The Kitchen Table

Discover how LPI Loans' consumer finance loans work, who they can help, and why our simple approval process is made for those with less-than-perfect credit.

By: Emily J. Degen

 

What Are Consumer Finance Loans?

Consumer finance loans are personal loans designed to help individuals manage their expenses, whether for unexpected bills, home repairs, or other personal needs. These loans are typically offered by specialized finance companies, like us at LPI Loans, and are often tailored to meet the needs of people with poor or bad credit who may not qualify for traditional bank loans.

How Do Consumer Finance Loans Work?

Consumer finance loans generally work by providing borrowers with a fixed loan amount, which they agree to repay over time with interest. Here’s a quick breakdown of the loan approval process:

1. Application: Customers fill out an application online or over the phone. We offer a straightforward process and usually provide a response within a few hours.

1. Approval: After reviewing the completed information, we determine whether the applicant qualifies for the loan. If a loan isn’t approved right away, we’ll provide personalized guidance on how to boost your chances for approval next time.

1. Terms: Our loans have fixed repayment terms, including the interest rate, monthly payment amount, and total repayment period, allowing for affordable personal loans that fit your budget.

1. Repayment: Borrowers make regular monthly payments, which may help build their credit if paid on time. These credit-building loans can be a great tool to improve credit scores over time.

Who Can Consumer Finance Loans Help?

These loans are ideal for:

• People with poor or bad credit who need financial assistance but may not qualify for traditional loans.
• Anyone facing unexpected expenses like car repairs, medical bills, or home improvements.
• Customers looking to consolidate debt into a more manageable payment structure using installment loans.
• Individuals seeking to build or rebuild their credit, since making on-time payments can improve credit scores and provide financial stability.

Why Choose LPI Loans for Your Consumer Finance Loan?

At LPI Loans, we specialize in finding consumer finance loans that fit your budget and needs. Although we review your credit history, we do not pull or use your credit score at all in our decision-making process. Instead, we focus on understanding your unique situation and what brought you to us. Whether you're applying online or by phone, our simple loan approval process ensures that obtaining a loan is accessible—even if your credit isn’t perfect. With over 50 years of experience, we provide friendly, approachable service and flexible payment plans to support your financial success.

Not sure where your credit stands?  You may check your credit every 12 months for free at https://www.annualcreditreport...