You made the proposal. She said yes. Now they are planning a wedding together. How exiting! But, wait, how are you going to pay everything? The average costs of a wedding today are $ 33,400, but this is only a general estimate. There are many couples who spend much more than that, and if you also consider the honeymoon, it would be easy, about $ 50,000.
That is a considerable sum for couples who do not have too much money saved or whose parents cannot contribute too much. If you have little cash but cannot wait to say “Yes, I want”, you may want to consider a personal payday loan for a wedding. You can get the loan through Credit ToGo for up to $ 40,000, enough money to buy the long-tailed dress, the six-story wedding cake, even that honeymoon in Aruba.
Before taking the leap, consider these reasons why loans to finance a wedding can be a good idea.
How wedding loans work
First of all, a wedding loan is a personal payday loan that you can request to cover the cost of your wedding. It is a type of installment loan for the consumer in which scheduled payments are made on capital and interest throughout the term. You will have to sit down and make numbers first.
How much can you really pay each month over the next few years? Is there any additional cost I can reduce to make it more affordable? Lenders will consider your credit score and income when determining if you qualify. You will get a better interest rate if you have excellent credit.
Compare with different lenders before signing on the dotted line.
Should I request it?
You will first have to do your homework to determine if wedding financing loans are right for you. This type of loan:
- It is easy to obtain: do you have a credit rating of 700 or higher? It will be easier for you to obtain the approval of a personal payday loan for expenses related to the wedding.
- It usually has interesting interest rates: you have a better chance of getting a low interest rate if you have good credit.
- It offers you the possibility of making uncomplicated payments: with providers such as Credit ToGo, you can set up a convenient monthly payment plan for wedding loans. You can choose between flexible terms to be able to repay the loan over time, within your budget, instead of striving to get so much cash at once.
- It allows for a stress-free wedding planning: let’s be realistic … the biggest tension in a wedding is when you wonder how you are going to pay everything. Instead of skimping on everything from flowers to food, with the right financial support you can relax and pay a little more for things important to you.
- It allows you to start immediately: while without a loan you may have had to postpone your commitment or extend it one or two years or more, with the loan you can start planning immediately. With cash flow guarantees, your wedding does not have to take second place in financial matters.
- It gives you long-term guarantees of payment stability: even if you have excellent credit and you have the luxury of paying for your entire wedding with a 0% APR credit card, that promotional offer will not last forever. Once that period ends, your interest rate could be up to 20 percent or more, which is much higher than the interest rate you would get on a personal payday loan for a wedding. A personal payday loan has interest rates and fixed payments so that there are never any surprises.
- It allows you to extract from a fountain to cover a variety of elements , from the place and wedding dress to the flowers and photography. You get the flexibility to pay for those things gradually or all at once. You can’t always pay for things like a wedding coordinator, a photographer and a pianist with the credit card. Having cash is simply more convenient.
Alternative options for personal payday loans
All routes must be exhausted before applying for a personal payday loan. Can you borrow money from your parents without interest rate? Can you modify your budget to make it more affordable and pay with the least amount of cash you have? Is it possible to postpone the wedding from six to 12 months to save?
These things are not always possible for everyone. That is why a personal payday loan for a wedding is a smart idea in many circumstances.