Johnny Cash, the Man in Black, was a singer, guitarist and songwriter whose country, rock, blues and gospel music influences, soothed our ears in times of joy or even during the financial blues.
When searching for a cash loan during trying times, it is natural to sing the blues and maybe sing songs like After Taxes. When trying to make ends meet and remain sane, it might not be a bad time to go out and celebrate music and life.
Whether you are looking for a payday advance or a new guitar, it has been said finding something of value that you no longer wish to hang on to can be almost sold immediately or used as collateral for a loan.
Pawn shops like Gems N' Loans in Vista offer interest rates as low as 2%, or just out right sales of valued items for the night out you need to calm the nerves.
When wondering how to get a cash loan, you simply go to a pawnshop with something you own that you are willing to leave as collateral. The Gems N' Loans staff will assess the item’s value and condition to determine the resale potential. After a decision has been made, the pawn broker decides the potential loan amount.
Considering the borrower has left collateral with the pawn shop, the advance doesn’t require a credit check, bank account or co-signer. However, the borrower must be 18 years or older and show proof of identity.
After returning within the agreed time, which can usually be 30 days to a few months, the borrower will pick up the item of value and pay off the loan including interest as low as 2%.
One should start off with knowing why they need to borrow money, to begin with. This is the most critical factor you need to consider before borrowing or taking out a loan. If not done decisively could be detrimental to the borrowers finances.
According to recent polls, 47 percent of customers surveyed took out a personal loans to cover bills or emergencies. For example, they needed to pay for things like medical bills, a flooded basement, or dental visit.
These factors are almost always related to the individuals credit history and the ability to make payments on time. However, not everyone has good credit and need an alternative to depend on in times of need.
Throughout the years pawn shops have been given a bad name when looking for cash loans. Well contrary to this myth, they are often times more reliable than other sources out there. They also have lower interest rates and flexible payment plans.
The Gems N' Loans model is based on collateral lending that is structured based on the value of the item you wish to pawn. The pawn can often simply be the sale of the item if the customer doesn't wish to retrieve the item at a later date and doesn't care. Or in most cases the item of values is used as security to back the loan.
So before you go get involved in a title to payday loan, consider you neighborhood pawn shop for the emergency funds.
It’s common that when a business does both pawn and cash advance loans that they will also offer other services like check cashing, payday loans, Western Union, money orders, etc. These kinds of businesses are typically the go to of the financial service industry for those seeking fast cash.
These businesses that operate as both pawn shops and cash advance shops, do this for a lot of reasons. Often times it depends on the customer and the convenience.
Pawn shops like Gems N' Loans are typically known for loans against collateral or possessions, and are considered one of the safer types of loans that you can obtain. Why? For example, if you are unable to repay the loan, it doesn’t work against your credit score.
Unlike a Payday advance shop, that typically requires you to have a checking account, employment records and other documents.
So what is a pawn loans? A pawn, or collateral loan, is when you let a pawn broker hold onto something valuable and they loan you money. And when you are ready, you can return to the pawn shop and redeem your item.
After Cathleen and I got married, she received a phone call from a girlfriend who was in a bit of a financial jam. Her car was in the shop and she was completely broke, needing a $200 cash loan to cover the bill. Living in Vista without the car, she had no way of getting to work.
Making the situation more dire, Cathleen's friend is a single mom with a couple of young kids to worry about.
After I returned home from work one day, Cathleen explained the situation. Of course, being the inquisitive person that I am, the first question out of my mouth was, "doesn’t she have an emergency fund?"
Considering Cathleen and I were only recently catching up at the time, we were hesitant and unable to offer financial assistance . We were eating lots of macaroni & cheese and rice & beans to ensure we spent less than we earned. Our child is still a baby, and by the time we finished paying the mortgage for our new home, the car loan, and all our other bills and obligations, there was very little money left for discretionary spending or personal loans.
When looking for cash loans, people with poor credit histories are typically in bad shape if they need to get a loan for an unexpected expense, and banks and other lending institutions depend on credit scores almost entirely to determine if they will offer someone a loan.
At Gems N' Loans in Vista California, there are pawnbrokers willing to offer collateral loans with interest rates as low as 2%. The pay back time on these type loans are usually easier to content with leaving the only worst case scenario of not receiving your collateral should one default.
