Almost everyone experiences at least one financial crisis when they are short in cash, and desperately need it. But whether you’re facing expensive car repairs, medical bills, home ownership costs or some other financial shortfall, is a no fax cash advance the best way to raise emergency money quickly?
If you’ve got problems with your credit score due to bankruptcy, vehicle repossessions or even a foreclosure, you might not be able to qualify for more traditional lending methods like home loans, and are likely considering a faxless cash advance since you’ve heard that it’s the best option for getting a no credit check loan, but that’s not entirely true.
Car Capital Financial can help you out of your financial dilemma with another form of loan for people with poor credit, called a car title loan. As long as you have a fully or nearly paid off vehicle, we can get you the cash you need in as little as 30 minutes, without you having to sacrifice use of or access to your vehicle. For more details, call us now at 1-888-500-9887!
What Are No Cash Fax Advances?
No cash fax advances are cash advances that don’t require you to fax any kind of document in order to receive your funds. This term is also sometimes used as another name for paperless cash advances, which are most commonly cash advances you can request and receive exclusively online.
A cash advance is pretty similar to a neighborhood loan, in that they are short term loans in an amount about the same as your next expected paycheck, though they can also be gotten for smaller amounts as well. Typically, the borrowed balance of a cash advance with no faxing required must be paid back within 30 days, along with various other fees associated with procuring the advance, including any accumulated interest on the loan.
Who Gets Faxless Cash Advance Loans?
People take out these types of loans for different reasons, but they are typically used to cover unforeseen major expenses and financial emergencies. Typical reasons for taking out a cash advance include:
- Making a mortgage payment to avoid foreclosure
- Paying for car repairs or expensive maintenance that was not expected
- Paying for damages to a home due to flood, fire, earthquake or other natural disasters
- Paying for expensive and especially unforeseen medical bills
- Paying for a deposit on a house or for a down payment on some other large purchase (car, etc.)
Problems with Getting a No Fax Cash Advance
Although a faxless cash advance can get you the money you need to cover your emergency very quickly, there are ultimately some serious problems associated with this type of loan.
First, a cash advances usually require repayments within a very tiny time-frame, often as little as 30 days, which for many people is impossible. If you don’t repay them in time, you’re then saddled with astronomical penalties, hidden fees and skyrocketing interest rates, which is a huge revenue generator for companies offering cash advances. They want you to fail!
Secondly, even if you can pay back the loan within the allotted time-frame, you may still be surprised at your final bill, as many faxless cash advances come with hidden fees.
While the cash advance will get you the money you need quickly, these downsides make them far more expensive than they first seem, and can lead to long-term financial problems even larger than the short-term liquidity problems they were supposed to solve in the first place.
Why Car Title Loans are a Safer Option
If you need money now, then you should consider a car title loan rather than a cash advance. While it’s true that neither is perfect, car title loans are safer and more reliable.
Title loans are a better option because:
- You Will Have Longer to Pay Back Your Loan – Most title loan companies will give you many months, in some cases even many years, to repay your loan in full, making monthly payments far smaller and easier to keep up with. This reduces your chances of being hit with penalties and other fines for missing payments.
- You Won’t Be Hit With Hidden Fees – Not all title loan companies are created equally, but some won’t charge you hidden fees or other nickel and dime type costs that can add up quickly, which cash advance companies and neighborhood loan centers are notorious for doing. With a title loan, you’re more likely to know exactly what you’ll owe up front.
- You Can Borrow More Money – Many no fax cash advance companies will only lend you the amount of your next paycheck, which may not be enough to pay for your financial emergency. However, a title loan company will lend up to the entire cash value of your car, which could amount to thousands of dollars, and which could easily help you cover what you so desperately need the money for.
- You Don’t Have to Sacrifice Use of Your Vehicle – The magic of car title loans is that you can get the cash you need without having to give up using your vehicle throughout the course of your loan. Some title loan companies will simply take possession of your pink slip, slap a GPS on your ride to make sure you don’t drive off to Mexico or Canda with it, and leave you be as long as you continue to make monthly repayments on your loan.
- Your Interest Rate Won’t Be As High – In many cases, interest rates on title loans are far lower than those on no fax payday cash advances, since the nature of the loans is safer for the lender. When you offer up your car as collateral for a personal loan, the lender knows that he can get his money back by repossessing your vehicle if you default on the loan, so he doesn’t have to charge you as much money to borrow cash as the neighborhood loan center does, who hasn’t done anything to secure their loan with valuable collateral.
Choose Car Capital Financial
If you need money now, it’s time to call Car Capital Financial. You’ll be choosing a safer, more reliable and affordable way to borrow money, without having to sacrifice any of the convenience of a no fax cash advance. Title loans are issued based on your ability to repay the loan.
Car Capital Financial has provided emergency money assistance to clients throughout Southern California for 15 years, and we’re ready to help you with your liquidity crisis right now. Call us today to get the cash you need in as little as 30 minutes!