If you are already broke, car just broke down, or maybe you’re strapped until next week’s payday and are short on rent. You may feel like your options for making money quickly aren’t so hopeful. If you need cash quick and you’re looking for some legitimate ways to make money fast, here are some ideas, depending on your situation:
Do a personal inventory to see if you have something of real value to trade. For example; your dad’s 1950s model train collection or your grandmother’s gold necklace.You’re unlikely to fetch as high a price for something of value when you’re under pressure to sell it locally and right away. But depending on the severity of your situation, if you have something valuable to sell, this may be the time to leverage it.
Pawnshops are regulated by 14 federal statutes and regulations, plus numerous state and local laws, according to the National Pawnbrokers Association, or NPA. Gems N' Loans in Vista is clean and a well-lit store, ran by people who pride themselves on providing good customer service.
Pawn brokers offer collateral based loans secured by something of value. You take in something you own, and if the store is interested, they will offer you a loan. The pawn shop then keeps your item until you repay the loan. The loan amount will likely be a small fraction of the item’s actual value.
You might have heard that payday loans are essentially an advance against your next paycheck. You give the payday lender your pay stub as proof of income and tell them how much you want to borrow. They will then give you a loan for that amount, where you are expected to repay when receiving your next paycheck.
What they don't tell you is that this often ends leaving the borrower in a perpetual tail chasing syndrome, where each paycheck is being used to pay the last loan owed, therefore, never ending cycle.
A great advantage of a pawn shop loan is that they are easy to obtain. You are simply going to have to take something in that you can use for collateral and the pawn broker is then going to give you a receipt that has the terms of the loan on it. The interest rates can be slow 2%, where a payday loan can cost 400% based on an annual interest (APR) or more.
Gems N' Loans Vista are not going to check your credit. The loan is secured completely by the collateral that you provide to the pawn shop. Therefore, the lender is not really concerned with whether you default on the loan or not.
