Holiday and Christmas Loans
The holiday season can be expensive. That’s where holiday loans come in. With a holiday loan, you can cover essential expenses when you’re short on cash around the holidays. Here’s what you need to know about Christmas loans.
How do holiday loans work?
Holiday loans are personal loans that can get you cash when you need it. Then, you’ll pay the loan back plus interest and fees over a predetermined period of time. You can use a holiday loan to pay for essential expenses like your mortgage, rent, and utilities or unexpected costs such as car repairs and medical bills.
4 loans for Christmas
There are several types of Christmas loans you can choose from, including:
Payday loans are short-term, small dollar loans that you can repay when you receive your next paycheck, usually within two to four weeks. These loans can be a good option if you need fast cash to cover expenses during the holidays and can’t wait until you get paid.
With installment loans, you can get a set amount of money at once. You’ll repay this loan over time (anywhere from a few months to several years) via fixed monthly payments, or installments. An installment loan may make sense if you need a large sum of cash to pay for your expenses during the holiday months.
Car title loans use your car as collateral. Upon approval, the lender will give you a lump sum of cash in exchange for your vehicle title. You can continue to drive your car as you repay your loan. If you own your car and need some money to hold you over during the holidays, a title loan is worth considering.
Lines of credit
Lines of credit are similar to credit cards but typically have lower interest rates. You can borrow as much or as little as you’d like up to a set credit limit and will only pay interest on the amount you borrow. If you’re unsure of exactly how much cash you need for the holidays, these loans can be a good option.
How to apply for a holiday loan
To get a holiday or Christmas loan, follow these steps.
1. Compare lenders
Not all lenders that offer holiday loans are the same. Shop around and find lenders that offer them. Compare the interest rates, terms, fees, and special perks of each. Consider customer reviews and ratings before selecting a lender.
2. Choose a loan option
Once you compare lenders, choose the best Christmas loan for your budget and unique needs. Make sure you read the fine print carefully and ask the lender if you’re unclear about anything in your loan agreement.
3. Fill out and submit your application
Fill out the application online or in-person. To do so, you’ll likely need to provide some basic personal details like your name and address. You may also have to share your employment history and income.
4. Wait for approval
Some lenders offer instant approvals, so you may find out if you’re approved right after you apply. Other lenders may approve you within hours or a few business days.
5. Receive your funds
Wait for the lender to distribute your funds, often via direct deposit. You probably won’t have to wait long as most holiday loans offer fast funding. In many cases, you’ll get your money within a few days, 24 hours, or even the same day you apply.
Is a Christmas loan right for me?
If you feel strapped financially during the holiday season, a Christmas loan can be the way to go. It can help you pay for essential expenses or cover the cost of unexpected emergencies. With a holiday loan, you can enjoy the holidays without having to worry about finances.
Get an Advance America loan for the holidays
Advance America offers a variety of loans that can get you some extra cash during the holidays if you need it. These include payday loans, installment loans, title loans, and lines of credit. You may apply online and get your money quickly, sometimes the same day you apply. Visit Advance America today to learn more about the loans we offer.