Sometimes life throws expensive surprises. To cover them, you’ll need to borrow. If you’re borrowing to finance one of these costly events, consider a personal loan.
When it’s time to get married, the wedding is on – there’s no waiting for funds!
The average wedding costs over $30,000, too much for one credit card, and the interest would make it incredibly more expensive. A personal loan beats credit cards and financing; you’ll have both a better repayment plan and interest rate.
You may even benefit further if you skip the deposit and offer to pay more of the total cost up front in exchange for a reduced bill.
Adopting a child is the consummate kindness but can be very expensive. Costs can exceed $50,000.
Obtaining financing for this process can be difficult. Unlike traditional big expenses, there’s no collateral; no one can repossess your child if you fall behind on your loans.
A personal loan can make this process a reality. Because the terms are short, you can also pay off your loan in a relatively short time.
3.) Short-term house sales.
Shows like “Divine Design” have inspired people to purchase properties, fix them up and sell them for a profit. This dream hobby or full-time job has one problem: capital.
When you buy a house to sell again, you’re likely borrowing as much as you can to pay for it. That doesn’t leave much money for fixing-up. Some remodeling can be done cheaply but much of it will require capital. Since you don’t have much equity in the property, borrowing against it isn’t possible.
A personal loan can be your answer. With affordable rates and flexible repayment terms, it can finance those improvements. And when you sell the house, you can repay the personal loan early without a penalty!