Payday cash loans are short term loans that provide you with an advance of your paycheck in exchange for a repayment when you receive your paycheck.
Pay day lenders can advance funds under more beneficial terms which include lower interest rates as a result of the short turnaround time associated with repayment of these loans.
In addition, they use your employment as a form of a guarantee for repayment. In order to obtain a pay day loan you begin by applying to a pay day lender. They begin by confirming your employment and your credit history.
For your credit history, a credit check is conducted which verifies that you are have reasonably decent credit.
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Enjoy reading our tips and recommendations. Auto Finance Contributing Editor. Lauren Fix, also called The Car Coach, is an automotive and auto finance expert. Her understanding of vehicles has made her the go to person on TV, radio, print media and the Internet. She has authored multiple books and writes a column for several outlets, including Parade Magazine, NewsMax and Car Coach Reports. She is a regular guest on major news and morning shows, discussing the latest updates on cars and car financing that will help drivers make smart decisions when buying, maintaining and financing cars.
What to consider when choosing a payday and title loan lender. Lending companies often charge people who take out a title loan additional fees for the loan, which can add up quickly.
Follow the short process and if you are approved, receive your cash loan. APR INFORMATION. Annual Percentage Rate (APR) is a measure of the cost of credit, expressed as a nominal yearly rate. It relates to the amount and timing of value received by the consumer to the amount and timing of payments made. We cannot guarantee any APR since we are not a lender ourselves. An APR can generally run between 6 up to 35. Loan products general have a 2-month minimum repayment term and a 84-month maximum repayment term.
Before accepting a loan from a lender within our network, please read the loan agreement carefully as the APR and repayment terms may differ from what is listed on this site. Repayment Terms.