It isn’t difficult to find an online cash advance or payday loan lender anymore. Search engine results will provide you with pages upon pages of direct lenders waiting for your business. When you put enough effort into choosing the right lender, your loan becomes safer and often times cheaper.
Like any other type of comparative shopping experience, we all want the most for the least amount of money. Short-term loan lenders are no different. You will be able to find better deals if you just keep looking.
I can remember going school shopping with my brother. He would walk through each store in the mall and take mental inventory of clothing selections and prices. One by one, we would find what everyone has to offer as he narrowed his search between selections he liked and how much and their price tag. Eventually he would come up with three different stores which we would have to revisit. Take more time in each, maybe even try a few things on, before finally selecting his new wardrobe which often meant articles of clothing from each of the three remaining stores. Searching online is a bit more convenient, and thankfully, online cash advances need no fitting rooms.
There is no way that you will want to go through each search result web page. But clicking through the first few pages of results will give you a pretty good idea. Some websites are easy to navigate, while others as too simple with no “meat on their bones” as far as being informative to a page viewer.
*Does the page explain the service?
*Is the application formatted simply?
*Does the phone number connect you to the company during business hours?
*Can you find fee prices?
*Are they promising large amounts of money as compared to other lenders?
*Do they follow state regulations?
*Do you know the cash advance loan regulations for your state?
It is always good to know what it is you are allowed to do as far as lending regulations. There are a few states which have prohibited these loans from doing business with their residents. If you are regulated in such a way and you do take out a short-term loan only to have problems, the state will not be backing your fights against the direct lender. Reputable companies will follow all state rules, so know the lender willing to loan against regulations may also be making other poor practice decisions.
Call a few of the lender and ask questions. Anyone trying to push you into a loan should be crossed off the list. Check pricing per one hundred dollars and ask about payment options. Listen to the customer service representative and make sure you are comfortable with the way the person handles things. Do business with good communicators. If at any point you have trouble, you will want that friendly service to help you out.
Choosing a cash advance or payday loan lender is a process. Find one that fits your situation. If a lender says no to your request, there is a good reason; most lenders will not just push customers away. Make sure your finances support a short-term loan, you have their qualifications and your loan amount is affordable. A little competition between lenders will force the good ones into a competitive market. Be careful of direct lenders that offer more when you know you are making less. That is a recipe for bad finance.