When a financial emergency happens, time is usually an issue. You need to know that you have money coming and when. At Lone Star Cash Services, we get you access to one of the most extensive loan networks on the internet. This can help you get a fast loan offer, even with bad credit. Ready to get your offer? Start now.
Popular Loan Options
If you think you lack options when it comes to quick money in Kyle, you are wrong. There are actually quite a few to choose from including installment loans, payday loans and pawn shop loans. Title loans are even an option but are not recommended. We won’t even discuss them, avoid them at all cost, at least if you want to keep your vehicle. Now, for the other three loan types.
Installment Loan Option
An installment loan is one that, as you might have guessed, can be broken down into multiple installments. If you use the form above to get a loan quote, you will be getting a quote for an installment loan.
The great thing about an installment loan over a payday loan is the lower payment. With a payday loan, the entire loan is due to be repaid at once which can be a challenge. If the payment is broken up, it should be smaller and easier to manage. The smaller payment can help you get your money affairs together in Kyle.
In addition to the lower payment, you have the fact that you can get more money. Payday loans are limited by state laws and the fact that you can only pay back so much in one payment. If you need more than the $1000 or so that you can take out with a payday loan, an install loan might be the choice.
Payday Loan Option
When you think about a loan for bad credit, this is probably the first thing that comes to mind but it does not have to be. Installment loans are generally a better option and available with bad credit. Let’s take a look at payday loans though.
The payday loan, as the name suggests, is a loan that will get you by until you get paid again. This means that you have to pay it back in full on your next paycheck. If you borrow more than $100 or so, this can be difficult. After all, you are having money trouble so how are you supposed to get caught up in less than two weeks. It can be tough.
That short payback period and state regulations also lead to another problem. You can only borrow so much money. If you need to borrow more than $1000, you are out of luck. With a lot of emergencies that is more than enough, but sometimes you need more.
Pawn Shop Option
One final way to get fast money in Kyle is to take advantage of a local pawn shop. A pawn shop can get you money the same day but you will be limited to around $100 or so.
The reason for the limit is that a pawnshop will only give you a percentage of the value of the item that you put in hock. Unless you have an exceptionally valuable item, you will not be able to get much money.
When you take out a pawn shop loan, you place an item in hock and when you pay the cash loan off, you get your item back. Despite this being a secured loan, you will still pay a lot in interest and you will also pay document fees and storage fees. It can add up.
What Option Is For You
The loan option you take will depend somewhat on your qualifications. All of these options will be available if you have bad credit but if you have exceptionally bad credit, they start to disappear.
First, try the installment loan because overall, it will have better loan terms than a payday loan. This is, of course, still going to be a bad credit loan so the interest will be high. That being said, it will usually be a lower APR than a payday loan.
If an installment loan does not work for you, a payday loan is a good second choice. Yes, the fees and thus the effective interest will be high but sometimes you have to do what you have to do.
Last on the list would be the pawn loan. These loans are for little money and you risk losing property but it might just be enough to get you through a financial problem.
Of course, it should go without saying that any bad credit loan should only be taken as a last resort. If you are trying to borrow the money for a necessity like a medical bill or rent then they might be a good option. If you want to buy concert tickets or any other luxury item, the cost is just too high.
If you have any loan questions, please feel free to contact us.
If you already have a loan and have a question, please contact your individual lender.
Fast cash loan options in Kyle.
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This article will tell you about your fast cash options in Kyle, TX. If you need money in a hurry, you can learn how to get a quote and see the major loan options that you have.