9 Small Cash Loan Essentials That You Must Know

When you’re in need of an instant small cash loan, you should know from where you can get it, how it works and be clear on the fine print. You may have various reasons as to why you need the cash loan; perhaps, you may need cash to renew your rental bond, an unexpected bill to pay or an emergency situation. Regardless of what your reasons are for want of that extra cash, we have the answers to your questions.

Related post: What Is A Small Loan? and Where Can You Get One?

HERE ARE THE NINE SMALL CASH LOAN ESSENTIALS THAT YOU MUST KNOW:

1. Who is eligible for a quick small cash loan?

• Anyone having a vehicle such as a motorbike, car, truck or any other vehicle that’s in good running condition and maintained well, to put up as collateral against the cash loan is eligible.
• Secondly, he/she must have government-approved photo identification and must have attained 18 years of age to apply for the pawnbroker’s fast cash loan for the short-term.

2. What amount can I borrow in small cash loan?

Cash Fast Loans provide small fast cash loans to suit your requirements better. You can obtain fast cash loans starting from $500, and up to $100,000 depending upon the value of your collateral.

3. Do you carry out credit checks?

No, we don’t carry out any credit checks or background checks. Being a pawnbroker, your vehicle in our custody is your credit. Even if you have a bad credit history or is bankrupt; it won’t hinder you in any way to avail a short-term loan from us. That’s why our no credit check small cash loans are easy to avail.

4. How fast can I get the cash?

When you bring your vehicle to pawn it for a cash loan, our professional will evaluate your vehicle within minutes and provide you with an estimated figure for which you can avail cash loan. Once you agree to the proposal, we will immediately provide you cash after completing the bond and place your vehicle in our safekeeping.

5. Are there options for repaying the loan?

Well, you’ll have two options to repay the loan i.e. (1) Monthly instalments (2) Everything (i.e. loan amount and accumulated interest) at the end of the loan period.

6. Can I extend the loan?

Yes, you can extend the loan by a month by paying off a month’s interest in advance.

7. What about interstate vehicles? Do you facilitate pawning them?

Yes, we consider interstate vehicles – so it does not matter if your vehicle is registered in Victoria, Queensland, Tasmania, or Western or South Australia. However, the vehicle must not be a stolen one. And you must be the owner of the vehicle and possess Rego papers or purchase papers and your vehicle must be free of finance.

8. What are the interest charges and fees to avail a short-term cash loan?

At the time of signing the bond, you’ll be given the full cost of your loan – what you’ll need to repay – the principal amount plus interest. Apart from these, there are no other hidden charges.

9. What will happen if I am unable to pay the loan back? Will my credit be affected?

No, your credit won’t be affected in any way if you’re unable to repay your loan. However, you will lose the possession of your vehicle – that means we’ll own your vehicle in case you fail to repay your loan back. And we’ll sell your vehicle in the open market to obtain the loan amount and interest, as well as, book a small profit so that we’re able to stay in this business.

THE BOTTOM LINE

It’s easy to avail small cash loan from the car pawnbroker and moneylender when you need it the most and urgently. All you need to have is a vehicle that you own, possess purchase or rego papers of it, as well as, you should have attained the age of 18 years or over and have government-approved photo identification. If you want to repossess your pawned vehicle, ensure that you’re in a position to repay the loan and interest as per the agreed schedule before accepting the loan.