Rates and Fees - Violet Advance

Violet Advance is a platform that connects you with a network of reputable lenders but does not directly lend money or set interest rates. Because of this, we cannot provide specific APR rates for your loan. If you accessed our site through a paid Google advertisement, you may have seen advertised repayment terms ranging from 3 to 48 months and APR rates between 4.95% and 35.99% for qualified borrowers, as per the Truth In Lending Act (TILA). However, these rates are not guaranteed for all users and may vary based on individual circumstances and lender policies.

Our goal is to ensure that the lenders in our network comply with all applicable regulations and maintain fair lending practices. The lending industry is heavily regulated at federal, state, and local levels, and various organizations oversee and enforce best practices and regulatory procedures.

Applying for a Loan

To apply for a loan through Violet Advance, you must be at least 18 years old. The APR and other terms of your loan will be determined by the lender based on the information you provide and their own criteria. Lenders will inform you of the APR they can offer.

APR rates are influenced by your creditworthiness and are subject to change. Consequently, the rate and total repayment amount may vary. Once your application is accepted, the lender will provide you with detailed information about the loan, including the APR, finance charges, and all terms and conditions. It is essential to review all provided details thoroughly to make an informed decision before accepting any loan offer.

Violet Advance offers a free service to connect you with reliable lenders and does not charge for this service.

Representative Examples

For illustrative purposes, consider the following representative examples for qualified customers:

$2,000 Loan for 12 Months: With a 3% arrangement fee ($60), monthly repayments would be $189.12, resulting in a total repayment amount of $2,269.44. The total cost of the loan, including the 3% fee, would be $329.44, with a representative APR of 29.82%.
$5,000 Loan for 48 Months: With an 8% arrangement fee ($400), monthly repayments would be $131.67, resulting in a total repayment amount of $6,320.12. The total cost of the loan, including the 8% fee, would be $1,720.12, with a representative APR of 18.23%.

Please note that these examples are based on the assumption of certain APR rates and fees. Actual rates and terms may vary depending on your qualifications and lender policies.

Lender Terms

While Violet Advance streamlines the loan application process, we do not make lending decisions or influence the terms offered by lenders. The specifics of your loan, including fees, APR, repayment terms, and renewal options, will be outlined in your loan agreement and will depend on local regulations.

Our platform is designed to connect borrowers with reliable lenders while providing information to help you understand loans and make informed decisions. We do not charge for our service and encourage you to carefully evaluate all loan offers. You have the freedom to accept or decline offers based on your satisfaction with the terms.

If you have questions about your loan agreement, including fees, nonpayment consequences, or renewal options, please contact your lender directly. We can only provide information relevant to our service.

Important Note

The information provided here is for informational purposes only and should not be considered legal advice. For specific details regarding your loan and its terms, please consult with your lender.