
6) SatsumaLoans.co.uk: #16,550 | 8500+
7) MyJar.com: #18,901 | 19,700+
8) Smart-Pig.com: #20,122 | 30,800+
9) WageDayAdvance.co.uk: #22,647 | 9400+
10) PoundstoPocket.co.uk: #26,120 | 62,800+

*Alexa (UK) rankings and Facebook counts are shown as indicators of market share and web popularity.

Cheapest Deals…

/£300 (90 days) | Range: £48.60 to £211.20
/£300 (180 days) | Range: £76.50 to £300

Cheapest Instalment Loans UK…

Top 10 3 Month Loans for Bad Credit & Fair…

1) Drafty: £48.60
2) TrackLoans: £59.46
3) QuickLoanShop: £76.14
4) Tappily: £76.50
5) JLMoney: £90
6-7) Fernovo: £92.85
6-7) Quidie: £92.85
8) SafetyNetCredit: £96
9) Auden: £100.53
10) KabayanFinance: £109.94

Top 10 6 Month Loans for Bad Credit & Fair…

1) Tappily: £76.50
2) FairFinance: £88
3) SafetyNetCredit: £96
4) Drafty: £97.20
5) TrackLoans: £108.66
6) QuickLoanShop: £140.55
7) AnicoFinance: £147
8) SmartPig: £150
9) KabayanFinance: £154.94
10) Capfin: £162.30

Most Experienced and New 3 & 6 Month Lenders…

2002…
TheOneStopMoneyShop

2004…
JLMoney
Sunny (as 1MonthLoan)
UncleBuck
WageDayAdvance

2005…
FairFinance

2007…
Oakam
QuickQuid
Wonga

2008…
LendingStream
THLDirect

2009…
MrLender
MyJar (as TxtLoan)
ResponseFunding (as FancyaPayday)

2010…
CareFinanceandLoans
FastLoanUK
Ferratum
KabayanFinance
PoundstoPocket
SwiftSterling

2011…
Cash4UNow
CreditStar
Peachy
QuidMarket
TrustedQuid

2012…
AnicoFinance
CashAsap
NextCredit
PiggyBank
QuickLoanShop
Smart-Pig
WizzCash

2013…
MPPMoney
QuickLoansExpress
SatsumaLoans
Savvy (as LightningLoans)

2014…
Auden (as Uberima)
CashFloat
Credio
MoneyBoat
PeraLoans
PixieLoans
QuidieOnlineLending
SafetyNetCredit
SkyQuid
TickTockLoans
TigerLoansCompany

2015…
H&TFinance (pawnbroker since 1897)
MyKredit
PogoLoans
WeLendUs

2016…
Drafty
TheMoneyPlatform
ZippaLoans

2017…
Capfin
DotDotLoans
Fernovo
In-SyncCreditServices
PaydayLoansNet
Tappily
TrackLoans

Total Brands = 61.

Weekend Instalment Loans: Open Saturday and Sunday…

1) Drafty: Sat/Sun (7am-10pm)
2) Lending Stream: Sat/Sun (8am-8pm)
3) Cash Asap: Sat (8am-7pm), Sun (9am-7pm)
4) Pounds to Pocket: Sat/Sun (10am-6.30pm)
5) QuickQuid: Sat/Sun (10am-6.30pm)
6) MyJar: Sat (8am-6pm), Sun (9am-6pm)
7) Peachy: Sat/Sun (10am-6pm)
8) Smart Pig: Sat/Sun (10am-6pm)
9) Wonga: Sat (7am-8pm), Sun (8am-5pm)
10) Fast Loan UK: Sat/Sun (9am-5pm)
11) WageDayAdvance: Sat (9am-5pm), Sun (10am-4pm)
12) Mr Lender: Sat/Sun (8am-3.30pm)
13) Sunny: Sat/Sun (10am-3.30pm)

*Sorting by latest Sunday closing times or longest range if tied. Alphabetical order was required for Pounds to Pocket and QuickQuid since they are matched. These hours are important for initial application approval. Once you begin reloaning, pre-approved 24/7 funding is available from Drafty, SafetyNet and Tappily. Others may extend to 24/7 (subject to approval).

Niche Queries…

3 Month Payday Loans: Borrowing over 2 or 3 months is a good way to eradicate that chunky repayment payable over a single month. There is no issue with rollover lending here and a lower daily rate will be charged based on the interest being taken against a reducing balance. Perhaps the biggest attraction would be the ability to simply spread the cost and create more manageable repayments. Just remember to keep the borrowing amount on the low side to achieve this. Debts can otherwise soon spiral.

Installment Loans UK Direct Lenders: As was noted in the top passage, “Installment” is the US spelling, although this is actually the preferred way to spell based on local search engine data. The referenced query itself is quite popular targeting long term direct lenders in the UK. On this page today each company is a direct lender not broker and there are currently 50+ brands listed. This marks plenty of choice, but do remember that select companies do share the same owner. We’d advise paying attention to those commanding the most market share as well as the newest launched services that tend to arrive with good product specs to stand out.