Getting Extra Cash to Use However You Need

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Sometimes, all you need is a little extra cash to handle life’s unexpected expenses. Whether you’re worried about old debts going to collections, repairing your vehicle, or buying school supplies, an installment loan can help. These loans tend to be for smaller amounts, though they are sufficient to help with any emergency expenses you might have and you’ll have the time you need to repay them. Read below to learn more about these loans and how you could use them.

How to Get Extra Cash

Extra cash may be needed for a variety of reasons, but it doesn’t just appear out of nowhere. Traditionally, larger loans have been the only option. This isn’t ideal when someone only needs two to three thousand dollars to handle the emergency, as they likely won’t be approved and they’ll pay interest on more money than they needed to borrow. Instead, there are now lenders who offer small installment loans, like With a small installment loan, only the money that’s needed is borrowed, there is still an extended amount of time to repay the loan, and it’s easier to be approved.

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Pay Off Debts

One of the ways to use an installment loan is a form of debt consolidation. If you have a few credit cards with high-interest rates, an installment loan can provide the money needed to fully repay the credit cards and stop paying the interest. The interest on the installment loan may be lower, so as long as it’s paid off promptly, you could pay off the credit cards and save money. Installment loans can be used for paying off other types of debt as well, such as medical bills, to keep them from going to collections.

Stop Collection Calls

If an older debt has already gone to collections, the regular phone calls and letters can quickly become overwhelming. The money needs to be paid, but you may not have funds on hand to repay in full right now. Instead of pushing it back further and further, an installment loan can give you the chance to pay it off and stop the collection calls. Once the debt is repaid, your credit score will improve as well, giving you access to better credit opportunities in the future.

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Purchase New Appliances

The fridge doesn’t stop working when it’s convenient. Your washing machine won’t wait until you have the money to replace it. When major appliances in the home stop working, they need to be replaced right away. One of the biggest limits when choosing an appliance is likely your budget. If you don’t have money saved aside, or you haven’t saved enough yet, an installment loan could give you the funds needed to get the appliance you want. You won’t need to go without a fridge, washing machine, or other appliances for weeks while you save up or wait for a sale. It can be ordered today and delivered to your home fast, then you can take time to pay off the loan.

Pay for Home Repairs

It’s tough to handle home repairs when they happen, but the issue is only going to get worse the longer you wait. Whether it’s a broken window, a plumbing problem, or an electrical problem, it needs to be tackled as soon as possible. If there isn’t enough money right now to handle it, an installment loan can help. You’ll be able to get the money you need right away, allowing you to have the repair done fast. If you’re already at the top of your budget for a renovation, but discover a hidden problem, the loan can be used to handle that problem so you don’t end up going over your budget.

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Handle Vehicle Repairs

Vehicles are something else that seems to always break down at the worst moment. New tires, dealing with the check engine light, or handling any other problems will the vehicle can quickly get expensive. Yet, you can’t wait to get it fixed because you rely on the vehicle to get to work, to school, and to get groceries. With an installment loan, you can take care of any vehicle repairs that are needed, then pay off the loan over time. Instead of spending a ton of money you might not have right now to fix the vehicle, you can spend a little each month until the loan is repaid.

Buy School Supplies

School supplies add up fast and lately, they’re a lot more expensive than they used to be. Buying crayons, a calculator, and other basic supplies aren’t hard, but if the student needs a new computer, a printer, or other expensive supplies, it can be a lot harder to cover everything. With an installment loan, you’ll have the cash right away that can be spent on choosing the right computer or picking up any other supplies the student might need before the new school year begins.

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Building Credit

Sometimes, getting a loan isn’t about what you’ll spend the money on. You may want to get a small loan you can use to build credit. Building credit is done by getting money, from a loan, credit card, or another type of financing, and paying everything off on time. A small installment loan can show you know how to pay off debt properly, you won’t miss payments, and you’ll be careful with the money, which can help boost your credit scores so you can get the financing you need for something larger, like a car or a home, in the future. When getting an installment loan for this purpose, be careful to make sure every payment is on time and in full.

Do you need a little extra cash? If you’ve experienced an emergency and need cash to get by, an installment loan might be a great option. It’s a smaller amount of money, so you’re more likely to be approved and it’ll be easier to pay off over time. Look into the options available today to find the right installment loan and get the cash you need.