Installment loans are the saviors and make financial life easy. They provide money in a bunch but take back in small repayments.  It is the reason that the lowers installments are the prime concern of every borrower.

The detailed conversation with the lender on the deal sometimes does not end up on a satisfying conclusion. The monthly payments may not be in the size that one wants. Have you ever experienced that?


If you feel the monthly installment is high and can be tailored a bit to a lower amount, the door of negotiation is always open. However, to negotiate, you need some points and facts to base the conversation.

Here are some of the ways and suggestions that one can follow to figure out the desired solution.

Give a rational comparison of the interest rates

Certainly!!! The interest rate is the first factor to stimulate the chances of a lower installment. Shop around for the best available prices in the market, mention them to the lender, and prove that your demand is realistic. No lender wants to lose a borrower.

However, also make sure that your financial condition is suitable to qualify for the desired rate of interest. Logic is the biggest weapon for a borrower while discussing the cost part of a loan deal. If you know how to use it wisely, nothing can hamper the way to an affordable loan deal.

Make the lender remind your strong financial capacity

Loan companies are more reluctant towards borrowers with weaker economic conditions. Those with strong repay efficiency can manage to get some flexibility on their desired aspect, whether on rates, tenure, etc.

If your current earning capacity is impressive and can easily manage to make the repayments, make it a potential point of discussion. Remind about the remarkable income outgoing ratio (should not be less than 60:40), good income, additional earning (if any), and whatever required.

Borrow through broker

This suggestion is always a precondition of taking a loan if you want to keep the doors to renegotiation open. Brokers know everything about the loan market and also how to renegotiate on a deal if you are not satisfied. They can turn your final offers on installment loans into an affordable choice with pocket-friendly repayments.

Broking services can remove the part of renegotiating by bringing a suitable deal in the first chance. Still, if any need for negotiation rises, the broker bridge is always there. Don’t worry; the fee-free broker service options are available in the market in abundance.

Pay off some other debt and make it a reason for negotiation

Monthly payments also go high when you fail to qualify for a longer tenure. If you pay off debt and make some space in the bucket of creditworthiness, it becomes easy to renegotiate.

The lender should consider your capacity to pay off debts and then respond to it by making things a bit more flexible. Stringency is applied only to the problematic borrowers who are not much reliable in their financial behavior.

Ask for favor as an existing client to the lender

Oh Yes, it is a good tactic. Every finance company offers some perks to keep a hold on its existing borrowers. If you have previously taken the loan from the same lender, it is the right time to exploit your right. However, this should not mean ignoring the logic of a minimum repaying capacity required. Asking for an unrealistic change in the deal is not a good idea.

As an existing customer of the lending company, there are chances that you borrow again in the future. In that case, the lender should show some respect towards the trust the borrower shows on it. Most of the time, such things work, especially, when your borrowing history with the lender is good with timely payments.


Renegotiation is never a complicated process if you talk on facts. Just trying to make the deal convenient for you without any actual logic is not something one should do. Mention the right reasons, and you can manage to get the installments smaller in size. But, always remember that every suggestion mentioned above is useful only when your personal finances are sound. Asking for an unfair favor is not something that works.

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