There can be a number of expenses involved in starting a new job. Everything from clothes, transportation, bridging the gap between paychecks and a temporary lack of healthcare can quickly eat into your savings. If you haven’t had your first paycheck, you might think you’re out of luck when it comes to getting a loan, but that might not be the case.
How Can I Get a Loan When I’ve Just Started a New Job?
Just because you’ve got a brand new job, it doesn’t necessarily mean your financial problems are over. Even if you’re earning more than before, many people find it a struggle to bridge the gap between the final paycheck of their last job and the first paycheck of their new job.
Additionally, as a new employee, you may not be eligible to immediately receive healthcare and other benefits, leaving you with a potential financial pitfall if you fall sick.
You might find it hard to get a loan if you haven’t received any paychecks from your new job yet. The rules will vary from lender to lender, but the good news is that some may be willing to offer you a loan if your employment can be verified.
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What does that entail? Usually, a lender will allow you to submit a letter from your employer confirming your salary. It’s a good idea to make sure it states how much you’ll be paid, how frequently, and that it’s printed on company stationery and includes the contact information of the HR or payroll representative.
If you need your money quickly, your lender might also be willing to call your employer directly. Instead of having to wait for your employer to write and print the letter (and then have you send the letter to your lender) the lender could get the information they need in minutes.
What if you’re self-employed? Again, this will vary by lender, but most are willing to accept bank statements or tax returns as proof of income. Similarly, even if you’re out of work, you could still be approved by providing a government award letter.
Talk to your lender about your situation and they’ll explain how they can help.
Where Can I Get an Auto Title Loan if I’ve Recently Started a New Job?
With so many lenders to choose from, it’s hard to know which one is best. Who works with borrowers who have recently started a new job? Who offers the most money and at the best rates?
You could call around numerous companies or spend your time applying online, but it can be a frustrating experience if you’re not able to borrow the money you need. Fortunately, there’s one option that not only works with all kinds of borrowers (in a variety of income and employment situations) but can also get you the money you need in 24 hours or less.1
A ChoiceCash Auto Title Loan, serviced by LoanMart, has helped thousands of people, all of whom have been able to enjoy the following benefits:
- More money in your pocket1
- Better rates2
- Three years to pay, if needed
- No prepayment penalties1
These aren’t the only advantages to a ChoiceCash Auto Title Loan. With other loans, the benefits disappear with the money, but with a ChoiceCash Auto Title Loan, serviced by LoanMart, borrowers can continue to save money – even as they’re making their payments.1
What Are the Benefits of a ChoiceCash Auto Title Loan?
Most loans are designed so that you borrow the money you need and then make regular, monthly payments until the loan is repaid. While this is fine in principle, there’s one major disadvantage for borrowers: once the money has gone, you’re left with the repayments.
If, for example, you have a loan for four years, it could take 48 monthly payments to repay the loan. In the meantime, there are no additional benefits to be enjoyed.
With a ChoiceCash Auto Title Loan, you can enjoy cash back every month when you make your monthly payments on time.2 It works by reducing your annual interest rate and, as a result, your payments go down.2 And not just for that month; continue to make your payments on time and your payments will go down even further every month. 2
Over the lifetime of your loan, you could see your payments drop by nearly half. 2 More than this, you can use the money for anything you need – whether it’s groceries, bills or putting some money aside, you’re free to do what you please with it.
Another way is by giving borrowers the chance to get more money in the future. If you ever find yourself needing emergency funds again, you can potentially borrow more. 1 The best part is that you won’t need to start over with your interest rate – your new loan starts at the same low rate you’ve worked hard to achieve and continues to go down with each on-time payment. 2
Looking to pay off the loan early? There are no prepayment penalties, so you’re free to pay off the loan anytime you choose. 2
How Can I Apply for a ChoiceCash Auto Title Loan?
To get started, visit www.choicecash.com or simply call (855) 914 2945 toll-free. You only need to answer a few basic questions about yourself and your car and you’ll find out in minutes if you’re pre-approved.1
Your loan specialist will then let you know what documents you’ll need to submit. If you’ve just started a new job, you can send in a letter confirming your employment or the loan specialist can call your employer to verify your pay.
You’ll also need to submit:
- Proof of Residency – mail with your name and physical address
- Vehicle Photos – front, back and sides plus the odometer and VIN
- Vehicle Title – the vehicle must be in your name
- Photo ID – must be government issued, such as a driver’s license
- References – either personal or professional
Once you’ve signed your agreement, it only remains for you to get your money. The whole process can be completed in hours and from the comfort of your own home. 1 There’s no in-store visits or on-site inspections required either.
Even if you’ve recently started a new job (or even lost your job) as long as you can prove you’re receiving a regular income, a ChoiceCash Auto Title Loan may be able to help you out. Don’t wait for your first paycheck; call (855) 914 2945 toll-free or visit www.choicecash.com to get started today!