We’ve all been there. The car has been making weird noises and decides to die right when you leave for work. Maybe your washing machine flooded your home. Or your fridge suddenly stopped working, leaving you with rapidly defrosting food and the urgent need for a repair.
When these situations occur, fixing your machines may be your only option. If you don’t have the cash to pay for the repairs, you may be wondering what you can do.
Short-term loans can be available for these scenarios. If you don’t have enough in savings or just need a quick loan until your next payday. You can apply for the emergency cash you need to pay for the repairs as soon as the need arises.
What qualifies as an emergency?
An emergency is any situation that demands an immediate response. Let’s say your car breaks down unexpectedly. If you have easy access to another means of transportation, such as carpooling with a friend or taking public transit, the breakdown may be a problem and, therefore, not necessarily an emergency. However, if your vehicle is your only option for travel and you need to get to work or to pick up your kids from school, that is an emergency.
Similarly, a broken air conditioner likely isn’t an emergency during the winter but could be one during the summer. If the need is urgent, it qualifies as an emergency.
How can I apply for fast cash?
Short-term loans are designed to allow you to apply for the money you’re looking for quickly, while getting an instant decision on your application.
When these unexpected expenses occur, you can also ask friends or family for cash, or you can pull money from your savings. If those options aren’t available, you can apply for a loan without leaving your home and often receive an immediate answer about your eligibility.1 Find out more about online loans and how you can find the right option here.
The online loans you can apply for at ACE Cash Express are typically available as either payday or installment loans, depending on your location/state:
- Payday loans are a great option if you can’t pay for your emergency repair until your next payday. This emergency cash bridges the gap between the repair and your paycheck. You must pay it back in full by your next payday to avoid late fees or penalties.
- Installment loans have a longer repayment period than payday loans.2 Payments are made in regularly scheduled installments that are roughly equal. If you can’t pay the loan back by your next payday, need to borrow a larger amount, or can’t repay the loan in a single payment, an installment loan may be the right choice for you.
To apply for one of these loans, simply complete an application online or in-store. You will get an immediate answer about your qualification. If approved, you may be able to pick up your loan at your local store or arrange for an overnight direct deposit.3