Alternative To Cash Advances Cash For Car Ajax Ontario

Face Financial Setbacks With Auto Loan Toronto Ontario
February 5, 2023
Reasons Why Fast Cash Windsor Ontario is Best for Business
February 17, 2023

Sometimes, it becomes challenging to pay your bills or purchase your necessities because of unexpected circumstances like a job loss or emergencies. If this happens, the temptation is great to use your credit cards to take cash advances to augment the needed cash. However, the convenience that it provides comes with a high price. The interest rate for credit card advances is very high. Thus it is wise to find a cheaper alternative, like cash for car Ajax Ontario.

Alternatives To Credit Cash Advances

  • Loans from family or friends. One of the best options to get the money you need is to borrow from friends or family. In most cases, they will not charge you with interest. However, this option is dependent on their availability of money. They might be willing but don’t have the amount you want.
  • Collateral loans. A car collateral loan is your perfect choice if you want convenience and fast funding. You can borrow a more significant amount based on the value of your car, while cash advances are limited. Credit card cash advance is only a percentage of your credit card limit. 

Things To Consider With Credit Card Cash Advances

  • Credit card cash advances have different interest rates than credit card purchases. Cash advances have higher interest rates compared to regular purchases.
  • There is no grace period for cash advances; the interest starts to accrue immediately.
  • Aside from the interest, there is a fee that you have to pay that is a flat rate or a percentage of the amount you borrowed.

While your need for cash may be urgent, it is better to consider other options to save on interest costs. It will cost you less if you use your car to get a loan rather than a credit card cash advance.

Why take a credit card cash advance when you can get instant cash with Premier Loans Canada? Borrow as much as $100,000 at flexible payment terms with no prepayment penalties. Visit our website, apply online, or call us at our toll-free number at 1-855-965-1650

For more information, follow us on: