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Is there really a best personal loan?  It depends on which criteria you prefer.  Some people would say that the best loan is the one with the lowest interest rate, others will emphasise the length of the down payment period or the flexibility of changing loan terms.  For a variety of reasons we may find ourselves needing a personal loan to take care of medical bills, car repairs or to just take that vacation we have been putting off for years.  There are a number of ways to obtain such a loan such as through your bank, through local cash advance services or even through jewelers who will offer you a cash loan in exchange for your jewelry.  So how do you go about finding the best source that fits your needs?

As with any financial transaction you should look at all the fees and interest rates associated with taking out the loan.  Many people prefer to deal with their bank or credit union for such matters, but they may not always have the best rates and often will require that you back up the loan by putting your house or car up for collateral.  Another option that is gaining popularity is jewelers that will give you a cash payout for your jewelry.  They will hold the jewelry in their vault and you will make small payments against it until paid off, at which time they will return the jewelry.  The reason these are gaining popularity is that unlike pawn shops you will get close to the full value of the jewelry and it will not be put up for sale (unless you don't pay back the loan).  It's considered by many a more professional way of doing business versus a pawn shop.

Finally, as a last resort, there are always payday advance establishments that give you money until your next check.  However, they often have the highest interest rates in the business - some exceeding 100%!

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