What are common types of moving-related expenses?
Moving comes with several expenses. Those can include the cost of packing supplies and furnishings as well as the costs for truck rentals and moving companies to assist with loading and transportation. There may also be costs associated with switching utilities to your new address, such as a deposit to the electric company.
What are unexpected costs of moving?
Expenses can sneak up on you when you’re moving, and it’s essential to be prepared for unexpected items. Costs associated with moving can include travel – for you, your things, and your movers. Depending on how far you’re moving, travel can consist of flights, cargo payments, and even hotel rooms if you’re driving your things to another state. If you have many items, you may also have to hire an extra set of hands to help out. If you’re packing a few things, you might be able to acquire free boxes and supplies. However, if you have an entire home to pack up, you may have to pay for a good deal of moving containers and boxes, as well as tape, bubble wrap, and protective coverings for your breakables.
What is the benefit of moving expense financing?
Financing your moving expenses can help keep you from dipping into your savings account to pay for the relocation. By financing the move, you can pay it back in smaller increments over time instead of worrying about providing the money upfront. Depending on your budget, that may also provide you with a cushion to use more luxuries while you move and make the process easier on yourself.
What do I need to qualify for moving expense financing?
To qualify for a personal loan for moving expenses, you should be prepared to provide proof of income, financial history, bank statements, and any statements from your current creditors. If you’re offering a co-signer, you should also be ready to provide their personal and financial information to the lender.
What credit score do I need to obtain a moving-related loan?
There is no one credit score that will qualify you for a personal loan for moving expenses. Online lenders like Reprise will look at the total picture of a person’s application to find a product that works best for each application.
Should you use a personal loan for moving expenses?
Using a personal loan to pay for moving expenses can help you manage significant expenses over a more extended period. If your move costs thousands of dollars, a personal loan can provide a fixed repayment plan without dipping into your savings account. It’s important first to understand exactly how much you need to borrow and consider any additional costs that may come along as you begin the relocation process. Then you can apply for the amount you need and take the stress out of moving expenses.
How do I finance a move and get started?
Moving can be extremely costly and time-consuming. If you’re finding that your expenses are stretching beyond your out-of-pocket budget, exploring the possibility of a personal loan could help you manage those costs. Online lenders can offer a fast and easy way to get the funds you need to cover your moving costs and help ease relocation stress.
To apply for a personal loan to finance your move, you can begin by submitting your personal information and required documents to your lender of choice. You should be able to provide your credit and financial history, proof of income, social security number, address, and bank statements. Some lenders may also require a co-signer or sufficient collateral in the case of a secured loan. If you’re approved through an online lender, you may be able to access your funds the next business day after approval.
