The wait between filing your taxes and receiving your tax return can feel endless. This return plays a major financial role for many Americans. After being with family and going through the holiday season, spending can be at an all-time high, leaving you in a financial bind until the tax return comes. Americans will need some form of income between the holiday season and mid-February, so what can you do? Here’s how you can get cash while awaiting your tax return. 

Financial Options

Now comes the time to decide what path to take in order to get more money. There are several options when it comes to taking out a loan. Which loan is the best for you when you need cash while awaiting your tax return? Let’s break each option down.

Title Loans

This loan is when you offer your vehicle as collateral on a loan. This can only be done if you own the vehicle and the title is in your name. Title loans come with high-interest rates attached to them but they won’t be any higher than the average payday loan. This is a risky play since you could end up losing your vehicle if you’re not careful. 

Payday Loans

A payday loan is simple and a quick way to get extra cash in your hands. This is typically short-term cash as it’s given in exchange for your future paycheck. The limit will be similar to what you see in your paycheck. This can become a nightmare for some when the loan terms aren’t met. Low-income earners will often be forced to borrow repeatedly in order to pay back the interest for each paycheck that comes in. This can put you in a repeating loop until your tax return comes in. 

Bank Loans

Banke loans come with a number of limits. These limitations control how much you can receive and when you can receive it. You may not even qualify for a bank loan depending on your credit. If you cannot pay the loan back, you will “default” on your loan. This means late penalties, late fees, and interest charges. Taking out this type of loan can have a big blowback on your future if you’re not careful. 

These options above are all options available to you, but we saved the best option for last. Unlike the loans above that can be damaging to your credit and future, a pawn loan can be your best friend when you need cash while awaiting your tax return. 

Your Answer: A Pawn Loan

Pawnshops will often get a bad image due to the different misconceptions attached to them. Pawnshops are great for Americans and are highly regulated by state law. Here’s why a pawn loan is your new best friend.

Pawn Loans

Pawn loans are carried out by placing an item down as collateral for your loan. Instead of something vital, like a car, a pawn loan item can be just about anything. Have an old gun you dont use? Pawn loan. Old gaming console or technology? Pawn loan. Guitar or other instruments? Pawn loan. You get the point. No matter the item, once your financial stability improves, you can get the item back. 

Pawnshop loans are generally short-term, being 30-90 days long. This should give you ample time to get your item back once your tax return finally comes in. Once you pay off the loan with a small amount of interest, you’re all good.

This loan is preferred above the others since this type of loan can’t damage your credit or send you into an endless cycle of debt. The worst that can happen is that you lose the item you put up as collateral. This is your solution if you need cash while awaiting your tax return. Pawn loans will get you safe money in your hands and you’ll get it quicker than with a traditional loan. Walk-in with our item and walk out with cash in a matter of hours. 

Need Cash While Awaiting Your Tax Return? Go With a Pawn Loan

Pawn loans are an ideal solution for those needing cash while awaiting their tax return. If you need cash while waiting for your tax return, come to A to Z Gun and Pawn for an estimate on anything you bring in. We can also value your item online by visiting our contact page. We’re happy to help those in a financial bind.