Loans are a curse disguised as blessings if the borrower is not well-informed. There are various kinds of uses of a quick and loan, the non-repayment of which could lead to serious legal problems. What is an installment loan and what can it be used for? Installment Loans have been the go-to loans for almost anyone and everyone who opts for a loan but do we know what exactly is an installment loan or what is it used for?