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An Overview of Cash Advance Installment Loans

Cash Advance Installment Loans
Cash advance installment loans are one of the best solutions to solving financial incapacities. Emergencies happen without warning and when they do, it can be hard to face them when there is no cash available on hand. Fast cash is one of the most important things, especially where money is concerned.

To know where to look for quick cash easy in case of emergency, it is best to have an idea what avenues are open for you to take. There are different cash advances that can be obtained and cash advance installment loans just might be what you need.

Cash advance intallment loans terms

With cash advance installment loans, you get the benefit of being able to get quick loan and have more time to pay. In addition, you do not have to pay all at once because the payment is done through installments. Different installment loans or short-term installment loans will have different schedules for payment. The duration from one payment to the next depends on what loan plan you have availed. Some have a longer time period while others have shorter.

Then, there are also the interest rates and the terms to deal with, so depending on what your needs are, you will have to choose which type of loan suits your needs. Just make sure you do not fall into the hands of the lenders offering unsecured short-term installment loans.

Different types of installment loans

Besides the cash advance installment loans, there are other loans that you can go for. There are private lenders, like Fiat Financial Money Center, that allow a cash advance of $500 up to $1000, or even $1500, and the payments can be done over a few months. This type of loan tends to be more expensive because of the high interest rate that is charged to the borrower. The advantage is that there is a longer period of time before the due date is up.

Another type of cash advance installment loans that is suitable for those who have bad or poor credit is the pawnshop. Pawnshops will allow you to borrow money from them as long as you have a valuable item of sort that you can use as leverage for the money you will borrow. You will have to pay on time and regularly, or you may have to pay additional fees. It is also possible that you will not be able to get back your item if you do not pay after a certain period of time. It is therefore important that you understand the terms and conditions before applying for a loan. Then, if you agree with the terms apply, keep the signed loan documents.

Other more possible cash advance installment loans are called car title loans. Just like the loans in pawnshops where a valuable item is first surrendered, with a car title loan, it will be the clear title of your car or other type of vehicle that will be used. For some lenders, they also allow land titles instead of vehicle titles.

Getting Cash Installment
Payday loans also offer cash advance installment loans. There are online payday loans lenders that can approve your request for a loan in just a matter of 24 hours. Their process is fairly simple, and within a day or two, you can get the cash advance. They can wire you the money directly or you could have it deposited into your bank account. This is an ideal type of loan when speedy cash is needed within 48 hours.

Requirements for cash advance installment loans

Applying for the cash advance installment loans is pretty easy, but there are certain qualifications to be met. These are usually the following:

  • You must be a citizen of the United States
  • You must be at least 18 years of age
  • You must have a valid ID and a utility bill that will prove your residency and address
  • You must have a job or source of income
  • You must have a valid checking account

You can apply for the cash advance installment loans in their offices or you can also apply online. like with Magnum cash advance offers.

The online applications offer more advantages. One advantage is that it is easy and fast to submit an application through online submission. There are less hassles of dealing with lining up and waiting for your turn. Usually, there are brokers who will offer their services to help you find the right lender for you. You can submit your basic personal information to them and then they will give you a possible list of lenders that might be able to lend you the money you need. Going through a broker will save you more time applying for different lenders.

The benefits of a short-term installment loan

The installment loans offer a lot of benefits and the foremost is that the money borrowed is received in a very short period of time. The required information and documents are very basic, and there is only a little chance that your application for a loan will not be accepted. As long as the requirements are met, within a day or two the application will be approved.

Since the demand for cash advance installment loans has increased more, and more lenders are offering greater deals, the usual high rates of cash advance offers have tremendously decreased. The rates are still high, but it is worth the efficiency of being able to receive the money in 24 or 48 hours. In addition, the payment back time is delayed because the payment is done on installment and not as one big lump sum.

The cash advance installment loans are easy to obtain, and it will give you more time in order to pay back the money borrowed. If you will ever have to resort to borrowing money through loans,  at least you will know how to do it while also staying away from unsecured short-term installment loans.

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