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By: Robert Murray

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Thursday, 26-Aug-2010 23:35 Email | Share | | Bookmark
Cash Store Payday Loans

Online payday loan cash stores offer a variety of options. Most often, they are cheaper than those at offline payday stores. There are certainly lenders charging extremely high interest, but you can easily avoid them by shopping around. Basically, it’s one of the benefits to compare fees online and find the lowest rates in minutes.

Rates To Look For

Most online payday loan stores charge a finance fee rather than an interest rate. Some also charge an additional application fee. If you shop around a little you can find stores that don’t charge this fee. And some of them offer a free loan for 1st time borrowers.

While checking loan rates, you should compare the APRs, which allows to see what the loan will cost.

Beware High Rates

Don’t go with the first payday loan offer you receive. Shop around for a few quotes. You can do this by checking a few websites or if you call up a fe loan stores. You can find what you’re looking for either under “FAQ” or “Fees” section of the lender’s website.

You should pay attention to the repayment terms as well. For example, if you need a payday loan for 2 weeks, look at how much in fees the lender charges for the 2 weeks period.

Understand Repayment Plans

Another way for lenders to generate a profit if you delay your loan payments. Initially those companies may offer cheap rates, but if you add a few days or weeks to the initial term by rescheduling the payment plan, you’ll need to pay high extension fees.

When you finally select the righ lender, make sure you pay back in full on your payday. That will reduce the overall costs associated with the loan saving more money for yourself.



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