Tips On Getting Cheap Payday Loans

by David Jenyns on October 17, 2011

Because of the rise in sudden financial emergencies mainly caused by the worlds current economic mess, payday loans have become more and more popular in the United Kingdom.

While it’s correct they are charging extremely high rates, it is not impossible to get the price down from the advertised rate. This is particularly true if you can visit one of the money shops that are turning up in cities and towns across the UK.

Tip 1 – Window Shop

Do a search for independent reviews of the loan company you are thinking of using. As an example, if you believe QuickQuid is the right pay-day lender for you then search for ‘QuickQuid review ‘ and see what others say about them.

Tip 2 Coupons

Many payday loan shops will publicize their offers in local newspapers. There, free cut out promotions are given out entitling you to lower rates. If you are definite about getting a payday loan, you have got to keep a particularly keen eye out for these promo codes.

Tip 3 Barter

Negotiation always has a positive end result particularly when it comes to payday loans. This applies most especially when you’re planning to get a longer term loan which will take you more time to pay. When you visit a payday loan company or store, you can negotiate the price of the interest or fee with the people responsible. Ask to see the manager if the staff aren’t keen.

Tip 4 Look At Your Options

Consider a logbook loan instead if you own a car or motorbike. Try your boss for a sub till payday – it is not in their interest to have staff in debt and unhappy. Another choice is to use a pawnbroker as the charges are far cheaper than other emergency cash lenders and there aren’t any monthly repayment plans to stress about.

Anthony Killey is a financial advisor and writes reports and reviews on numerous pay-day loan lenders including Wonga and Payday Bank on his blog.

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