Best Quick Loans for Bad Credit (Personal, Car, and Home)

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We all make mistakes at times, and that includes our finances. No matter the reason, if you have a bad credit score, you might be worried that you won’t be able to get the money you need — when you need it.

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It’s true that bad credit can make it a little more difficult to get quick cash when things get tricky. However, there are online lenders that specialize in making loans to those with poor credit history. These lenders are often flexible and can provide you with solutions that might not be available at traditional banks and credit unions.

While interest rates may be a bit higher, they’re certainly not as high as you will find with payday loans. Maybe you just need a cash advance to get through next week. Or perhaps you’re looking for debt consolidation loans to pay off high-interest credit card debt. Whatever your need, they’ve got you covered.

Here’s where you can look if you need a quick and easy loan for bad credit.

Best Short-Term Loans for Bad Credit

Short-term loans are basically cash advance loans. They’re paid back in a relatively short period of time, usually over six months or up to a year. Additionally, they are typically small, often not allowing you to borrow more than $2,500.

Often, you can get short-term loans that are approved in minutes, with the funds arriving in your bank account as soon as the next business day. Realize, though, that these types of loans are similar to payday loans.

They typically come with very steep interest rates. If you need quick cash and can pay it off fast, it might not matter as much. However, it’s crucial to pay attention and avoid renewing these bad credit loans if possible.

MoneyMutual

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  • Loan amount up to $2,500
  • Interest rates depend on type of loan and term
  • Loans as fast as 24 hours after approval

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CashAdvance.com

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  • Loan amounts between $100 and $1,000
  • Interest rates vary
  • Funds transferred to your bank account as soon as the next business day

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With any short-term lender, make sure that you can handle the fees. If you need more than a few months to repay the debt, consider a personal installment loan instead of a short-term quick cash loan.

They do run a credit check but specialize in lending to bad credit borrowers. You must show that you make at least $1,000 per month and that you’ve had a job for at least 90 days.

Best Personal Loans for Bad Credit

With a personal loan, you can generally borrow money for up to 72 months. Personal loans might also allow you to borrow more money, sometimes up to $40,000. However, if you’re looking for installment loans for bad credit, you’re more likely to be limited to $5,000 or $10,000.

When you apply for online personal loans, you can still usually get a fast decision. Typically, you can have the money in your bank account within a couple of business days from being approved.

CashUSA

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  • Loan amounts between $500 and $10,000
  • Interest rate ranging from 5.99% to 35.99%
  • Loan terms ranging from 3 to 72 months
  • Use the loan for any purpose

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PersonalLoans.com

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  • Loan amounts between $500 and $35,000
  • Interest rate ranging from 5.99% to 35.99%
  • Loan terms ranging from 3 to 72 months
  • No minimum credit score required

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Bad Credit Loans

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  • Loan amounts between $500 and $10,000
  • Interest rate ranging from 5.99% to 35.99%
  • Loan terms ranging from 3 to 60 months
  • Specializes in borrowers with poor credit scores

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Look for ways to avoid extending a personal loan too long, though. Even though you could get a lower payment, that means that you’ll be paying for a longer period of time. As a result, you could easily end up paying a lot more than you expected in interest. Carefully consider how you can get an affordable monthly payment without keeping the loan for too long.

Best Car Loans for Bad Credit

When you need to buy a car, you might not have time to save up or improve your credit score. As a result, you might be looking for online lenders that offer auto loans for people with bad credit. If you need to buy a car quickly so you can get to work, consider getting a loan with one of these lenders. They all offer quick decisions and funding.

couple buying a new car

Car.Loan.com

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  • Specializes in cars for those with bad credit and bankruptcy
    Provides financing for first-time car buyers
  • No loan application fees
  • Interest rate varies based on credit scores, usually between 3.99% and 29.99%
  • Loan amount depends on what you’re buying and other factors

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myAutoloan

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  • National network of lenders, resulting in offers in minutes
  • Loans for new and used cars
  • Refinance a current auto loan
  • Interest rate varies based on credit scores
  • Loan amount depends on your car and other factors

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With an online auto loan provider, you’re likely to be approved for a set amount and then receive a certificate you can show to car sellers. Interest rates can be fairly steep, though, so you might want to be careful of getting a fast cash car loan if you don’t need something immediately.

Best Home Loans for Bad Credit

Even with poor credit, it’s possible to find lenders willing to provide you with a home loan. However, be aware that you might need to pay higher interest. In some cases, you might be better off renting until you can raise your credit score and get a better rate.

But if you need a quick response to see what you qualify for, there are some options. Here are some of the places where it’s easiest to apply for home loans online.

Credible

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  • Focuses on home loan refinancing only
  • Includes cash-out refinancing options
  • Complete the entire application process on Credible
  • Interest rate based on various factors, including credit scores

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LendingTree

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  • Large network of lenders across the country
  • Receive up to five offers very quickly
  • Use for purchase, refinance, and home equity
  • Offers reverse mortgage options
  • Interest rate based on various factors

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Quicken Loans

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  • Nation’s largest online home loan provider
  • Get a home with as little as 3.5% down
  • Use for purchase, refinance, and debt consolidation
  • Free preapproval
  • Interest rate based on various factors
  • Known for servicing its own loans, rather than selling them

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You must still provide documentation related to your financial situation and income when getting a home loan. If you have bad credit, you’re more likely to get a home loan if you can make a larger down payment.

Home loans, including refinancing loans, are more complex and so you need to be prepared, especially if you have credit problems or a thin credit file.

Borrow Responsibly

Whenever you need a loan with bad credit, you should borrow as responsibly as possible. A quick loan can help you shore up your finances or even get back on the right financial track. However, you must carefully consider your options. The quicker you get your cash, and the worse your credit, the more you are likely to pay.

Only borrow what you need. Furthermore, make sure you can truly afford the monthly payments and the interest and fees that come with any loan. Recognize that there’s a price to pay when you require fast financing and have bad credit. If you need the cash fast and this is the only way to get it, do your best to limit how much you borrow and pay it back as quickly as you can.

Miranda Marquit
Meet the author

Miranda has been covering personal finance topics for more than 10 years as a freelance writer and journalist. She has contributed to Forbes, NPR, MarketWatch, Yahoo! Finance, U.S. News and World Report, and many other media outlets. Miranda has an M.A. in Journalism and is currently working on an MBA. She lives in Idaho with her son, where she enjoys reading, travel, and the outdoors.