Getting engaged is one of the most special moments of your lifetime. But after the excitement of the engagement, you face a big question — how to finance a wedding. Weddings can cost a lot of money, and unless you have spent years saving for one, you may have trouble putting together the money to get the ceremony you want. The good news is, you can find ways to make it work.
Can a personal loan help finance your dream wedding? Yes. You can even find wedding loans for people with bad credit. You shouldn't be punished for past money issues. Learn more about how to get a loan for a wedding.
What Is a Wedding Loan?
Many people take out personal loans in order to cover the costs of their wedding. Whether you use the money to pay for the location, the catering, or even the wedding dress, a personal loan can be a great way to increase the amount of money you can spend toward your dream wedding.
Is a Wedding Loan a Smart Idea?
When you are preparing for your ideal wedding, the number one concern many couples and their families have is the cost. A wedding can be one of the most expensive (and happy) days of anyone's life -- that's why most people tend to splurge to create the perfect wedding ceremony and rehearsal. By taking out a personal loan for your wedding, you are guaranteeing you have the money you need to cover specific costs on the day of your wedding without breaking the bank. Then, you can pay the loan back over a time you feel comfortable with.
Should You Worry About Your Credit Score?
The simple answer: no.
With a personal loan from a lender like Atlas Credit, you don't have to worry one bit when it comes to financing costs of your wedding with a loan. When we evaluate borrowers, we are incredibly lenient on credit scores. Whether you have good credit, bad credit, or no credit at all, you can qualify for a quick and easy personal loan with zero hassle.
You also receive benefits from taking out a personal loan. When you make on-time payments, you can build up your credit score again. Borrowers will see your payment history and note that you have become more reliable. Your credit score rises when you make consistent monthly payments.
Will I Have to Put Up Collateral?
Personal loans through Atlas Credit are typically unsecured loans, meaning you won't have to put up your car, your home, or any other collateral toward the loan. All you have to do to qualify is demonstrate gainful employment and the ability to pay back the loan.
When you decide how much you want to pay back each month and the term of the loan repayment, you will have more flexibility than you would through a traditional lender like a bank or credit union.
What Can I Pay for With a Wedding Loan?
When you receive a personal loan for a wedding, there are no restrictions on how you spend the money. You can put it toward whatever bills you need to pay. You may need money to give to a caterer, florist or DJ. Or you may need to pay for alterations to your dress. No matter what your wedding expense may be, you can pay for it using money from your personal loan.
Is Getting a Loan for a Wedding Difficult?
No, it is not difficult to take out a personal loan for your wedding. When you apply for a loan with Atlas Credit, it takes just a few steps. You fill out the online application or stop by one of our locations in Oklahoma or Texas and fill out the form. We get back to you quickly. You may even receive your loan in cash the same day you apply for it.
Then we set up a payment plan with you, taking your personal financial situation into account. We schedule payments for the most optimal time — you can even pay back your money in just a few months if that works for you.
Benefits of Taking Out a Wedding Loan
If you need money for your wedding, why should you consider taking out a wedding loan? What do personal loans offer that you can't find elsewhere? Here are four reasons to take out a personal loan for a wedding:
- Favorable repayment terms: When you get your loan from Atlas Credit, you help determine when to pay your loan. You know the schedule will suit your needs.
- Lower interest than credit cards: Many couples are tempted to use plastic to pay for their weddings, charging everything and worrying about it later. But high interest rates can plunge you into long-term debt quickly if you can only afford to make minimum payments. Personal loans have much lower interest rates, so you will pay less in the long term.
- Borrow only what you need: When you take out other loans, they will give you more money than you need, hoping you will spend it and pay interest on those charges for a long time to come. With a personal loan, you can decide how much to take out. It will make you think more critically of your wedding expenses, too, which may lead to a better wedding experience.
- Find a convenient option: Atlas Credit offers loans across Oklahoma and Texas, so there is a location near you where you can go to discuss any questions. You can also fill forms out online, which doesn't even require leaving the house. And getting your answer back quickly allows you to plan ahead.
Alternatives to Wedding Loans
If you choose not to go the personal loan route, you can always rely on one thing the Atlas Credit blog loves to remind its readers to have: a savings account. From the moment you propose to your significant other and they say yes, you should be saving.
With a proper savings account in place that you put money into after every paycheck, you should be able to afford a considerable sum of your ideal wedding's costs. However, if you supplement with both your savings and a personal loan, you may be able to allocate even more funds toward the planning or even use the extra money on your honeymoon!
Ready to Take Out a Personal Loan for Your Wedding?
If you have considered all your options and think taking out a personal loan for your wedding is a great idea, Atlas Credit is here for you. Simply apply online through our convenient online personal loan application form or find your nearest Atlas Credit location in Longview, Austin, Dallas, Waco, Tyler, Houston, or elsewhere in the state of Texas.
And most of all, the Atlas Credit team wants to congratulate you on your upcoming wedding!