How to Get Cheap Payday Loans

Payday loans are an increasingly popular way of filling in financial gaps. These stores offer instant cash with proof of income. Usually, these stores also tack on a fee for the service, not to mention high interest rates. It is in your best interest, if you are searching for a payday loan, to find the cheapest interest available.

Instructions

Difficulty: Moderate

1. Look for coupons for payday loan companies. Many payday loan stores will place advertisements in local newspapers with cut-out coupons for lower rates or fees. Keep an eye out for these, as they will help you save a great deal of additional fees on your loan.
2. Negotiate on the price of your payday loan. When you visit a brick-and-mortar payday loan store, negotiate the price of the fee or interest rate with them. You may have to speak to manager about this or even the owner. But if you politely ask for a onetime reduction in fees, you may just get it. This is easier to do if the store is locally owned.
3. Refer a friend. Many payday lenders will give you a cheap payday loan if you refer someone else who needs a loan. Your friend may also get a discount for being a new customer.
4. Use other of the facility's services and ask for a discounted price on the loan. Many payday advance stores offer other services like check cashing, notary or faxing services. If you use more than one of these services, ask if you can get a discount on your payday loan for doing so.

Tips & Warnings

• Be aware that if you don't make timely payments, your interest and finance charges will go through the roof.