LOS ANGELES – August 11, 2021 – (Newswire.com)
You may find yourself in some situations where you might need quick cash to cover expenses like an unscheduled car repair or a medical bill. And if you’re short on cash, you might be considering taking out a loan. Loans can be a great way to get the cash you need fast, and you may not need good credit to get approved. Here are four quick cash loans who can get you financing when you need it most.
If you have a job with a regular salary, you may be eligible for a cash advance. These loans can give you funds to cover your expenses before your next payday. You will usually pay off the loan within two to four weeks, and you can use your next paycheck to cover it.
You can request a cash advance online or in store. If you’re approved in the store, you can often get cash right away. For online loans, you can usually receive a direct deposit within one business day.
If you have a car with a blank title in your name, a title loan is a quick way to get money. With a title loan, you can return the title to the lender in exchange for a short term loan. Because you are providing the title of your car as collateral, the loan is considered secured. And that means many lenders have more lenient requirements, so you might not need a good credit rating to get a title loan.
Most title lenders can get you money for your car title the same day you apply or within 24 hours. Better yet, you can continue to drive your car while you pay off the loan. But be careful and make sure you understand the loan terms before you apply. If you fail to repay it, the lender could repossess your car.
Unlike a title loan, which is secured by your car, a personal loan is unsecured. This means that you will not need to provide a guarantee. But it also means that lenders may see your credit score as a bigger factor when deciding whether or not to approve you. So, if you are working to improve your credit score, lenders may still be willing to offer a personal loan, but with a slightly higher interest rate.
You can apply for a personal loan online and receive funds as quickly as one business day after approval. Since personal loans are installment loans, you will have a fixed monthly amount to repay until the borrowed amount plus interest is paid in full.
Pawn shops allow you to exchange a valuable item, such as jewelry or electronics, for a short-term loan. The amount you can get for a loan is based on the value of the item you are pledging and can be up to 60% of the resale value. Since the pledged object serves as collateral, you can often get a loan from a pawnshop without needing a good credit rating.
Pawn shops are among the fastest types of loans available because you can usually get out with cash on the spot. To recover the item you pledged, you will need to repay the loan in full plus interest.
The bottom line
If you need quick access to cash to cover an emergency, title loans, cash advances, personal loans, and pawn shops are all viable options. Before deciding which type to use, it’s important to consider how much money you need, your credit score, and how long until you can repay the loan. By taking these factors into account, you can make a wise decision and choose the right loan for you.
Note: The information provided in this article is provided for informational purposes only. Consult your financial advisor about your financial situation.
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4 loans that can get you money fast