Now that we are fully into the swing of the summertime, people are going to be looking forward to not only their summer holidays, but also assessing how they are going to be available to afford things at Christmas. Thankfully there are a range of alternative methods you can use in which to raise finance quickly and easily.
1) Selling your gold. The cost of gold in recent months has soared. For a quick comparison, if you had sold an ounce of gold in the middle of July compared to selling an ounce of gold at the beginning of January, you would have made an addition £264 selling in July. It is the case that the quality of the gold that you have will dictate the price you receive for it. However, if it is the case that the jewellery you own is now broken or tarnished, it can be easily sold in order to make some money. It is always recommended that you shop around before selling your gold. Some people might be tempted to settle for the first offer of a company that specialises in buying gold although it is not uncommon for a pawn shop or jewellers that buy gold might actually give you a better offer so in this instance it would be prudent to do your homework before selling your gold.
2) Interest free credit cards. For those that need to have emergency work carried out or are needing things around the home then an interest free credit card might be the way forward. These normally have a fixed period of interest free spending which can range from anywhere between six months to two years. One thing to watch out for with these cards though is that they all involve you undergoing a credit check. If you already have a subpar credit rating then applying for a few of these can lead to a further reduction in your credit score which could hamper your chances of getting credit in the future. Also, if it is the case that your credit rating is subpar, you may still be offered a period of interest free credit, but it is reduced compared to what was shown on the offer when you first enquired about it. Many people wrongly assume that they’ve received the full period of interest free credit when they’ve actually got a lesser period in which purchases are interest free. The end result of this is that you could end up being stung with a hefty interest bill since these cards usually have an APR in the region of 40% after the interest free period is over.
3) Using logbook loans. These types of loans are an ideal way to secure funds in a short period of time. As the name suggests, this involves the logbook on your car. This means that you effectively pass ownership of the car over to the logbook loan company in the event that you are unable to pay the loan back. The amount of the loan that you can secure is dependent on the value of your car. These loans are normally up to £50,000 in value. One thing to note is that you need to own the car in its entirety. You are unable to secure this form of loan if you are still making car payments on the car since at this point on time you technically do not own it. Linked to this is the fact that you need to be the registered keeper of the vehicle in order to secure this type of finance. However providing that you own the car, this can be an ideal way to raise the funds that you need.
Whilst there are other ways in which you can secure the finance that you need, these are some of the more popular alternative options and used by many to get their desired funds within a short time frame.