Financial emergencies can happen to the best budgeters, planners, and savers, sometimes at no fault of their own. If you are also facing a financial crisis and need money quickly, you may be wondering about your lending options. Well, depending on your finances, there may be a lot to choose from, even if you are looking for same day cash. For example, you may come across an Installment loan, personal loan, cash advance, credit card options, and more. And those are just loan types; there are several lenders that you will also need to filter through, such as CreditNinja, Rocket Loans, Check City, and Check Into Cash.
Personal loans can work exceptionally well for short-term emergency expenses because they are versatile—and this article will focus mainly on them. One lender you may come across in your search for personal loans is Check Into Cash, an online loan company offering various loans. However, how do you know there isn’t a better alternative? With the proper comparison tools and information, you can compare lenders in no time. Continue reading to learn more about Check Into Cash, comparing loan offers and lenders, and an overview of CreditNinja’s personal loans.
Finding the Right Personal Loan
Finding the right personal loan may seem daunting, especially if you have decent credit and more options available than the average person. Fortunately, there are several strategies you can use and different factors you can look at to find your best personal loan option. Continue reading to learn more about a few questions you should ask yourself to help you find your optimal personal loan:
How Much Money You Are Getting With the Loan—Is It Enough Funds?
Most people take out a personal loan for an emergency expense or purchase. If you are also considering a personal loan for that reason, you should consider whether that loan will cover the entire cost of that purchase. If you don’t qualify for the funds you need, sometimes adding a cosigner can help. But ideally, you’ll want a single loan over multiple, as managing numerous loans can be challenging and not the best move for your credit.
Is The Monthly Payment Affordable?
Because most personal loans are installment loans, you will likely repay yours in steady monthly payments. To ensure a smooth repayment process, find a personal loan that fits your budget comfortably. Depending on how long the repayment period on your loan is, you may have a monthly payment due for an extended amount of time, so it is definitely something that you shouldn’t take lightly.
Another reason why affordable repayment is critical is that payment history is the most significant factor that impacts a credit score. Thus, missing even a single payment can really hurt your credit scores (A helpful tip when repaying any loan is to have automatic payments set up through a bank account). Once you have your loan terms, you can calculate your monthly payment with a simple loan calculator, or you can do some math with a simple formula.
Are the Funds Going To Be Available Fast Enough?
Some lenders are definitely faster than others with their application and funding process. And if you are facing an emergency, it will help to be strategic with the lenders you inquire with to save time. For example, generally, financial institutions like banks and credit unions may take longer than online lenders, who you can apply with usually at any time of day, wherever you have internet access.
What Are the Loan Terms?
Loan terms include the monthly payment and other repayment terms. These are important to know for a couple of reasons. You’ll want to ensure you know about the loan terms so you don’t violate a loan agreement which can lead to default. Additionally, knowing your terms can help avoid unnecessary fees and compare loans.
Do You Know Enough About the Lender You Are Working With?
And lastly, you should find out details about the lender you plan on working with. Do some research to find out about their general terms and what kind of flexibility they provide for their borrowers. Additionally, check out experiences and feedback from past customers.
To reiterate, to compare one personal loan with another, you should look at the following:
- Loan Amounts — The loan amount refers to how much funding you are granted upon approval.
- Interest Rates — Personal / installment loans usually have simple interest rates, meaning interest is only charged to the principal. Be sure to take interest into consideration, as it usually is the largest cost associated with a loan.
- APR — APR (the annual percentage rate) is the total cost of the loan).
- Repayment Terms — When borrowing the exact amount and the same APR, typically, the shorter a loan, the less you will pay in interest but a higher monthly payment. In comparison, a longer loan can mean more interest but a lower monthly payment.
- Payment Terms — compare the monthly payment and other repayment terms.
The mistake many people make when comparing loan options is focusing solely on interest rates. However, that usually isn’t the only cost or the only important variable for consideration when making an informed lending decision.
As mentioned earlier, when searching for personal loans online, you’ll likely come across Check Into Cash, a lender that operates in person and online. Below is additional information on this lender and details on how they compare to personal loans with CreditNinja.
Loans Like Check Into Cash: What You Need To Know
Check Into Cash was founded in Tennessee, and currently, they do business all over the country—you can search by location to find whether they are available in your state. Primarily they are a lender, but they offer other services as well.
More Information on the Loans That Check Into Cash Offers
Check Into Cash offers a few different loan products; below is a list of them, along with general information on these loan types:
In Person or Online Payday Loans
Check Into Cash offers payday loans online or in person. Payday loans are incredibly short-term loans (usually due when you receive your next paycheck) that offer a small number of funds for bad credit borrowers. Usually, there is no credit check involved with the payday loan process, which is one reason why people with bad credit may gravitate toward one of these options.
These loans come with a high cost and, when paired with a short time for repayment, can quickly become overwhelming. And because there are so many alternatives to these options, there really is no reason to start with a payday loan for borrowing money.
Installment Loans
Installment loans are options repaid in equal monthly payments until paid back in full. You’ll find all kinds of installment loans, but the ones that Check Into Cash provides are essentially personal loans.
Many people choose installment loans because, most of the time, they come with a predictable repayment schedule. They are also popular because there are so many different types.
Title Loans
Title loans are secured and use a borrower’s vehicle as collateral. While the borrower repays the loan, the lender can keep a lien on the car’s title or keep the vehicle until the loan is paid back in full. In the case of Check Into Cash, they allow their borrowers to keep and drive their cars while repaying the title loan.
Loan amount and approval are usually based on the market value of the vehicle and the borrower’s ability to repay the loan. Like payday loans, most people check out these loans
because they don’t have the best credit. However, better alternatives may exist!
Lines of Credit
Lines of credit are revolving credit accounts, which means you can borrow from them multiple times until you reach your limit. A line of credit can be a great option if you have an ongoing expense and aren’t certain how much money you will need to borrow.
Remember that with Check Into Cash; you can only have one loan at a time. So, for example, if you are currently paying back a payday loan with them, you will need to pay that off before applying for an installment loan. You can, however, borrow funds and use their other services, such as check cashing.
What To Expect With an Installment Loan With Check Into Cash?
If you do decide to get an installment loan with Check Into Cash there, here is what the process will typically look like:
- Fill out an online application to apply online or head to a location in-person.
- Submit some documents to see if you qualify.
- Get the funds once approved. If approved in person, you can leave with the funds. When applying online, the funds will be deposited into a bank account.
Depending on your state, an installment loan with Check Into Cash can range between $50 to $5,000. Loan amounts will be based on your income, ability to repay, and credit standing. Check Into Cash does not provide specifics on their loan rates, but just like the loan amount, your financial situation will play a large role in this part. When it comes to repayment with their installment loans, you can pay your loan back online or in person.
Other Services That Check Into Cash Offers
Check Into Cash offers loans, but they also offer other services; here are some of those services that you can use in person at a Check Into Cash location:
- Check cashing.
- Money orders.
- Retailer gift cards.
- Visa debit cards.
- The ability to make a payment in-store.
CreditNinja: How Does It Compare?
At CreditNinja, we are an online lender that offers personal loans. We have been helping people reach financial security since 2018 and have assisted thousands!
More Details on Our Personal Loans
Loans with CreditNinja can range from a few hundred to a few thousand dollars. And repayment terms will vary and can last between months to years. The loan amounts and interest rates will vary as well, depending on your finances. You’ll find out more details after filling out an online application on our site!
Getting a Personal Loan With CreditNinja
The personal loan process when working with us is easy, and if approved, you may get the funds by the next business day!* Here is a breakdown of our application process:
- Apply for a personal loan with our online application — the online application on our site is simple and takes only a few minutes to complete. Just answer some basic questions about yourself and your finances.
- Help us verify some information — the next step can also be done from home; you’ll have to submit some documents and add your checking account information.
- Get your money —Once approved, you could get the funds quickly. Once approved, we’ll send the funds straight to your checking/bank account, which you can use right away!
Some Benefits of Loans With CreditNinja
Our loans can be a great option for emergency funding. Here are some benefits you could look forward to:
- Pay back your loan early without any prepayment penalties.
- Once approved, get the funds sent straight to a checking account; no need to travel anywhere!
- Our customer service team is excellent!
- The CreditNinja site is secure, which may not be the same for other sites.
- If approved for a personal loan with CreditNinja, you could get the funds by the the next business day!*
- We offer convenient loan terms to fit a variety of budgets.
- Our personal loans have competitive interest rates.
- Our loans can be used for a variety of circumstances.
- You don’t need excellent credit to qualify for a personal loan with us.
If you are experiencing a financial hiccup in your life, CreditNinja may be able to help you find a solution. To get started, visit our website and fill out a form. After submitting your application, we’ll inform you about the next steps!
*with the following disclaimer: “Applications approved before 10:30 a.m. CT Monday-Friday are generally funded the same business day. Applications approved after this time are generally funded the next business day. Some applications may require additional verification, in which case the loan, if approved, will be funded the business day after such additional verification is completed.
References:
Homepage | Check Into Cash
Installment Loans | Check Into Cash
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