Sometimes, people need to come up with cash really quickly. Financial emergencies happen, and not everyone has a padded savings account to see them through the catastrophe. Or it may just be you have come across an incredible deal or investment opportunity, only you lack the funds to take advantage of the prospect. Here are four ways you can come up with some cold hard cash fast.
Get A Bank Loan
If you own your vehicle or another piece of property outright, and you have a working relationship with a local bank, go talk to a loan officer. They can often spot you a few thousand dollars with little hassle to you. Just be sure to understand the repayment terms and what would happen should you default.
If you don't qualify for a bank loan, you can apply for a car title loan. The interest will be considerably higher, as will the risk, but as long as you feel confident you will be able to quickly satisfy the terms of the loan, the downsides may be worth it you depending on why you need the loan to begin with.
Get A Payday Loan
If you have a good employment history and a job, you may qualify for a payday loan. These short-term loans allow you to borrow a certain percentage of your take-home pay. Like car title loans, they do have a high interest rates, but when opportunity or misfortune knocks, that doesn't always matter.
Used Book Stores
You likely won't make a fortune, but if you are an avid reader and don't need a lot of money or are in one of those situations where every penny counts, it's a good option. Many times, a used book store will give 25 percent of the cover price, allowing them to turn around and sell it to their customers for half-price. Be sure to call ahead though as some book stores only give credit.
Get A Jewelry Loan
If you have gold jewelry, a valuable diamond, or other gems, a jewelry loan is probably your best option. With a jewelry loan, you don't have to worry about default and ruining your credit like you would with a bank loan. You also don't have to worry about losing your vehicle or home, both considerably more important in the grand scheme of things than a gold chain, diamond ring, or an expensive watch. A jewelry shop or pawn shop is also a lot simpler than the other kinds of loans that require paperwork, documents, and references. A jewelry loan is fast and easy.