If you’re in a financial pickle, you may be looking for how to get emergency cash money. While your financial situation may be causing you to panic, don’t! There are many different resources you have available to take advantage of. As a borrower, you have many alternative loan options to consider if you are looking for how to get emergency cash money.
Borrowers that need to cover things like emergency expenses or medical bills could look at how Max Cash Title Loans can help them. Max Cash Title Loans helps connect borrowers regardless of credit histories, to a lender that can work with them.5 Applying can take just minutes to do online, or through a cell phone with a representative. If you need to cover unexpected expenses.
To learn more about how to get emergency cash money with financial assistance, keep reading below!
Lenders that Can Provide Emergency Cash Money
One of the easiest ways to obtain quick cash, even after the coronavirus pandemic, is through a loan. While there are many different loan options to choose from, it is important to pick one that will help your financial situation.
All loans have pros and cons, as there are repayment terms and loan amounts that will differ. Even the interest rate you are offered will depend on the type of loan you choose, and the lender. Below are a few loan options:
Credit Card Cash Advance
If you already have a credit card provider, one of the resources you can utilize for quick cash is a cash advance. For this type of loan, you will need a decent credit score, and available credit to pull from. A credit provider can allow a cash advance if you have a credit line with little use on it, to turn your available credit into cash.
To obtain a cash advance with your credit card, simply visit a sponsored ATM, a credit union, or apply online. One thing to keep in mind, however, is that credit card cash advances will still be subjected to interest rates, just as a purchase with your card would. Sometimes, a credit card cash advance will have higher interest rates than a regular purchase. Your eligibility will depend on your credit score, and approval will require good credit.
If you do not have a bad credit score, a personal loan can be an easy way to obtain money in a crisis. Personal loans can be obtained through banks, credit unions, and online lenders. They can be short-term loans, or long-term depending on the lender and repayment plan you choose.
The application process for a personal loan is often based on the borrower’s credit score, and their income. It can be challenging for approval, if you do not have financial stability with employment, and a good credit score. A credit check from a lender will often weed out those without the right criteria. If you are in an emergency situation, there may be other loan options to consider first.
These are short-term loans that are meant to last a borrower in-between a payday. Often, the repayment process can be anywhere from 2 weeks to 30 days, with the option to roll over the loan. While these loans are an easy way to obtain fast cash, they often come with high interest rates and fees. A higher interest rate means you will often be paying back double what you borrowed originally! While payday loans can be an easy way to obtain cash, there are other loans to consider for emergency money.
If you are a homeowner, one of the most advantageous options you have is a HELOC, or home equity line of credit. This loan will allow you to tap into the equity of your home, but only a little at a time! If you are in an emergency situation and you do not have enough in your savings to cover the unexpected expenses, a HELOC loan can help.
Since you are not taking out a lump sum at once, you can gradually take small amounts as you go and make monthly payments. If you need a larger amount, you can take out a home equity loan instead to meet your financial needs. One of the drawbacks to choosing both a HELOC and home equity loan is the asset involved. These loans allow you to use your house as collateral, and tap into it’s equity. This means if you default on your loan and are put in an emergency situation, it could result in you losing your home. While this is a last resort for most, it is still a possibility to consider.
Title Loans for Emergency Cash Money
Another alternative loan option is a title loan. Title loans were created to help those from different financial backgrounds and credit histories. Since title loans are secured loans, the approval process can be much more flexible. This is because title loans use the title of your vehicle as collateral, allowing you to access the vehicle’s equity. Collateral makes the loan secure, and offers more security to the lender that the loan will be repaid. Since the value of the collateral is much more important than your credit history in the approval process, those from all credit backgrounds could potentially be eligible.
Typically, you can borrow 25%-50% of your vehicle’s equity. If your vehicle is worth $10,000, you may be able to borrow $2,500 to $5,000 depending on your eligibility. Your income, and your loan amount will help determine your monthly payments. Additionally, your income will also affect how much you are able to borrow with your vehicle. While you may have a vehicle with a lot of equity, if your income does not support a high monthly payment, you may not get approved.
Get an Emergency Loan with Max Cash Title Loans2
When you are in an emergency, you need access to an emergency loan if you do not have enough saved. Max Cash Title Loans can help connect you to thousands of lenders that could help you with your financial situation.5
The best part? You will not even need to leave your couch to apply! Borrowers can get started on their loans and place a loan inquiry online. This can take just minutes to do, and it can be done from the comfort of your own home.2 If you are unable to apply online, you can call a representative to assist you with your loan as well. Getting started with an online title loan is easy!