Whenever you need to get a loan and you step into any bank you have to go through a lot of paperwork and need to wait for ages to get approvals. But now you can benefit from available direct lender loans online. These loans are convenient to get without wasting time and dealing with paperwork.
If you are in a real financial crisis and need to get an amount before your next paycheck comes then a cash advance loan is helpful. The cash advance is just a filler that can fill the financial gap.
Although there are a lot of cash advance loans from direct lenders available online, finding a trustable lender is a difficult task. It is important to do careful research before taking a cash advance and comparing the direct lenders. Here the given article would be a great help for you.
Table of Contents
What Is A Cash Advance Loan?
A cash advance is a type of short-term loan that is easy to get but can be expensive. Cash advance loans are typically designed for people who want to access small amounts of money easily and quickly.
Emergencies are unexpected and there are some expenses that we do not have planned. To deal with all these financial crises we can rely on cash advance loans.
Why do You need To Find Cash Advance Loans From Direct Lender Wisely?
It is very important to do a careful search to find cash advance loans from a direct lender, otherwise, the loan can be more expensive than you expected. In the UK cash advance loans are very easy to get however you may have to pay the cost of its high speed if you are not paying careful attention.
There are some hidden fees that maybe you have to pay. It could be an ATM or a bank fee that is added to your repayment by the ATM owner or the bank that handles the transaction.
Alternative to Cash Advance Loans Direct Lender
By working with direct lenders you may be able to get a better and reduced rate and charges on the loan but there are some disadvantages also. As you have to do a lot of homework to find and access some good direct lenders. Some lenders have limited programs and you may affect your credit score with multiple inquiries.
The choice is totally yours, but a licensed credit broker like GetPaydayLoan is a suitable alternative. GetPaydayLoan offers you to easily access to hundreds of UK lenders and suitable loans option.
What Are The Things To Remember While Finding A Cash Advance Loan Direct Lender?
If you are in search of a cash advance loan direct lender then you need to focus on some of the certain things before considering any lender. Experts always suggest to focus the given things so that you may not indulge in any scam or lose your personal data:
Repayment Scheme
Every advance loan direct lender has a certain specific repayment scheme that is different from others. You need to focus on the repayment scheme of the lender you are considering and check all the details about it before indulging in the official process.
Additional and Hidden fees
Advanced cash loan direct lenders charge different fees some of which are explicit and some are implicit in their working. You need to have a look at all the additional fees so that you may not pay any extra fee that goes out of the budget.
Look for APR
Advance loan direct lenders have an annual percentage rate of overpayment that varies from one to another. Some of them charge extra money on an annual basis while some charge less. You must consider the tool which has the lowest APR to facilitate yourself.
License
A license is considered the most important thing to focus on before considering any lender. If the lender is not having any license then it might be possible that they are just a scam. You should avoid such lenders as confidential information can be very problematic for you if it gets out.
Privacy
We all know that privacy is the basic concern of the people of the present world. If the lenders are not considering the privacy of borrowers then you should keep a distance from them. All the private information including credit card details and confidential information must not be sent to any third parties.
Transparency
A lender must work in such a way that the entire process should be transparent. You should consider each and every step independently so that you may not feel regret. Transparency enhances the trust of the borrower and all the procedures would become easier and more relaxing.
Customer Support
Advance loan direct lenders provide different customer support services according to their own policies. You should consider a lender which provides quick customer support with error-free working so that the procedure may flow efficiently. Officials must be supportive so that any error can be wiped out on an immediate basis.
What Are Some Best Cash Advance Loans Direct Lenders?
Following are some of the direct lenders in the UK:
118 188 Money
It offers you to borrow money starting from £1000 and up to £5000 for 12 to 36 months. This is also an online direct Lender that offers different APR rates for the loans and does not charge any hidden fee.
CashASAP
CashASAP is another online available direct lender that lets you borrow a maximum of £400 if you are a new customer but if you are an old previously borrowed customer then it allows you to take up to £750. It offers a repayment period ranging from 35 days to 6 months.
CashFloat
CashFloat offers two types of personal loans. You can get a loan ranging from £300 to £1000 which you have to repay within 3 to 6 months with a representative 543.48% APR. For the customer who needs to borrow £1000 to £2500, it offers a representative 295.58% with a repayment period of 6 or 9 months.
DotDotLoans
DotDotLoans is also an online direct lender that offers you two different financial options. You can choose a short-term loan ranging from £100 to £1000 which you have to repay over 3, 6, or 9 months with a representative of 824.7%.
The second available option is taking a loan between £1500 to £5000 with an APR of 79.4% and this loan has to be re-paid up to 48 months.
Ending Remarks
Finding a cash advance loan direct lender is not an easy task as you may end up with a scam or maybe the loan will cost you a lot more than you have expected. But you don’t need to worry the given article helps you in this regard so you can choose a cash advance loan direct lender wisely.
