An installment loan for moving is a great way to spread your expenses out for smaller, more manageable payments. While most of us would like to save up for a move, that isn’t always possible.
You may realize that a move is your only option if you want to find a job. You may have decided to put your home on the market, only to have it sell quicker than you anticipated. Perhaps your landlord’s nephew is moving into your rental and you have to move within a few months.
Whatever your reason, moving costs money. If you don’t have savings for this expense, the money needs to come from somewhere. Even if you have the money in your bank account, you may want to keep your nest egg for the future.
Luckily, an installment loan for moving through FlexMoney can help you pay expenses that you incur before you move, while setting up your place, and even after you’re all settled in.
What’s an Installment Loan?
Basically, an installment loan for moving is an unsecured personal loan. Unsecured means the lender grants credit based on your finances and doesn’t ask for collateral such as a car or house to back the loan.
When you apply, you choose a particular amount, how long you want to repay, and your payment frequency. For instance, you may want to borrow $10,000, repay it over 60 months, and align your payments with your paydays which are every two weeks (bi-weekly).
If you’re pre-approved, the lender notifies you and states the interest rate they are offering you. Generally, those with decent credit enjoy lower interest rates. Nonetheless, even those with less than pristine credit can qualify.
Once you review what the lender has offered you it is just a matter of deciding whether you want to proceed with the loan, or not. If you decide to move ahead, you may need to provide documents to verify the information in your application. Fortunately, a FlexMoney installment loan for moving is handled online.
Upload your documents, we’ll review them, and everything looks good we’ll send you your loan documents for signature. Don’t worry – you can do this digitally too.
Your loan documents include important information such as the loan amount, your interest rate, payment amount, payment frequency, repayment term, and the date of your final payment.
Unlike other lenders, an installment loan for moving through FlexMoney does not involve unnecessary fees. We don’t charge an origination fee for setting up your account. We don’t charge prepayment penalties if you want to accelerate your payments or want to pay off your loan early either.
If you pay your payments on time, you will not pay fees. The only case where fees would apply is if you do not have sufficient funds in your bank account for your payments. This is only because it causes considerable time and inconvenience to handle the situation.
What Can an Installment Loan for Moving Cover?
We mentioned that an installment loan for moving can cover expenses that occur beforehand, during your move, while setting up your new place, and even after you’re all settled in. Here are just a few of the expenses that can be paid through a FlexMoney loan.
Hiring a Truck
This is usually the biggest cost when you’re moving. If you’re just moving across town and don’t have many things you may be able to manage it on your own. However, if your place is packed with furniture, household goods, tools, and more a few hundred dollars isn’t going to cut it.
If you have a shed and garage on top of everything in the house, your expenses will increase even more. Most of us don’t realize just how much we own until it comes time to move.
Valuable items would cost you more to replace, so into the moving truck they must go. You also need to buy packing materials such as boxes, tape, mattress covers, and bubble wrap. You might be able to rent dollies, furniture blankets, and strapping from your rental company. Nonetheless, it all costs money. Suddenly, your small crosstown move could easily cost over a thousand, or more.
Moving to another province or territory increases your expenses exponentially. You’ll need to pay for fuel and moving trucks aren’t easy on gas. You’ll also need to pay for meals and lodgings if you can’t make the trip in one day.
Don’t forget about additional vehicles such as a second car, RV, motorcycle, or boat. You may need to tow these and a trailer will cost you more.
Hiring a Mover
If you want to leave all the heavy lifting to the professionals, prepare to dig deep into your pockets. They’ll charge you for every service including packing and unpacking, moving your goods, and insurance to cover your cargo. You may want to buy additional coverage too if the mover’s policy doesn’t provide adequate protection.
According to one major Canadian van line, the average cost of a move for one person from one province to the next to about $3,600. However, they’re quick to point out that costs will escalate for multiple people, big items such as furniture, including packing and unpacking, and how much stuff you have. Clearly, the cost for a bachelor suite move will be far less than a three-bedroom home with a garage, shed, and storage unit.
Expenses When You Arrive at Your New Location
Whether you rent or own, you will pay expenses at your new location. You’ll need to hook-up your electricity, cable, internet, and telephone. You may also need to transfer over the sewer and water through the municipality.
Even though most of this can be done over the phone or internet, you will probably pay a fee. Plus, your old providers could penalize you if you’re locked into a contract.
Renters will also need to pay a pet deposit if they have furry family members and a security deposit. Owners that live in a condo may need to pay an HOA fee and other adjustments as they close on their new home.
Some people choose not to move bulky belongings such as furniture to the new location. Even though this could reduce their moving costs, they’ll need to shop for new things once they arrive at their new home. Of course, this costs money. Luckily, an installment loan for moving through FlexMoney can pay for new furniture too.
Expenses After You’ve Settled In
Almost without exception, you’ll want to add or change something in your new home. You may discover you don’t have enough furniture or your furniture doesn’t fit. You might realize that you need to make a structural change in your new house for it to work for you.
Whatever your need, an installment loan for moving through FlexMoney can help. Buy a smaller sofa, upgrade the bathroom, or add a bedroom in the basement. It’s up to you!
How Much Can I Borrow?
FlexMoney offers loans from $500 to a maximum of $15,000. Choose the amount you need for your move without adding unnecessary debt. Our repayment terms range from 6 to 60 months with weekly, bi-weekly, or monthly payments options.
Just collect your banking information and fill out our simple online application form. We’ll let you know whether you’re pre-approved within minutes. We use an artificial intelligence assessment and a soft credit inquiry that does not affect your credit file.
Our Requirements for an Installment Loan for Moving
FlexMoney has very straightforward requirements. Please review them – we know your time is valuable.
- You are a Canadian citizen who is at least 20-years old with a valid email and active cellphone
- You’ve been working with the same employer for at least three months and have a bank account with at least three months of financial activity
- Your income is at least $2,000 per month (We will also consider your application if you’re self-employed or receive pension monies from CPP, OAS, or other plans)
How Soon Will I Get the Funds?
The application process for an installment loan for moving is quick and easy. Gather your banking information and fill out our form in less than 15 minutes. We will let you know in minutes if you’re pre-approved.
Review our offer and if you like what you see we’ll send you your loan documents. Sign them digitally and in most cases, FlexMoney can have the cash in your bank account within 24 hours.
If you’re interested in an installment loan for moving, please visit our website. We offer competitive interest rates, a quick application process, and the fastest funds release in the industry.