When Should I Consider Taking Out a Personal Loan?
A personal loan can be a good option when you need to consolidate high-interest debt, cover emergency expenses, or finance a major purchase at a lower interest rate than a credit card.
How Does a Personal Loan Affect My Credit Score?
A personal loan can positively impact your credit score by adding to your credit mix and helping build a history of on-time payments. However, paying it off early could reduce your credit history length, potentially impacting your score.
What Is the Difference Between an Interest Rate and APR?
The interest rate is the cost of borrowing the principal amount, while the Annual Percentage Rate (APR) includes both interest and any associated fees, providing a clearer picture of the loan's total cost.
What Are the Best Ways to Use a Personal Loan?
Common uses include debt consolidation, home improvements, medical expenses, auto repairs, and covering large purchases. The key is to ensure the loan serves a productive financial purpose rather than adding unnecessary debt.
By taking a strategic approach to debt management, you can make informed decisions that optimize your financial well-being.
Why trust AMG Finance?
AMG Finance began as a single branch serving local families in South Carolina. While we now operate nationwide, our mission remains unchanged.
The parent corporation of AMG Finance, Asbury Management Group, came into being nearly twenty years ago when founder Samuel J. “Chip” Asbury, IV, decided to build a consumer finance company built on the best practices from twenty-seven years in business, coupled with his personal dedication to “treat every customer with respect and operate the business with the highest level of integrity.”
With that belief as his guiding light, Chip built AMG Finance around the fundamental principles of honesty, ethics, transparency, fairness, care, and respect. AMG Finance is the company that wants to be your hometown lender where we put you, the customer, first.
We offer year-round support through fast, easy personal loans and tax preparation services. Whether paying off bills or making a big purchase, we’re here to help. Find your local branch and apply today.
