Cash loans are calling your name. Whatever the reason may be that brought you to this point, you need a fast cash delivery to tie up all the loose ends of your budget this month. There seems to be a million and one cash loans out there, all competing for your attention. Which cash loans offer the best benefits and the lowest interest rates? Which ones are free - with no charges or fees? Which ones put cash in your pocket in the shortest amount of time?
If you have one or all of these questions on your mind, you're in the right place. Below, we dig into the details of all the various cash loans and the benefits and downfalls of each. If you have more questions after reading, feel free to contact us. We're here to offer information and assistance around the clock.
Ah, the wide world of cash loans. There's so many options to choose from!
For starters, there are payday loans. Payday lenders pop up everywhere. You can get an advance on your paycheck, but you have to pay the cash back usually in a short time frame. Payday lenders usually tack on a very high interest rate to all money delivered past the first month, so charges can add up quickly. That being said, payday loans do let the borrower walk away with cash, most of the time, so they're convenient and quick.
There are also cash personal loans offered by major banks and local credit unions. To get approved for a bank loan takes a lot longer than a payday loan. You have to submit document after document, detailing who you are and what you do for a living. You have to provide facts on many minute details and back it up with forms. The paperwork is through the roof. When you are approved, sometimes the bank doesn't provide cash. They write you a check. This takes at least a few days to clear in your account, so you may not have all the available funds ready to go immediately.
Finally, there are car title loans. A car title works like this: the lender takes the paper car title from the vehicle owner and gives them a cash loan in its place. They agree to a set of terms that govern the repayment schedule. Once the car owner fulfills their payment obligations, they get their car title back. It's a pretty simple transaction, and doesn't have the drawbacks as payday loans and bank loans. Keep reading to find out more about this kind of cash loan and how it compares to the other two.
Payday loans are strictly based on the amount of money in your paycheck and your credit score. Talk about judging you! Most borrowers don't like this because they're trying to get a cash loan to dig themselves out of a financial hole. Their credit isn't going to be perfect and they're going to have to pay ridiculously high interest rates because of it.
Bank loans also heavily focus on credit, as you can imagine. In fact, certain credit scores might completely disqualify borrowers from a personal loan from a bank, even if they have a good job or own a car.
The last kind of cash loan is much less judgemental. Car title loans offer no credit checks because they're just not necessary! Once the applicant proves that the car is in their name and it's 100% paid off, using the title as collateral makes the loan safe and secure. There's no risk for the borrower or the lender going into the cash loan agreement, so credit checks are completely disregarded.
Sure, a payday loan might offer cash up front, but you also have to immediately pay them back. They're not looking out for your interests like a car title loan lender is. Bank-originated cash loans might transfer the money to your account, but some of the funds might be put on hold for at least one or two business days.
Car title loans most definitely win the competition when it comes to offering immediate cash. When car owners walk into a title loan lender, they walk out with cash, no matter how much money offered by their title loan. So for car owners with high-end vehicles, they could get their hands on thousands of dollars and be able to spend it right away.
No cash-spending limits or restrictions are in place with a car title loan! Of course, payday loans don't normally limit borrowers either, but they force you to pay it back pronto or face major charges. So what can you really accomplish when you have to scrape all the money back together just a few weeks later? As far as bank loans go, sometimes they require you to disclose exactly what you'll be using the cash for, or else they won't lend to you.
If you're a title cash loan borrower, you can tackle any or all of the following projects:
And take as much time as you need to pay the money back! Agree to a lengthy, extended repayment plan and you'll never worry about your budget again.
If you've heard enough and you're convinced that car title loans are the best cash loan option out there, get started on your online application. Here is the list of documents you'll need to have handy to complete the form and obtain your cash:
To back up all the information, we might ask you for a couple of references, but other than that this is all you need to get the top-notch local cash loan you're looking for. Call us today if you have more questions or begin your application now.
We offer car title loans in Florida, as well as the following metro areas: