Welcome to Payday Loanfinder UK
The truth about your payday loanfinder:
I'm sure you've heard alot about Payday Loans. There's a lot going around the internet about whether they're a step in the right direction or whether you should steer well clear of them. Let's take a closer look at what payday loans are really about and then take a look at how a loanfinder could help you get your best option!
The idea of a payday loan is to offer you a small amount of money (£200 - £800) to tie you over until your next payday. Say for example your car breaks down & you need a few hundred to fix it. If you've not got access to any savings, a credit card or an overdraft then your only option would be to look for a payday loanfinder to make sure you get your car back on the road, to get you to work!
All seems quite good then, eh? Yes, but do be careful. Due to their nature, they are intended as an emergency source of money. If you or your loanfinder, compares a payday's APR to those of a regular high street loan you will be quite surprised! A high street lender could potentially lend to you at say, 15%. So to borrow £100 over a year would cost you £15. With a Payday loan however, the quoted APRs are usually in excess of 1000%. This is of course a great deal more though just remember that you won't be borrowing the money for a full year, maybe 4 weeks at the most! So to borrow £100 over 4 weeks could potentially only cost you just under £20. If a payday loan is the difference between getting to work, or not, this really is a small price to pay!
Where can I find a payday loanfinder?
A very good place to start searching for your own payday loan would be www.wonga.com due to their very fast turnaround time for getting money into your account.
When searching for a loanfinder make sure you read some loanfinder reviews. Google is always a good place to start!