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If you are desperately needing money before your next paycheck and have no other options to get lending, then fast cash pay day loans can make financial sense. These are short term loans that carry above average interest rates however they are probably the most convenient option to get fast cash.

pay day loans

So when does it make financial sense to consider fast cash pay day loans?

pay day loans

The easiest way to determine if getting a pay day loan makes financial sense to see if the cost of not getting the loan is greater than the finance charge. Credit card bills, mortgages, car payments, and bounced checks all carry late fees which range from $25-$75. If you are not able to make a few of these payments you are looking at late fees well over $100. If the finance charge on the pay day loan is less than these accumulated fees then getting the loan makes financial sense.

Unexpected events happen all the time in our lives which leave us in desperate need for quick money. Whether it is a car breakdown, a sudden death in the family, or a medical emergency, things happen that are out of control and often times leave us really needing money. It is in times like these that fast cash pay day loans can be a real life saver.

A typical finance charge on a pay day loan is $15 for every $100 that is borrow. This is just the average however and lenders vary greatly state by state. Therefore, if you wanted a $300 fast cash loan, it would cost you around $45. While this might seem like a lot it just depends on what you needed the money for. What if your car breaks down and you can't get to work without paying the $500 to repair it? Is it worth it to risk your job and not get the car fixed?

Most fast cash pay day loans are issued for anywhere from $300 - $1,500 and are to be paid back within 2-4 weeks. It is important to pay it off as soon as possible to avoid any late fees. If you are unable to pay it back on the agreed upon just let the lender know and they will roll over the balance until your next pay day. You will however incur more fees if you decide to roll it over so make sure you do everything you can to pay it back on time.

Instead of waiting in line at your nearest cash advance location it is much easier to apply for a loan online. Using a matchmaker service such as CashAdvanceSelector.com is the most convenient way to obtain fast cash before your next pay day. They are one of the biggest and most respected pay day loan matchmakers in the industry. It is a completely free service and typically customers are able to get a better rate than going directly to a lender because multiple lenders are competing for the loan rights.

Pay day loans