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Dec 12

Your complete guide to same day cash loans in the United Kingdom!

Posted by:AutoMoney

Same day cash loans are generating a wealth of attention in the United Kingdom at present. From their very name you can instantly tell what they are all about. It is essentially any type of loan whereby you will receive the money in your bank account within 24 hours of applying for it. This can be extremely beneficial to people in certain situations. You may be about to get your electricity cut off if you do not pay your bill for example. This article aims to explain a little bit more about these loans in order to give you further insight into what they are all about.

If you search online you will see that there are a wealth of lenders offering same day loans. The most well-known same day cash loan is the pay day loan. This is a short term solution which has been designed in order to make sure you are financially sound until pay day. In comparison to other types of loans you will borrow a relatively small amount of money and you usually have around two weeks or so to pay it back. Nevertheless, a pay day loan is not the only type of same day cash loan available. From instalment loans to short term loans; the options are varied. There are then those loans that are not guaranteed same day solutions however some lenders will promise to provide the service within 24 hours, such as certain log book loan companies.

Same day cash loans can be very dangerous in one sense. This is because of the fact that people are in desperate need to get their hands on some quick cash. This can often lead to individuals rushing the application process and neglecting their duty to read over all of the terms and conditions. As a result they end up being stung by a bad loan deal. This is something that is extremely important to take into account, especially when the interest rates of pay day loans and alike seem to be astronomical in the modern day. You can end up paying a lot more than anticipated, and more than you can truly afford, by simply rushing the entire process. This is why people often end up in even hotter water than they were to begin with.

The key is to take your time. As tempting as it may be to simply accept the first deal that comes your way, don’t do it. Instead, research the options at your disposal and find one that suits you. Is a payday loan truly the best option to go for? If you have a vehicle that has been paid for in full wouldn’t it be better to go for a log book loan? Furthermore, make sure you read each and every last word of the terms and conditions. You want to be one hundred per cent certain that you can make the repayments and that there are no hidden costs. Do research on the lender too. Are they credible? Have previous customers been happy with the service they received? Do they have plenty of experience? Only when you are one hundred per cent satisfied should you seal the deal.

Summary – Same day cash loans are something we are hearing more and more about in the United Kingdom. However, not everybody is fully aware of the ins and outs of this type of loan. This article is here to explain.

Borrow with confidence

Borrow with confidence

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350.5%APR Representative
Representative example: Loan amount £1000. Duration 18 months. Repayable by 16 monthly repayments of £170.42 and one of £198.42 (includes Bill of Sale registration fee of £28) commencing two months from the date of the loan. Total amount repayable £2925.14. Rate of interest 187% per annum fixed. Representative 350.5%APR. LOANS ARE SECURED ON YOUR CAR. The vehicle may be repossessed if you do not keep up the repayments.