Want to start a business but don’t have the funds? Constantly worried about your bills spiraling out of control? People who lack sufficient budget and need immediate funding often find themselves torn between two popular financing options: selling their assets or applying for a loan using their high-value properties as collateral. If you ever find yourself stuck in the same predicament, here are a few important things to consider to make the right choice. Read on.
Should you Sell Your Assets or Put them on Loan? Things to consider
Option 1: Why Sell Your Assets?
Expensive assets such as jewelry items, designer handbags, and high-end electronics are not just for fashion and leisure. They are also often treated as investments. One must be willing to sacrifice a large portion of their budget to own any of these. Hence, these same items are also the first to go when one needs immediate financing.
There are many perks and advantages of selling one’s luxurious assets. Sure, it may be hard to part ways with your favorite designer purse that goes well with most of your outfits or the emerald necklace you just loved so much. Yet, if you’re willing to do just a little sacrifice, reselling these pre-owned items will surely help you a lot in your financial troubles. Below are the top reasons why you should consider selling your assets.
- You get to name your price
One of the biggest advantages of selling your own stuff is that you get to do things your way – from the arrangements, the conditions, and the price. Unlike when applying for a loan, selling your assets to private buyers gives you the upper hand in setting the terms and conditions of the whole transaction. It is up to you how much you should get in exchange for your items, who is qualified to buy, and how quickly the process should go.
- More space, less problem
Letting some of your items go isn’t completely bad news. On the bright side, you get to get rid of things you’ve already enjoyed to your heart’s content and take advantage of additional space in your room. Just think of all the possibilities that must be waiting! Your old cabinet dedicated to your designer items might be an excellent place to keep your books and other necessities. The garage that once houses your luxury car can be converted to a workspace. Plus, you’ve got fewer things to worry about – from storage problems, maintenance-related expenses to cleaning obligations.
- Require low operational cost
Another benefit tied to selling your pre-loved items is the promise of low operational cost. Compared to regular selling, which generally requires buying or manufacturing the items, paying workers, and renting physical stores, this financing method requires little to no payment on your part. With the advent of online selling, you can simply list your assets on various websites, pay a little to boost your advertising techniques, and wait for interested buyers to get your items. You won’t have to worry about sourcing materials, managing a physical store, or even accounting staff.
Option 2: Why loan your assets?
If you don’t want to engage in the hassles of selling and advertising, applying for a loan using your assets as collateral is another option to consider to get instant cash. Similar to the former, this financing method also promises a lot, if not more, benefits on your part. These include:
- Instant payout
If you need immediate funding, getting a loan instead of selling your assets is better. When you sell your items, expect that you’ll need to wait for some time before getting your hands on the needed money. In some cases, you might even have to wait for months before you can finally lock a good sale that promises a high payout. On the other hand, a loan is easier and more convenient. In the latter case, you’ll only need to see a reputable loan company, apply for a loan using your high-value assets as collateral, and get instant cash in return.
- Make money without spending a dime
While selling your assets promises low operational cost, getting a loan means no additional cost at all. Of course, you may still choose to go for some minor improvements or quick fixing if you want to boost the value of your property. But if your assets have no issue whatsoever, you’ll only need to take them to the nearest loan company and get instant funding right away.
- Opportunity to get your assets back
Finally, if you’re not ready to part ways with your items yet, putting them on loan is better than selling them. In the latter, the whole arrangement is meant to transfer ownership over your assets to another party. In the former, you’ll only submit your much-adored items as collateral, i.e., as security for what you’ve borrowed. This means you can still get them back if you manage to repay your loan within the term agreed upon.
The Decision is Yours
So, have you made up your mind on which route to take? If you want to do things your way and ensure you’ll get the price you want, selling your luxury items is the best option. Meanwhile, if you’re after speed and convenience, using your assets to apply for a loan is a suitable financing method. The decision is yours to take.
Get a Loan or Sell your Assets Here!
Got some high-value items in your hand? If you’re in need of cash, you can sell them to us or apply for a loan using your luxurious properties as collateral. We accept authentic jewelry pieces, designer handbags, auto title loans, rare coins, and more!
You may visit our site, contact us, or bring your asset(s) to one of our offices in Phoenix, AZ!