online cash advance
The Difference Between Installment Loans and Online cash advances
If youíre looking for a short-term loan, you have a couple of different options. The main types areinstallment loans and online cash advances, which are similar. You can get both types online, through Personal Money Store. Both types of loans will get you quick cash, usually transferred to your bank account in a couple of hours.
There are different advantages to both installment loans and online cash advances, so make sure you get the right type of loan for you. First, letís look at installment loans.
Fast cash and a payment plan
If you need cash fast ó as in TODAY ó but you need more money than you can pay back with your next paycheck, you can get an installment loan. It is a short-term loan, so you should only borrow an amount that you can pay back within the next few weeks. The term of your loan depends on your lender, but you should expect to finish paying off your loan within a couple of months.
You will get the full amount of your loan today, but instead of having to pay back your loan amount and lenderís fees all in one big chunk, like a online cash advance, you can it break up into payments. Here is my advice about installment loans: Schedule your payments for each time you get a paycheck. Make the payments as big as you can while still being able to realistically afford it. But know that once you make a loan agreement, you must stick to it.
Quick cash, short loan terms
If you just need a little bit of cash to help you through the next few days, a online cash advance is perfect. Youíll get your cash quickly, pay it back next time you get a paycheck, and youíre done. You wonít have to think about it again. Itís a one-time expense to help you with an emergency expense when you donít have cash lying around.
Just as with an installment loan, you can apply online, be approved online and have access to your cash in just a couple of hours. However, the plan here is that youíll pay back your loan and your lenderís fees as soon as you get your next paycheck. Itís quick and ó as long as you plan carefully and only borrow within your means ó it can be painless.
Be careful, though. If you canít pay back your full loan amount plus lenderís fees all in one fell swoop ó and on your loan due date ó there can be hefty fines. So, if youíre not sure whether you can afford to pay back your loan all at once, play it safe and go with an installment loan.
The loans are different; the process is the same
Whether you choose an installment loan or a online cash advance, the process is the same. You can apply online, get approved online, make a loan agreement online and get your cash electronically transferred from your lender directly into your bank account.
Either way, you could have access to your cash in as little as two hours. Plus, there are no credit checks and no need to use a phone, fax or anything other than your computer.
Get your online cash advance now
online cash advance