Payday Loans and Fast Cash Guide

How Much Do Fast Cash Loans Cost?

We all know that  fast cash loan of any type is expensive, but how much does it really cost?  In this post I want to help you understand what you’re actually going to pay on these types of loan, as well as a bit of info why you’re paying so ridiculously much!

I want to break this down by payday loans and title loans, so feel free to skip to whatever section pertains to the loan that you are interested in applying for.

Also keep in mind that interest rates change on a daily basis, and these are just averages and estimations.  Talk with your lender or payday loan store before applying to get exact numbers.

Payday Loan Rates

Each state has their own regulations on what payday loan lenders can charge, but the average is around $25 for each $100 that you borrow.  Broken down into an APR percentage, this number is extreme, but since the loan is repaid in less than a month an annual percentage rate is an unfair way to demonstrate their cost.  If a payday loan company was to charge a rate closer to what a regular bank would, they would only make a few bucks in interest on each loan.  That might sound great for you, but payday lenders wouldn’t stay in business for very long!

Another reason these loans cost so much is the risk that the lender takes on by giving you money.  There isn’t a credit check involved, so they have no idea of what your financial history is like to be able to determine the likelihood that you’ll pay the loan back.  This leads to a lot of loans going unpaid and to collections, which costs the lender even more.

So to break down what to expect to pay on your loan, we’ll offer this simple payday loan calculator:

Loan AmountTotal Amount Due
$100$125
$200$250
$300$375
$400$500
$500$625
$750$937.50
$1000$1250
$1500$1875

As you can see, these loans get extremely expensive quick!  Also, this is for the initial loan amount, not factoring any extensions or refinancing.

Title Loans

Stat regulations on auto title loans are even more bizarre than they are with payday loans.  They vary wildly from state to state, so it’s hard to pinpoint a single number that you can expect to pay.

What does seems to be the norm, however, is 25% monthly interest.  That’s not 25% APR, but a monthly interest charge that adds up to an insane APR percentage.  Since title loans are normally repaid over the course of several months, you are going to pay a lot in interest.

One thing that I have to add, should you apply for a title loan, is that you should not accept the option to pay “interest only” for any period of time.  This is where title loan lenders prey on the uninformed.  They make it sound like a good idea, but all you’re going to do is pay the interest on your loan, and nothing towards the principle.  After months of paying interest, you will still be left to pay back the original loan amount.

To read some horror stories about title loans from CNN, click here.

My intention is not to turn you away from getting a loan like this, I just want you to know what you’re getting yourself into.  Knowing what to expect when you apply for something like this can go a long way to helping you make smart decisions when faced with the lender’s questions.

Thanks for reading!

-Lydia

Where Can I Get Fast Cash?

I get the question “where can I get fast cash?” a lot here at Fast Cash Authority.  The answer boils down to three things that you can do to get cash fast.  Usually, you’ll end up getting a loan, but the most important thing is to take the necessary steps to reduce the amount that you need to borrow.  This is best done by selling off the extra crap in your house and working fast cash jobs.  I’ll break these down in more detail below so you know what you’re doing.

The easiest way to get cash fast is to sell off the crap that you have in your house.  If you’re like most people, you have a garage full of things that are valuable, but you don’t use them any more.  It could be electronics, sporting equipment, tools, or anything that never really goes out of style.  You can round everything up and head to the pawn shop, or head to stores that only buy what you’re selling.  Pawn shops are easier, but the specialty stores will pay more.  Be sure to spend a few minutes cleaning up your stuff before selling it, you’ll get more money.

Fast cash jobs are everywhere.  You can go mow your neighbor’s lawn, or hand out fliers for your local pizza shop, or babysit your friend’s kids.  Figure out what you’re good at and have the tools on hand to do and go do it.  Have a bunch of cans and bottles laying around?  Go recycle them.  Are you a big guy?  Go be a bouncer.  I think you get it, look for immediate opportunities and go take care of it.

Doing the things above will reduce the amount of money that you need from a loan, or even eliminate the need altogether.  Payday loans are a great way to get the rest of the money that you need.  They are safe, reliable, and easy.  You can get them online if you live in an area where there aren’t many payday lenders around, or you can kick it old school and go to the store to borrow cash.  Either way you go, you’ll get the cash that you need.

Fast Cash Online

Finding fast cash online seems like a shaky business.  There are so many people out there to scam you, how do you know what’s actually going to make you any money?  I’ve been through lots of good and bad programs online, and I’ve narrowed it down to three that I think will help you get the cash you want with the speed that you need.

If you’re looking for long-term cash, this isn’t the post for you!  I’ll show you three programs that can help you make a few hundred bucks in a few hours, but don’t expect any recurring money.  These programs are designed to help you get paid, not to help you retire!

Beware, not all make cash online programs are created equally.  I’m recommending these below because I know that they don’t suck and will actually pay you.  There are tons of online cash scams out there, and to be totally honest with you, they are mostly all scams.  You probably won’t lose much money trying them out, but you certainly will waste a ton of time!  Wasting time does not equal fast cash at all!  I’ve tried out all three of the programs below and have gotten paid from them.  Your results may be different than mine, but I’m really good at staring at a computer screen for a few hours doing mindless work and certainly have no problem getting paid for it!

Fast Cash Online With Cash Crate

Cash Crate gets you paid by filling out surveys and other promotional offers.  They are very serious about getting you paid.  You even get paid for completing your own personal information, how awesome is that?!

Don’t expect a ton of cash at once.  You’ll get paid anywhere between a quarter and a few bucks for completing the surveys/offers, but the good news is that they’re extremely easy so you can knock out dozens of them in an hour.

You’ll get paid once a month (boo!) after you reach their $20 payout threshold.  If you put in few hours of work each week you can expect to bring in a few hundred extra bucks a month without really having to anything at all.

Fast Cash Online With Project Payday

Project Payday is really cool.  The best thing about it is that you can get paid as soon as the offers you complete are approved.  I sat down for a few hours one day and made a total of $232!

The way that Project Payday works is a bit abstract.  You sign up for a bunch of crap with your credit card and you get paid for it.  Here’s the thing, you have to be smart and cancel all of the charges on your credit card or they’ll keep billing you.  The dumb asses that forget to do this are what keeps money coming in to the program, but it’s still in your best interest to be smart and cancel.

You might even sign up for things that you actually use and enjoy.  I signed up for an online subscription from Blockbuster that I use often, but most of the stuff is pretty useless.  The offers will range anywhere from 50 cents to upwards of $25.  And, like I said above, you get paid as soon as the offer is completed and approved (which can be as fast as a few minutes).

The cats at Project Payday are so sure that you’ll make money that they guarantee it!  If you don’t make any money (having legitimately tried) they pay you instead.  Pretty sweet!

Fast Cash Online With Survey Adventure

Survey Adventure is dedicated to finding you the easiest and fastest surveys around.  You get matched with retailers and other companies based on who you are and surveys are then offered to you.

Not only can you earn cash with Survey Adventure, they also offer prizes like clothes and electronics with certain surveys.  The best part about this one is that the surveys are extremely easy and you can finish dozens of them each hour.

With these three ways you can make fast cash online very easy.  The potential for how much you can make is really endless.  You can use one of them, or a blend of all of them.  I recommend signing up and giving each one a shot so that you can figure out what works best for you.

Or, if you want to get a fast cash loan online instead of filling out surveys and completing offers, you can just click on that giant blue banner up at the top of this post!

Project Payday

You may have heard of Project Payday as a way to make some fast cash on the internet.  What you’ve heard is true, and after trying it out I made $200 fast cash first day.  They are so sure that you’ll make money they guarantee it (more on this below).

For those of you looking for the Project Payday scam, I have to say that you get out what you put in with this program.  If you’re willing to wade through the offers, you’re going to make money.  Plain and simple.  So is Project Payday a scam?  No.  Many of the sites that you find around the web that are saying it’s a scam are Internet Marketers trying to get you to buy their money making program from Clickbank.

The site certainly has a “scammy” feel to it.  With the long landing page and big promises, but for once, this program actually works!  There are real people making real money with Project Payday, myself included.

The Project Payday Guarantee

It’s totally FREE to join the program, and after applying you’ll probably have to wait a little bit for approval.  I’m pretty sure that everyone who applies, and lives in the U.S. or Canada, becomes a part of the program.  The guarantee that they offer is that if you don’t make money in your first 24 hours (while actually following the program) they’ll give you $100!  That really shows how serious the folks over there are about you making money.

How Does Project Payday Work?

Keep in mind that this isn’t one of those things that you’re promised that after it’s set up, it goes on autopilot and you rake in the money.  With Project Payday you have to do stuff to get paid.  What you do is sign up for trial offers from different companies, and after completing all of the steps to get the trial you get paid.  It’s certainly free to join the program, but some of these trail offers will cost you a few bucks.  The few dollars that you put in will get you paid the real money.  I averaged spending a little more than $3 for every $20 I made.  Not bad at all!

After completing the offers, you’re paid anywhere from $5 to $50 and the amount you’re paid is usually relative to the fee to start it.  Like I said, if you stick with this you’re going to make money.  I made $200 in just a few days, and I’m sure that if I would have dedicated more time to it I could have made at least $1000.

The choice is totally up to you, but I recommend giving it a try.  If you don’t make any money, they’ll pay you $100, so what do you have to lose?  If you’re anything like me, and are tired of chasing money making scams, give Project Payday a shot and make some actual money.

Thanks for reading,

Lydia

Page optimized by WP Minify WordPress Plugin