Do you need a quick $1000? If so, Tina can help. There are a lot of ways to get 1000 dollars and many of them are quick and easy. The easiest way is of course a loan an I can help you get a quote for that. If after you see your offer, you decide it is not for you, there are other options. Let’s take a look.
First, Your Quote
This is going to be the fastest way to get your money but I understand that a loan is not for everyone. It is nice to have options though and quotes are free. Take a couple minutes and complete a short quote form and see what you might qualify for.
Now On To Your Other Options
If you decided that a loan was not for you, you have other ways of getting the money. Here are some possible choices.
- Borrow from friends and family.
Nobody ever likes this answer when I give it to them but it is a classic fallback. Who can help you more than family? Nobody and as a side benefit, you will probably pay no interest or fees. The only thing you have to lose is a bit of pride from revealing yur finances to your family. Suck it up though, it is a free loan.
- Get a sign on bonus.
If you are thinking about changing jobs and you are in a blue collar trade, sign on bonuses are plentiful. Employers are paying big dollars to lure talent and they might just be willing to cough up a grand to get you. As another perk, they might just increase your pay over what you are making now. Win. Win.
- Work part time.
If time is not a huge factor, perhaps a part time job is in your future. With most retailers increasing their starting pay, you should be able to find a job where you clean $10 an hour after taxes. This means that you just need to work 100 hours to get the money that you need. That is 10 weeks at 10 hours a week or 5 weeks at 20 hours a week. How fast do you need the money?
- Borrow from your 401K.
If you have a 401K, this is the ultimate cheap loan with interest that you are typically paying back to yourself. Payments will also be small and taken directly out of your check. You will never miss them.
- Get a cash back auto loan.
You have probably heard of cash out home refinances bit you might not be aware of the cash back auto refinance. There are lenders that will do this if you have some equity in your vehicle. If you have an existing loan, this could of course add a lot of time to your loan so be careful.
If You Decide On A Loan
If you do decide on a loan, there are a lot of things that you need to know. Here are some things that you should understand as an informed consumer.
- There will be interest and fees.
Loans can be expensive and the worse your credit is, the higher the cost. Before agreeing to a loan, make sure that you read all of the terms and conditions. Pay attention to all of the details but the APR in particular.
Most people think that the APR is the interest rate but it is actually a bit different. The APR or Annual Percentage Rate is actually the rate when you add in all of the fees and loan costs. A loan might have a low interest rate but hundreds of dollars in fees, for example, giving it a high APR. APR allows you to compare several different loans and be able to quickly see which one is the cheapest.
- Not all loans are affordable.
Your lender will check your credit and income and make a quick decision as to whether you can pay back the loan. This does not actually mean that you can afford the loan. Most lenders, especially in the subprime area just want to get the deal done.
It is up to you to fit the loan payment into your budget and decide if it is affordable. Be realistic and make sure that you have enough money each month to pay other bills and to actually eat after making your loan payment.
- You might be able to do better.
If you get a loan offer, it does not mean that it is the only offer you can get. You might be able to get a better offer or you might be able to negotiate a better price with your lender. It pays to do your due diligence to get the best possible terms.
If you are unhappy with the rates you get, your best option might be to wait and improve your credit. Pay your bills on time, dispute negative information and try to cut your balances on your credit card.
- The loan should be needed.
By this I mean that the loan should be for money that is truly needed and not just wasted. This is especially true if the interest is higher which would be the case with a bad credit loan.
So, before you sign for the loan, ask yourself one simple question. Do i really need the money?