Christmas Loans for People with Poor Credit

By Title Loan Adviser • August 8th, 2012

Need Money for Christmas?

If you’ve found yourself making a Christmas list, checking it twice, and being completely shocked by the price, then you are not alone. Christmas can be costly, with one recent report noting that the average American family plans to spend around $700 on gifts this year.

And in a tough economy, giving generously (or even at all) at Christmas has become harder than ever before. You might want to make sure that your kids, spouses, family and friends are happy with their presents, but if you find yourself asking how to raise enough money for Christmas presents, then here are just a few potential solutions:

How to Pay for Christmas Presents

If you need money for Christmas, then start thinking about pursuing one of the strategies presented below. Coming up with Christmas cash may not be easy, but it’s definitely possible if you’re willing to make a few sacrifices along the way. Here are some of the most effective tactics for raising present money:

  1. Sell Some of Your Old Stuff

Try selling some of the stuff you have, but don’t need, on eBay or Craigslist. Remember that one person’s junk is more often than not another person’s treasure. And since everyone is looking to cut their budgets this year, used goods are hotter than ever.

Get money for the things that you’ve got sitting around your house to try and avoid taking more drastic measures, like resorting to taking out a holiday loan. If you aren’t into e-retail, then remember that pawn shops and auto pawn dealers can also provide you with reliable Christmas cash loans, but realize that you’ll have to pay them back with interest.

If you do have things to sell that are at least half-way decent, it’s highly likely that someone on either eBay or Craigslist is going to make you an offer. And if you do end up going the Pawn Shop route, make sure to keep in mind that once you sign on the dotted line it may be the last time you ever see that flat screen TV, guitar or beloved family heirloom you just pawned to pay for Christmas presents.

  1. Consider Christmas Loans

If you are really strapped for cash, but don’t want to compromise by giving subpar gifts this year, consider taking out a short-term Christmas loan. Holiday loans have risen in popularity in recent years, especially as financing rates have come down so much since the great recession officially ended.

As a general rule though, remember that banks are still much tighter about loaning out money than they were a few years ago, and don’t think that they will be willing to sacrifice their standards for you just because it’s Christmas. If you have anything negative on your FICO score, then you may need to look into Christmas loans for poor credit individuals.

Consider contacting a smaller lender who offers short-term, but affordable collateral loans, like a car title loans company.

The benefits of taking out a car title loan are pretty substantial, since the loan provides you with access to emergency cash assistance, but doesn’t require you to sacrifice the use of your vehicle. Similar to pawning other items, a car title loan will require that you pay back the loan (plus interest), but unlike a traditional pawning contract, you won’t have to part with any of your prized possessions to get access to get a cash advance.

When the family comes over for Christmas dinner, they just might notice that your big screen tv or great grandma’s pearl necklace are missing, but if you’ve secured a quality car title loan instead, no one will have any idea how those amazing presents were financed!

Another benefit to working with a car title loans company is that some of them do offer no credit check loans, which you may need to take advantage of, depending on how bad your FICO score is. Taking out a car title loan is simple, easy, and straightforward, unlike traditional loans from banks and other large financial institutions, so if you need some help financing Christmas this year, be sure to consider this reliable option.

  1. Consider a Holiday-Season Job

Even though the economy continues to grind along slowly, there are more than a few holiday hiring sprees going on during the Holidays, and this year is no exception to that rule. Many well known stores are hiring seasonal workers for the holiday rush, so if you’re interested in trading more time for money, and you don’t mind missing some of the festivities, then you do have a great chance at finding some additional work.

If you already have some shop floor experience, you will likely be able to find a position far more easily, and you could even stand to make some pretty decent money even with just temporary employment. Just be aware that you will likely be expected to work considerably longer or stranger hours than usual so that stores can remain open while people are shopping for their last second gifts, which could be a stressful experience.

If you’ve got plenty of time though, and if you don’t mind working some difficult hours, then think about racking up the Christmas cash you need to help make it through those holiday wish lists.

  1. Take Out Another Credit Card

Credit cards won’t get you access to cash, but you can use them to borrow credit to pay for your planned Christmas expenditures. Credit card companies are notorious for giving out more credit than they should to the general public though, as they want you to be on the hook for late fees and extra payments, so be sure to treat them warily.

Credit cards can be used pretty effectively as a type of short term installment loan, but you’ll want to pay these loans off as quickly as possible to avoid the relatively high interest rates burying you in a mountain of debt. Over-leveraging yourself is one of the worst ways to finance purchases like Christmas gifts, so unless you just absolutely have to get those presents for your children, friends or family, you should probably keep this idea on the back-burner.

  1. Sell Your Body

We don’t mean to start hanging out on a street corner, but if you really want to make some cash quickly and you aren’t interested in taking out a Christmas cash loan, then you may want to consider selling blood or signing up for experimental medical treatments.

It’s not legal to sell organs, but you can make some extremely quick money by selling blood and participating in experimental procedures. The trouble is, you can’t raise all that much cash via this route in a short time frame, so this tactic would only work for financing small gifts like stocking stuffers.

If needles make you queasy, or if you’re not interested in becoming a human guinea pig, then your best bet might be to attempt one of the other suggestions presented in this article. You may need some extra funds for this Christmas, but let’s be honest – how important are those presents after all?

Coming Up With the Cash

As you can see, you don’t have to skip out on purchasing fantastic Christmas presents this year because there are plenty of ways to come up with some fast cash. From taking out a holiday loan to getting a graveyard shift, you should be able to come up with the funds you need to make it through Christmas. Remember to read the fine print, plan for the future, and spend within reasonable limits, and you’ll be well on your way to celebrating the happiest holiday season yet.

From all of us at Car Capital Financial, Happy Holidays!

 

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