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Payday Loan Rates  XML
Forum Index » Emergency Cash Loans
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[Post New]04/11/2009
    Subject: Payday Loan Rates
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timmaay


Joined: 04/11/2009
Messages: 1
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I have an emergency situation where i need to get $1000 fast for my car to be repaired. I need the money fast but I still want to not get screwed over. My friend suggested an online site that he used before. I looked it over and it looks ok, but I am not sure what is a reasonable rate for a payday loan. Is there a standard for this type of loan?

This message was edited 1 time. Last update was at 04/13/2009

[Post New]04/13/2009
    Subject: Re:Payday Loan Rates
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dtempleton

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Joined: 10/15/2008
Messages: 323
Location: Atlanta
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Interest rates on payday loans are VERY expensive. APRs on payday loans can range anywhere from 400% to as high as 5,000%! I would charge the auto repair on a credit card or try borrowing from a family member if you can.

If a payday loan is your only choice, make sure you read The Truth About Payday Loans before applying for one.
Deanna | Credit.com Team Member
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