When you need money fast, it can be hard to find an option that’s right for you. To help you get the money you need when you need it, we’ve put together a quick guide outlining some of your options.
A Few Notes
Before you begin the hunt for fast cash, you should understand what you’re getting yourself into. Generally, you’re going to be sacrificing something if you want money in your pocket right now. In most cases, this means you’ll be paying a much higher interest rate than you would with a standard loan. However, it’s also important to keep in mind that the interest rate you’re shown when you take out a loan is the APR, or annual percentage rate. This is the interest rate over a period of 12 months. If you’re planning on taking out a loan for one week, you can divide your APR by 52 to determine the interest rate over that one-week period.
It’s important to understand what you’re getting yourself into before you commit to a loan.
Your Options
When it comes to instant cash loans NYC is a great place to be. You have a lot of options at your disposal if you need cash quick. Here’s a quick breakdown of a few of those different options.
If you’ve done your research, you probably know that payday loans are one of the most popular ways to get quick cash. These instant cash loans get you the money you need and allow you to pay it back in a short period of time. They have high interest rates, however, so it’s best not to overuse this type of loan.
Pawning or selling items is a good alternative to the instant cash loans NYC provides. Whether you have some old valuables you don’t need or you’re simply looking to borrow money and use your favorite guitar as collateral, you can get money quickly at a pawn shop. Plus, if you pawn an item, you’ll get it back as long as you pay your loan back in full on time.
The Verdict
If getting your hands on cash quickly was easy, we’d all be doing it. However, there are ways you can put some extra cash in your pocket when you’re down on your luck, especially if you have a paycheck coming up. If you’re confident you can pay back the loan on time, it’s not a bad idea to pawn something at a pawn shop or take out a payday loan. However, if you’d prefer to get cold, hard cash without paying a bunch of interest, you might want to look into selling some of your old stuff.
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