Are you in need of some extra cash? Whether you have an unexpected expense or need a little help to make ends meet, a cash loan may be the perfect solution for you. Cash loans are short-term loans that allow you to borrow money and then pay it back over time. They can be a great option if you need cash quickly. Luckily, there are some great options available for cash loans in Temecula. Here are some of your best bets!
This is an excellent option for borrowing a large amount of money. Banks offer the lowest annual percentage rates with little to no fees. You’re likely to get an additional APR discount if you’re already a customer of that bank. Approval for a bank loan is generally dependent on your financial profile. If you do not have a good credit score, it may be challenging to get approval for a bank loan. This is also not a good option for sums of cash less than a couple thousand dollars. Most banks will tell you instead to get a credit card cash advance, which we’ll cover next.
Cash advances are nothing more than a short-term loan, which you will get easily if you have an account in good standing. One advantage of cash advances is that they’re swift. You’ve got to go to an automatic teller machine, punch in your PIN, and withdraw however much money you want, up to the credit card issuer’s limit.
The cash advance gets added to your credit card balance and accrues a different APR. Every credit card has a cash advance limit that is usually much less than your actual credit card limit. So, check your credit card statement before taking a credit card advance to find out how much you can take and whether it will be enough.
However, cash advances have some severe drawbacks. They typically have a much higher APR. If you don’t have a credit card but need cash fast this won’t be a great option. You can get approved for a credit card instantly but you won’t get that credit card for a couple of weeks at least.
Car title loans are also short-term loans, often just called title loans. They typically last 15 or 30 days. The loans use your car, truck, motorcycle, or other vehicles as collateral. To get a title loan, you must give the lender the title to your vehicle. Usually, you need to own the vehicle, but some lenders will take your title if you’ve paid off most of your vehicle loan. If you get a title loan, you won’t get your vehicle title back until you repay the amount you borrowed, plus the lender’s finance charge and other fees. Be careful with these types of loans as they can be very predatory.
If you’re in desperate need of cash and have a basement loaded with high-value items, you may consider a pawn shop loan. A pawn loan can be a quick and easy way to borrow money because it doesn’t involve a credit check or application process. Terms for pawnshop loans vary and often include high-interest rates.
Your loan amount depends on the value of the item you pawn. When you take something of value like jewelry to a pawn shop, chances are you can walk out with some cash. To reclaim your pawned item, you’ll be required to pay back the total amount of the pawn loan. Gems N’ Loans is a great place to get a pawn shop loan.