Secured Installment Loans

Secured Installment Loans do require that you place some form of collateral that you personally own on the loan such as a free and clear car title.

Another added benefit of our Secured Installment Loan product is that we report the payment history directly to one of the 3 major credit bureaus, Transunion. When payments are made on-time, the reporting of these to the bureau can increase your credit score.

American Credit Services (ACS) offers secured installment loans tailored for Missouri residents seeking traditional, collateral-backed financing. These loans are designed to be repaid over a period of 4 to 18 months, with fixed, equal payments, providing a more manageable alternative to payday loans that require full repayment in a shorter timeframe .

A key feature of ACS’s secured installment loans is the requirement for collateral, such as a free and clear car title. This collateral not only secures the loan but may also allow for more favorable terms compared to unsecured loans. Additionally, ACS reports payment histories directly to TransUnion, one of the three major credit bureaus. Consistent, on-time payments can positively impact your credit score, offering a path to improved financial health .

To qualify for a secured installment loan with ACS, applicants need to provide a verifiable form of income, a working phone number, and acceptable collateral. Loan amounts range from $100 to $2,500, with flexible repayment schedules that can be set up on bi-weekly, semi-monthly, or monthly plans. Importantly, there are no penalties for early repayment, allowing borrowers to pay off their loans ahead of schedule without additional costs .

ACS operates with transparency and is regulated by the Missouri Division of Finance. However, it’s crucial for borrowers to be aware that the maximum annual percentage rate (APR) charged on loans at this location can be as high as 550% . As with any financial commitment, it’s advisable to thoroughly read and understand the terms of the loan agreement before signing.

In order to qualify for one of our Installment Loans, you simply need to have verifiable form of income, a working phone number, and some form of collateral. For more details on what forms of collateral that we accept, please contact us at our store location.