The largest loan Possible Finance offers — consolidate a few scattered balances or cover a bigger expense with predictable fixed payments. The fee is set on the day you accept and does not move, however long the term runs.
At this size the term makes a real difference to the total. Move both controls and watch the bottom line, not only the monthly figure.
An estimate for illustration only. Your exact fee, term and APR are confirmed before you accept, and they vary by state. Checking your rate is free and won’t affect your credit score.
At $5,000 the difference between 12 and 24 months is not small. A longer term halves the monthly figure and roughly doubles the fee. Neither is wrong — but pick with the total in view.
| Term | Monthly payment | Flat fee | Total repaid | Representative APR |
|---|---|---|---|---|
| 12 months | $489.58 | $875.00 | $5,875.00 | 30.9% |
| 18 months | $350.69 | $1,312.50 | $6,312.50 | 30.9% |
| 24 months | $281.25 | $1,750.00 | $6,750.00 | 30.7% |
Stretching $5,000 from 12 to 24 months takes $208 off the monthly payment and adds $875 to the total. If the shorter term is affordable, it is the cheaper choice. If it is not, the longer term is safer than missing payments on a shorter one.
Consolidation only helps if the new loan is genuinely cheaper and the old balances stay closed. Three checks worth doing first.
Not the monthly payments — the total remaining on every balance you plan to clear. That is the number the Plus Loan has to beat.
If consolidating costs more overall but makes the month survivable, that can still be the right call. Just make it knowingly rather than because the monthly figure looked smaller.
The common failure is paying cards off and then using them again, leaving both the cards and the loan. If you cannot close them, consolidating may not be the answer yet.
If the totals do not work, free nonprofit credit counselling can often negotiate terms no loan can match, and it costs nothing to ask. See responsible lending.
We look at your income and banking activity rather than a credit score. At this size we look harder at whether the monthly payment fits.
Same flat-fee structure across all three. The difference is the size and how long you have.
| Starter Loan | Installment Loan | Plus Loan | |
|---|---|---|---|
| Amount | $200 – $1,000 | $1,000 – $3,500 | $3,500 – $5,000 |
| Terms | 6 or 12 months | 6, 12 or 18 months | 12, 18 or 24 months |
| Example | $500 over 6 mo | $2,000 over 12 mo | $5,000 over 24 mo |
| Monthly | $90.63 | $195.83 | $281.25 |
| Flat fee | $43.75 | $350.00 | $1,750.00 |
| Total repaid | $543.75 | $2,350.00 | $6,750.00 |
| Representative APR | 29.4% | 30.9% | 30.7% |
Not sure which fits? The full calculator covers the whole $200 to $5,000 range in one place.
Between $3,500 and $5,000. What you are offered depends on your income and banking activity rather than a FICO score, and the ceiling varies by state. For smaller amounts see the Installment Loan.
Yes. The flat fee scales with the term, so 24 months lowers the monthly payment and raises the total repaid compared with 12. The table above shows all three side by side.
It can be, if the total you repay here is lower than what you are paying now and you close the balances you clear. Compare total dollars rather than monthly payments, and see flat fee vs. APR for how to do that properly.
No, and this matters most at this size. The fee was fixed the day you signed rather than accruing daily, so paying early closes the loan sooner without lowering the total. There is never a penalty for doing it.
Contact us before the next due date. On the longest term there is the most room to restructure what remains, and asking for help never triggers a fee or a mark on your file by itself.