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 </figure>Newswire, courtesy Associated PressAs the end of the year approaches, people start looking forward to 
their tax refunds. Many use these refunds to restock their emergency 
savings, invest, make big purchases, and travel. But the IRS can take a 
long time to get your refund to you, even if you sign up for direct 
deposit. If you need the money faster, you may have considered a tax 
refund loan. This article will explain how <a href="https://www.advanceamerica.net/money-saving-tips/money-management/pros-and-cons-of-a-tax-refund-loan">tax refund loans</a> work and their benefits and drawbacks. Then, we'll dive into a few tax refund loan alternatives for your consideration.How does a tax refund loan work?Tax
 refund loans let taxpayers who qualify for a tax refund borrow against 
that refund. After filing your taxes with a tax preparer, you can apply 
for one of these loans with no credit check. If approved, they're 
typically disbursed to you via prepaid card or check within 24 hours of 
filing your return.You don't repay these — instead, the lender 
opens a temporary bank account and tells the IRS to deposit the refund 
into it. They then take the loan amount plus fees and tax prep costs out
 of the refund before paying you the remainder. These loans are often 
interest-free. However, you may owe a fee, depending on the lender or 
tax filing service you work with.Tax refund loan alternativesTax
 refund loans can be hard to compare since you can often only get one 
from your tax preparer. They're also fairly costly in some cases. Plus, 
there's always the chance your tax return has an error that, when 
corrected, reduces your refund. You may owe money if you borrowed more 
than your correct refund. So, if you need your refund fast but don't 
want a tax refund loan, consider these alternatives:1. Cash advancesCash
 advances are fast, small-dollar loans that you can use to cover 
expenses until your next payday. Many lenders have less strict 
requirements and will consider factors like your income and current 
debts in addition to your credit score. This means you can still get 
this type of loan with poor or fair credit.If approved for a cash
 advance, you can often get the funds as soon as the same day you apply.
 Then, you'll repay what you owe plus interest in two to four weeks. You
 can also roll over the loan for an additional fee if you can't repay.2. Installment loansInstallment
 loans let you borrow large lump sums and repay them in fixed monthly 
principal and interest payments. These tend to offer better interest 
rates and are easy to budget for, thanks to their predictable payments.Plus,
 installment loans have longer timelines. This lets you borrow more and 
spread it out over a longer amount of time in case you need more than 
your tax refund amount. There are installment loans available to 
borrowers with a wide variety of credit scores and histories.3. Title loansIf
 you own your car outright, a title loan lets you borrow against your 
vehicle's title for a quick loan. Lenders appraise your vehicle, verify 
your income, and then offer you a loan worth 25% to 50% of your car's 
value. You can then get your funds that same day and continue driving 
your vehicle during repayment.Consider a loan while you wait for your tax refundTax
 refund loans make it easy to access your money ASAP if you need it 
quickly. However, they can come with fees, and it's hard to compare 
options. Luckily, if you don't want a tax refund loan, there are plenty 
of alternatives.Cash advances are one of the fastest short-term 
options for anyone, whereas title loans could be more suited for people 
who own vehicles outright. Installment loans may work well for people 
with larger refunds or who need to borrow more and want fixed payments. 
Whichever option you choose, make sure you budget for the loan. This 
will help you minimize costs and financial stress while allowing you to 
take advantage of the extra funds.

Risk and reward: How fast can I get a tax refund loan?