Sometimes, you will find yourself needing some extra money, whether it is because your washing machine has broken or your car has broken down and needs a repair.
A little bit of extra money would help you out of that situation. If you find yourself in this situation and are short on cash, there are things you can do to help with the repairs.
Short Term Loan
One of the easiest ways to get a little bit of cash at short notice, even with a credit score that needs work, is to apply for a same-day loan. You may know this more as a payday loan; this type of loan can be transferred to your bank within hours of approval, and all of this can be done online.
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Whether you just need a few hundred pounds to get you that new washing machine or you need a few thousand pounds to get a new car, this can all be applied for by visiting a website like https://www.my-quickloan.co.uk/same-day-loans.html.
Unlike other loan types, where you may have to wait for a decision from your bank, you will find out instantly if you can borrow the money. Some same-day loan companies use a credit broker like https://www.my-quickloan.co.uk/same-day-loans.html to give loans.
Credit brokers will match you with the best loan company for your needs, helping you find a loan that suits what you need and will give you the money quickly.
It is important that when taking out these types of loans, you read the terms and conditions and ensure that you pay as agreed. Check the interest rates and other options and ensure that the amount you are borrowing is affordable for you to pay back.
Long Term Loan
Most long-term loans will be through your bank; you will have to make an appointment to discuss what you need and find out if you will be approved. Unlike with same-day loans, you will have to explain why you want the loan and have a neutral to good credit score, as few banks will loan money to someone with poor credit.
A long-term loan can be a fantastic option if you have time to book an appointment and have a good credit score; however, it is not for everyone.
Government Funding
If you are in receipt of some kind of benefit or have a low income, you may be eligible for a grant from the government depending on the issues you are having. Some local authorities and the government will help provide white goods for people on low income, so if this is the issue you have had, it may be worth contacting your local councilor or government official for advice.
Summary
Having things starting to go wrong and needing to repair or replace things that you did not expect to have to pay for can be frustrating and stressful. However, there are always options to help you when you are struggling financially.
It is always important to ensure that you can afford the repayments and that you are aware of how much you will be paying back for the amount you have borrowed.
