Do you need a lot of cash quickly?
You are not alone. Most Americans are living paycheck to paycheck, and many cannot handle an emergency like a car breaking down or a medical expense.
If you find yourself in this position and you need cash right away, where will you go? You have options in the form of installment loans. One lender that can improve an installment loan quickly is Speedy Cash.
Would you like to know more? Read this Speedy Cash review and find out how you can get an installment loan.
Speedy Cash Review: Installment Loans
Speedy Cash is a 20-year-old company that built its reputation primarily on offering payday loans. The company has expanded its offerings to include installment loans.
Installment loans differ from payday loans in that you have more time to pay them off and you can usually borrow more money.
With payday loans, you can usually borrow up to $500 and you have to pay the loan back in between one week and one month. That depends on how often you get paid.
You can get an installment loan from Speedy Cash for as much as $6,000. You have more time to pay the loan back and you pay in monthly installment payments.
Unlike most banks, however, Speedy Cash can get the cash to you faster.
The Application Process
Speedy Cash has an easy application process. Similar to payday loans, you must meet their minimum requirements.
Applicants must be over 18 years old, have a bank account, prove your income, and have a telephone number. They will also pull your credit report. They will then determine how much you can take out and what the fees will be.
The great thing about working with Speedy Cash is that you can take out an installment loan and get the money almost immediately.
With an installment loan from a traditional bank, you must fill out a lengthy application, provide a lot more documentation, and wait to get approved. You then have to wait more time to get the funds into your bank account.
Read the Fine Print
This Speedy Cash review wouldn’t be complete without talking about the APR of the loans. The ability to get cash fast comes at a high price in the form of high-interest rates. This is the one thing that you need to read before signing on for the loan.
You might take out $2,600 and commit to a $240 monthly payment for the next 41 months. What you don’t realize is that $2,600 is really costing you more than $11,000 when it’s all paid off.
You need to decide if it’s worth the extra cash or not. It might be in your best interest to take your time and shop around for an installment loan to see if you can get a better interest rate, even if you have bad credit.
Speedy Cash Installment Loans
Speedy Cash installment loans can be a good thing if you need money in a hurry. This Speedy Cash review found that they make it very easy to get emergency cash fast with extended payment terms.
On the downside, the loans come at high-interest rates. You want to read the fine print and understand how much you’re really paying back in your installment loans.
Would you like to read more great financial tips? Look at this article to find out how you can get an installment loan the next day.
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