Which Personal Loan is Right for You?

AS WE'VE DISCUSSED, there are numerous forms of personal loans available to Americans. Payday, installment, and auto title loans are all excellent short-term financial solutions if used responsibly (view our Responsible Borrowing Checklist here), but which personal loan is right for you? The information below will help you decide.

Payday loans are the best option, in most cases, if you want to borrow up to $1000 overnight and are able to repay the full amount (principal and interest) by the second payday after you received the loan. They are ideal for covering unexpected expected bills, or avoiding overdraft fees or bounced checks. Depending on which state you live in, payday loans and cash advances have an interest rate of 15-25% per hundred dollars borrowed. To Get up to $1000 in your bank account in the next 24 hours - Apply Now!

Cash advances are the best option, in most cases, if you want to borrow up to $1000 fast and are able to repay the full amount (principal and interest) by the second payday after you received the loan. They are ideal for covering unexpected expected bills, or avoiding overdraft fees or bounced checks. Depending on which state you live in, payday loans and cash advances have an interest rate of 15-25% per hundred dollars borrowed. Click to get $1000 FAST cash!

Installment loans are the best options, in most cases, if you want to borrow more than $1000 and want to repay the full amount in multiple equal payments called installments, beginning 4 months after you receive the loan. Installment loans are ideal if you want to repay the loan in small amounts, instead of one large lump sum, and want to choose when you will repay the loan. Depending on where you live, installment loans have an interest rate of 24-28% per hundred dollars borrowed.

Car title loans are the best options, in most cases, if you want to borrow more than $1000 by giving the lender the ability to sell your car if you do not repay the loan. In order to receive an auto title loan, you must hold the title to your car, which means you must own it free and clear. Auto loans are ideal if you need cash but are unsure that you will be able to repay the loan in cash, but are willing to borrow against your car to receive the loan. The average car title loan has an average interest rate of 25% per hundred dollars borrowed.

Remember, none of these personal loans are intended to be long-term financial solutions. They are quick, convenient ways to receive cash for a short-term financial solution and should be used as such.

The FastCash4You Financial Network

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