Sunset Finance Review: Features, Rates, Requirements, and Customer Feedback of 2024 (2024)

About Lender

Sunset Finance is recognized for its reliability in assisting customers with their financial needs, particularly during times of unexpected bills and the need for immediate cash. With a focus on consumer finance industry, the company has built a reputation for helping individuals manage emergencies such as auto repairs and doctor bills, as well as providing cash for vacations, holidays, back-to-school needs, and more. Their services are designed to offer financial support and solutions that cater to the immediate needs of their customers, emphasizing the company's commitment to trust and customer satisfaction.

Sunset Finance offers a range of small secured loans with fixed monthly payments, tailored to fit the budget of each customer. The loan amounts range from $100 to $3,000, catering to various needs such as purchasing new tires, organizing graduation parties, or simply covering extra expenses. This flexibility in loan offerings demonstrates Sunset Finance's dedication to providing financial solutions that are accessible and adaptable to the unique financial situations of their customers.

The conditions and requirements for obtaining a loan from Sunset Finance are designed with the customer's convenience in mind. The loan application process is straightforward, with an emphasis on clear communication and transparency. Prospective borrowers are required to provide basic personal information through an online form, which is then forwarded to the closest branch for further processing. This process ensures that each application is handled promptly and efficiently, allowing Sunset Finance to offer personalized loan solutions that align with the financial needs and circ*mstances of their customers.

Key Features

1. Personalized Loan Solutions. Sunset Finance offers small secured loans ranging from $100 to $3,000, with fixed monthly payments tailored to fit the borrower's budget. This approach caters to individual financial needs, whether it's for new tires, a graduation party, or just some extra cash.

2. Tax Preparation Services. In addition to loan services, Sunset Finance provides tax preparation assistance. They offer free, no-obligation quotes to ensure clients get their maximum return. This service is designed to simplify the tax filing process and maximize refunds.

3. Convenient Application Process. Prospective borrowers can start their loan application process online, facilitating a straightforward path to securing a loan. This process is aimed at efficiency and ease, with Sunset Finance committed to contacting applicants for further information, ensuring a seamless customer experience.

4. Community Support. Sunset Finance is committed to helping customers manage unexpected emergencies, such as auto repair and doctor bills, as well as providing cash for vacations, holidays, and back-to-school needs, highlighting their role in supporting financial wellness in their community.

5. Accessible Service Hours. Sunset Finance operates Monday through Friday, from 8:30 am to 5:30 pm, with seasonal Saturday hours. This schedule ensures customers have ample opportunity to access their services.

6. Dedicated Customer Service. The company emphasizes its mission to help people, indicating a focus on exceptional customer service and support throughout the loan process and beyond.

Pros and Cons

Pros

Cons

Reliability

1. Establishment. Sunset Finance has been operating since 2001, indicating a long-standing presence in the financial industry.

2. Regulatory Compliance. The company is licensed and regulated by state banking departments in Georgia and South Carolina, ensuring adherence to state laws and regulations governing lending practices.

3. Better Business Bureau Rating. Sunset Finance holds an A rating with the BBB, suggesting a good track record in addressing customer complaints and resolving disputes, although it's not accredited by the bureau.

4. Customer Reviews. Trustpilot reviews rate Sunset Finance at 4.3 stars out of 5, indicating generally positive feedback. However, BBB reviews give the company only 1 star out of 5, with concerns mainly revolving around customer service.

5. Complaints. Over three years, there have been four complaints about the company, suggesting a relatively low volume of issues compared to its years in operation.

6. Cautionary Note. While Sunset Finance has positive aspects, it's advisable for customers to carefully review loan agreements, understand repayment requirements, and consider potential impacts on credit scores. Meeting payment deadlines is crucial to avoid late fees and negative credit consequences.

How to Apply for a Sunset Finance?

Apply for a Loan

1. Visit the Website. Start by navigating to Sunset Finance's official website to begin the application process. On the homepage, look for the 'Get Started' with your personal loan option to initiate the loan application.

2. Complete the Preliminary Application Form. Fill in the required fields in the online form, which include your last name, first name, phone number (without a "1" at the beginning), email, and your full address (street address, city, state, and zip code).

3. Submit Your Form. After ensuring all the information entered is correct and complete, submit your preliminary application form. Remember, the form must be fully completed for your information to be submitted.

4. Wait for Contact. Once you have submitted your information, wait for a representative from your closest Sunset Finance branch to contact you. They will reach out to gather further information, discuss your needs in detail, and guide you through the next steps of the application process.

5. Prepare Your Documents. While waiting to be contacted, gather any financial documents you might need for the loan application. This could include ID, proof of income, financial statements, and any other documents that can support your application.

6. Find Your Local Branch. Click on the 'Find Your Local Branch' link to identify the closest Sunset Finance branch to you. This is important because your application and subsequent steps will be processed through your local branch.

7. Complete the Loan Application. With the guidance of the Sunset Finance representative, complete the full loan application process. This will likely involve providing detailed financial information and specifying the amount of money you wish to borrow.

8. Review and Sign Loan Agreement. Once your application is approved, carefully review the loan agreement, including the terms and conditions, interest rates, repayment schedule, and any fees. Sign the agreement to finalize the loan process.

Conditions and Requirements

Conditions

1. Availability. The availability of loans and services may vary based on the applicant's location. It's essential to contact or visit a local branch for specific offerings. The company's offices are located in the states of Georgia and South Carolina.

2. Purpose of Loan. Loans are provided for various personal needs, including unexpected bills, emergencies like auto repairs or doctor bills, and other personal expenditures like vacations, holidays, or back-to-school needs.

3. Loan Amounts. Sunset Finance offers small secured loans ranging from $100 to $3,000. These loans come with fixed monthly payments tailored to fit the borrower's budget.

4. Loan Terms. Short-term loans with Sunset Finance have repayment terms ranging from 1 to 24 months.

5. Interest Rates. This finance company follows federal legislation and defines its APR's according to the Truth in Lending Act (TILA). The interest rate depends on the amount, term, creditworthiness, and other factors. The specific rate will be indicated in your loan agreement.

Requirements

1. Personal Information Submission. Applicants must fill out a preliminary application form with their personal information, including last name, first name, phone number (a 10-digit number without the prefix "1"), email, and full address (street address, city, state, and zip code).

2. Completion of the Form. The form must be fully completed for the submission to be processed. Incomplete forms may result in non-submission of the application.

3. Contact by Local Branch. After submitting the form, applicants should wait to be contacted by their nearest Sunset Finance branch for further details and instructions on completing the loan application process.

4. Document Preparation. While not explicitly stated, applicants typically need to prepare and possibly submit various documents during the loan application process, such as ID, proof of income, and financial statements, to support their application.

5. Collateral is Required. In some cases collateral is utilized to bolster the security of your loan, and while company do offer personal loans with a lien recorded on a title for added strength, but do not solely base loans on vehicle value, necessitating additional collateral.

Ways to Receive the Money

Once the borrower is approved for a loan, Sunset Finance offers two primary methods for receiving the funds. The loan funds may be provided in the form of a check or through direct deposit to the borrower's bank account. However, the timing of the loan disbursem*nt may vary, contingent upon the borrower's bank and other factors. This flexibility allows borrowers to choose the method that best suits their needs, whether they prefer immediate access through direct deposit or the convenience of a physical check.

Products

• Personal Loan. Borrowing money through a personal loan gives you the flexibility to put that cash toward whichever goals you choose. Any reason is acceptable when applying for a personal loan, from dental and medical care in unexpected emergencies to vacation and back-to-school costs, car and home repair loans, holiday purchases, even a down payment on a house, starter loans, and sudden bills. From $100 to $3,000, you can acquire a personal loan from Sunset Finance with fixed monthly payments based on your income and financial situation.

• Tax Preparation. The professionals at Sunset Finance can help you file your taxes. Generally speaking, tax preparation entails drafting tax returns (often income tax returns) for someone other than the taxpayer in exchange for payment. You can get a free, no-hassle estimate from them. Within 24 to 48 hours after IRS acceptance, you can get up to $6,000 from Sunset Finance. Returns to the Internal Revenue Service, your state, or your municipality can all be prepared by a tax professional.

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Reasons for Loan Refusal

Check Credit Score

A loan application with Sunset Finance could be refused for several reasons, often depending on their specific requirements for loan approval. Common reasons for refusal might include incomplete application forms, failure to meet minimum income requirements, poor credit history, or lack of sufficient collateral for secured loans. Additionally, if the applicant does not provide all the necessary documentation requested by Sunset Finance or if the provided information cannot be verified, the loan application may also be declined. Understanding and meeting the outlined requirements are crucial steps in reducing the likelihood of loan refusal.

How to Repay a Sunset Finance?

Repay

Repaying a loan with Sunset Finance involves various methods, although currently, online payment alternatives are not available. Payments can be made via debit card over the phone, albeit incurring associated costs, particularly at local branches in Georgia. However, making in-person payments with a debit card at these branches does not trigger convenience fees. The company accommodates conventional payment forms such as cash, checks, and money orders. Depending on negotiated terms, borrowers may have the option to repay their loan through installments, offering flexibility in managing repayment schedules.

Loans like Sunset Finance

OppLoans

Apply for a Loan

OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey.

Rise Credit

Apply for a Loan

RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.

OneMain Financial

Apply for a Loan

OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.

Universal Credit

Apply for a Loan

Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.

Editorial Opinion

Important

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 theCommunity 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.

Methodology

At Finanso, we've carried out a comprehensive analysis of over 100 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources

• Full Sunset Finance Account Review
• How to Apply for Sunset Finance Loan
• How to PayOff Sunset Finance Loan
• All Sunset Finance Coupons and Promo for April 2024

Sources

• sunsetfinance.net

• Sunset Finance.bbb.org

What is Sunset Finance?

Sunset Finance offers unsecured personal loans of smaller amounts with fixed monthly payments to suit borrowers' financial needs.

Sunset Finance is a company that provides personal loans to individuals who need financing for a variety of purposes. According to their website, Sunset Finance specializes in providing loans to people who may have difficulty obtaining credit through traditional lenders due to their credit history, income, or other factors.

Sunset Finance offers loans ranging from $100 to $3,000, with repayment terms ranging from 1 month to 24 months, depending on the loan amount and other factors. The company has branch locations in Georgia and South Carolina, and borrowers can also apply for a loan online.

To apply for a loan with Sunset Finance, borrowers must complete an application that includes information about their income, employment, and other financial details. Sunset Finance will then assess the borrower's creditworthiness and ability to repay the loan and may require additional documentation or verification before approving the loan.

Is Sunset Finance a direct lender?

Yes, Sunset Finance is a direct lender. This means that the company provides loans directly to borrowers rather than acting as a broker or intermediary between the borrower and another lender. When a borrower applies for a loan with Sunset Finance, the company will assess the borrower's creditworthiness and ability to repay the loan and, if approved, will provide the funds directly to the borrower. The borrower will then be responsible for repaying the loan according to the terms of the loan agreement. As a direct lender, Sunset Finance is able to provide borrowers with more control over the loan process and may be able to offer more flexible loan terms than a broker or intermediary lender.

How does Sunset Finance work?

Sunset Finance works by providing personal loans to individuals who need financing for various purposes. Here is an overview of how the process works:

1. Application. To apply for a loan with Sunset Finance, borrowers must complete an application that includes personal and financial information, such as their name, address, employment details, and income.
2. Assessment. Sunset Finance will assess the borrower's creditworthiness and ability to repay the loan based on the information provided in the application. The company may also require additional documentation or verification, such as proof of income or a credit check.
3. Loan offer. If the borrower is approved for a loan, Sunset Finance will provide them with a loan offer that includes the loan amount, interest rate, and repayment terms. The borrower can review the offer and decide whether to accept or decline it.
4. Funding. If the borrower accepts the loan offer, Sunset Finance will fund the loan by depositing the funds into the borrower's bank account or providing a check or cash, depending on the borrower's preference.
5. Repayment. The borrower is responsible for repaying the loan according to the terms of the loan agreement, which includes making regular payments on time and paying the loan in full by the end of the loan term. Borrowers can make payments online, by phone, in person, or by mail.

Sunset Finance also provides services and assistance in the preparation of tax returns. Every day, they assist their customers in dealing with unforeseen crises such as unexpectedly high electricity bills, car repairs, or unexpected medical expenses.

How do I make a payment to Sunset Finance?

According to Sunset Finance, there are several ways to make a payment on a loan:

• By phone. Borrowers can make a payment by phone by calling their local Sunset Finance branch during business hours and providing their payment information over the phone. There is a fee in Georgia branches.
• In-person. Borrowers can make a payment in person at their local Sunset Finance branch during business hours. Payments can be made with cash, check, or money order.
• By mail. Borrowers can mail their payment to the address listed on their loan statement or provided by their local Sunset Finance branch. Payments should be sent at least 5 business days before the due date to ensure they are received on time.

Make your loan payments on time to avoid late fees and potential negative impact on your credit score. If you are having trouble making a payment, you should contact Sunset Finance to discuss the options, such as setting up a payment plan or modifying the loan terms.

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