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!