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Are you considering a payday loan from one of the giants like CashMoney? While it may seem quick and easy, you may not have considered that our pawn loans may actually be a much better option when you need a quick dollar. Today, our experts share 7 reasons why our pawn loans are better than payday loans like CashMoney.
Why Pawn Loans are Better than Payday Loans like CashMoney
1. Fast Cash
Have you ever tried getting a loan from a bank?
By the time you book an appointment, provide all of your financial records and go through all of the checks and balances a bank requires, you can count on having to wait a good 2 to 4 weeks.
If you need money, and you need it now, our Pawn Loans are the perfect solution.
Simply bring your valuable item in to our Edmonton pawn shop and walk out with cold, hard cash within 15 minutes.
2. No Credit Checks
Credit score not-so-great? Chin up, friend.
At Loan Star, we do not perform a credit check and, in fact, don’t consider your credit score at all when it comes to our instant Pawn Loans.
3. No Wage Garnishment
Have you ever taken out a loan, only to be unable to pay it back right away?
When a loan isn’t paid back, many lenders will resort to garnishing your wages, which means they can actually get an order that forces your employer to withhold part of your earnings, and give it directly to the business that holds your debt.
At Loan Star, this isn’t the case. If worse comes to worse, we simply keep your valuable item and sell it to make up for the amount of the loan.
4. Loans of All Sizes
Big or small, we’ve got ’em all. Our loans start at $10 and range all the way up to $20,000. Whether you are in a tight pinch, or need a larger sum of money, our Instant Loans are very flexible.
5. We Pay in Cash
While many other lenders including payday lenders like CashMoney dole out the dough on pre-paid cards, at Loan Star, we pay your loan out in cash, right away.
Gone are the limitations of yesterday!
6. We Cost Less
Considering a payday loan?
Stop right there!
Did you know our loans are easier, faster and cheaper than payday loans?
Our typical 30 day + 7 day grace period Instant Loans have a much lower interest rate than the alternative, and simply end up costing you less.
7. We Won’t Sue You
Loan lovers, beware. Did you know that depending on the lender, if you default on your loan or are unable to pay it back, you could end up with a lawsuit on your hands?
Not so at Loan Star.
If you can’t pay your loan back, we just keep the item you provided as collateral.
It’s really that easy!
Your Trusted Edmonton Pawn Loans
Each new year we are presented with the challenge of starting over again – and doing it right. For some that means retackling their fitness goals, for others it means reigning in their finances or getting on top of debt – it’s different for everyone. If you are one of those with the goals of reducing your spending, saving more and having more to put toward debt, these tips are for you.
1. Stop Buying New
This is the most obvious and easiest change you can make. One of the only things worth buy new is a vehicle, simply so you don’t have to deal with someone else’s problems (and for warranty reasons). Other than that, you really should be considering purchasing most of your good used. From furniture, to jewelry, clothing and even hobby items…you can find fantastic items in excellent shape. Get thrifty. Whether you choose to root through the racks at thrift stores, shop online classifieds or check out your local pawn shop, there are many great deal out there to be had for great quality, used goods.
2. Budget and Plan
Even without buy things new, it’s easy to get carried away with your spending. When you do head out in search of an item, whether it’s a pair of jeans, artwork, or classic vinyl, set a budget. Know in advance what you need, what you are willing to spend on that used item and stick to your budget. This is also a good plan of attack if you prefer to shop for brand new items. Always plan ahead and always set a budget limit.
3. Speak to Your Bank
There are some really great banking programs available to help you save. A “bank the rest” setup will round up whatever you spend via debit to the nearest dollar (or $10 – whatever you want!), and transfer it to your savings account. So, if your spend $22.55 at the grocery store, $.45 will get transferred into your savings. This may not seem like much, but when you are running errands (groceries, fetching coffee, gassing up your vehicle, shopping, buying lunch) these few cents, per purchase, can add up to a significant amount of money added to your savings account daily. If you set your account to round up to the nearest $5 or $10 mark, it can be a whole lot more. That same $22.55 could equate to $7.45 transferred to savings for just one purchase. It’s an easy, think-free way to save. The key is locking out your savings account so you can’t access it via your bank card.
4. Cash Only
With all our online banking, credit cards and plastic money, it’s become so much easier to lose sight of our daily finances. One surefire way to take control again is to carry cash on you, and only cash. When you go shopping, if your budget for an item is $60, only carry that $60 on you and leave the bank card and credit cards at home. It’s a great way to re-learn how to shop effectively, how to spend your money efficiently, and encourages you to seek out deals.