One of the conveniences of a cash loan is the ability to borrow funds without a bank account. Many non-traditional loan options can provide this flexibility throughout the loan process! This flexibility can include allowing you to load your cash loan on a prepaid debit card.
Some of the most known cash loan options are:
- Payday Loans
- Personal Loans
- Title Loans
While all of these loan options may offer the flexibility that can allow you to load your cash loan on a prepaid debit card, not all options are created equal! Each has its pros and cons to consider. As a borrower, it is important to be informed about a loan option before signing the contract. Loans have all sorts of stipulations and nuances, including factors like interest rates and amortization. The more informed you are, the better chance you have of finding the right loan option!
Cash Loan Options That Allow You to Load Your Cash Loan on a Prepaid Debit Card
When you’re facing a financial emergency, you need to get your cash fast! There are cash loans that exist that you can apply for without a bank account. While it is tempting to pick the fastest cash loan option available to you, there are some factors to consider. Not all cash loan options will be financially beneficial in the long run, even if they are in the short term!
Take a look at the pros and cons of the cash loans available that will allow you to load your cash loan on a prepaid debit card:
- Payday Loans: These loans were meant to last borrowers in between pay periods. Typically, these are short-term loans that range from anywhere between $50-$500. Depending on your state, there may be regulations against payday loans, since they are known for having high-interest rates and origination fees. While you will often be able to get your cash the same day you apply for a payday loan, it comes at the price of high- interest rates and fees.
- Personal Loans: Borrowers that are confident with their credit report will often turn to a personal loan for a cash loan option. They can often be obtained from the same place as where you bank at! Or they can also be obtained through credit unions or other online lenders. With a personal loan, they can either be short-term or long-term loans. As long as your credit history is in top shape, a personal loan can be the right option. If you are not as confident with your credit, however, a personal loan can be tough to apply for. Most banks and credit unions offer unsecured personal loans and do not approve candidates with a poor credit history or unestablished credit.
- Title Loans: Title loans are a unique type of collateral-based loan. In exchange for cash, a borrower will use their vehicle’s title as collateral until the loan has been paid in full. Since your car secures the loan, your credit history is not as important during the approval process. Collateral can make the entire loan more flexible and easier to apply for! With a title loan, you can easily load your cash loan on a prepaid debit card.
How Do Title Loans Work?
A car title loan is a fast way to get cash to pay for emergencies or unexpected expenses. Life happens, and it can be hard to plan for uncertain times or financial emergencies. To get a car title loan, you will need to either own your car outright or be close to it.
This is a result of how the loan works. With a title loan, your credit history is not the most important factor in the approval process. Instead, the value of your car and your income will matter the most! You can worry less about your credit score since a loan agent will focus on the equity in your vehicle.
Your eligibility for a title loan and your loan amount is based upon the equity in your car. The more value your car has and the higher your income, the larger your loan amount could be with a title loan!1
Why You Should Consider a Title Loan to Loan Your Cash Loan on a Prepaid Debit Card
The right loan option can help your wallet in the long run! Loan terms like interest rates and length of the loan can impact your lending experience greatly.
With loan options like ChoiceCash Title Loans, a title loan can offer you so much more than just cash. Take a look at some of the benefits you can take advantage of as a borrow of a ChoiceCash Title Loan:
- Payments Start Low, and Can Get Lower2: Not all loan options are created equal! ChoiceCash Title Loans was created with the customer in mind. That’s why customers that simply keep their loan account in good standing and on track can easily earn rewards!2 By making your payments on time and keeping your account in good standing, you may qualify for a rate and payment deduction each month!2
- Keep Driving: Since your car is collateral for the loan, you may wonder what will happen to your vehicle once you sign a loan contract. As long as you keep your loan account in good standing as a responsible borrower, you can keep your keys and your car!1
- A Faster Way to Get Cash1: As a borrower, you can have both a quality loan and a fast one! ChoiceCash Title Loans has streamlined the approval process into just three simple steps for your convenience. Qualified borrowers can get their cash loaded onto a prepaid card in as little as 24 hours!1
What are the Requirements for a Title Loan?
While title loans are very flexible in the approval process, there are a few requirements that a borrower will need to meet before they can be qualified for a title loan. Qualifying for a title loan simply means that you have met the requirements and your vehicle is eligible for a loan!
With a ChoiceCash Title Loan, you can expect to need to meet these requirements before applying:
- Candidates Must be 18 Years of Age or Older
- The Collateral Must Have Value
- The Candidate Must Have Proof of Income or Alternative Income
With just a few requirements for a title loan, it’s clear why borrowers are using this financial tool to get fast cash! The biggest requirement is that your vehicle must be in your name, and it must have value. If you are like most title loan candidates, you may not know what your vehicle is worth off of the top of your head. Loan agents with ChoiceCash Title Loans can estimate your vehicle’s worth and give you a free title loan quote when you submit a loan inquiry online!1
How Can I Spend Cash Loan on a Prepaid Debit Card?
Financial emergencies can happen to anyone, at any time! While your financial emergency may look different than other applicants, there are many ways to spend your cash from a title loan.
ChoiceCash Title Loans can offer some payment options that could allow you to load your cash loan on a prepaid debit card. When you qualify for a cash loan with ChoiceCash Title Loans, there are a few ways you can collect your money:
- A Direct Deposit to Your Bank Account
- A Check in the Mail
- Pick Up Funds at Any Participating Money Transfer Location Near You
All of these methods can be loaded on a prepaid debit card for your convenience! Once you’ve spent your cash and loaded it onto a prepaid debit card, you’ll be able to tackle your financial emergencies head-on.
Can I Apply for a Title Loan Online?
Unlike traditional loans, applying for a title loan online doesn’t need to be a hassle! If you need to load your cash loan on a prepaid debit card, ChoiceCash Title Loans has your back.1
Through ChoiceCash Title Loans, the approval process for a title loan can be just three simple steps:
- Fill out a Short Loan Inquiry Online, or Over the Phone
- Send in a Few Documents to Verify Your Information
- Get Approved and Load your Cash Loan on a Prepaid Debit Card!
If you can get your cash in just 24 hours after you qualify for a loan, why wait to see if you qualify?1 Get started with ChoiceCash Title Loans today by heading over to the website! Or, call a loan agent at 855-422-7402and take advantage of the quality customer service available to you.