Sunbit Loans in Huntsville (AL)

Sunbit
This page provides a detailed overview of all Sunbit Loans in Huntsville (AL), including lending terms, interest rates and customer reviews. Compare offers and choose the best loan product for your needs.
Offers: 2
Updated:
21.07.2024
13:07
Best Quick Loan Today 24.07.2024*
Finanso
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
100.00 – 5000.00 $
Rate
i

Interest rate

from 0.05 %
Term
i

Loan term for the financial product

5 days – 3 months
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.592
(22 Ratings)
Recommended FinScore™
0
300
650
1000
50.00 – 20000.00 $
Rate
i

Interest rate

to 35.99 %
Term
i

Loan term for the financial product

3 months – 72 months
Apply

How to Apply for Sunbit Loan in Huntsville (AL)?

  1. Application. Go to a participating merchant in-person or find one online using Sunbit's merchant locator. You can apply in-store, via a link provided by email from a merchant, or through an eCommerce checkout process.
  2. Submit Info. Complete a 30-second application without a hard credit check.
  3. Approval. Upon approval, you'll be informed about the terms including down payment and APR.
  4. Down Payment. Make the required down payment towards your total purchase amount.
  5. Manage Your Plan. Utilize Sunbit's tools to manage your plan, adjust payments, or pay off early.

Conditions and Requirements

Conditions

  1. Approval Rate. High approval rate with 90% of applicants approved.
  2. Application Process. Quick 30-second application with no hard credit check.
  3. Fees. No application, origination, pre-payment penalty, or late fees.
  4. Down Payment. A down payment is required.
  5. Credit Approval. Based on creditworthiness, state of residence, prior history with Sunbit technology, and merchant location.

Requirements

  1. Minimum Age. Customers must be at least 18 years old to be eligible for financing.
  2. Proof of Income. Customers must provide proof of income, such as a pay stub or bank statement, to demonstrate their ability to repay the financing.
  3. Annual Percentage Rate. APR ranges between 0% and 35.99%.
  4. Loan Term. The term ranges from 3 to 72 months.
  5. Creditworthiness. Sunbit uses proprietary algorithms to assess the creditworthiness of applicants. Customers may be required to have a certain credit score or meet other criteria in order to be approved for financing, as Sunbit runs soft credit checks.
  6. Valid ID. Customers must provide a valid form of identification, such as a driver's license or passport, to verify their identity.
  7. Purchase Amount. Some financing options may have a minimum or maximum purchase amount that customers must meet in order to be eligible. In general, loan amounts vary between $50 – $20,000.
  8. Payment History. Sunbit may also consider a customer's payment history when assessing their eligibility for financing. Customers who have a history of late payments or defaults may be less likely to be approved for financing.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Additional Resources

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