Internet Payday Loans: Tricks And Tips

Written by Joel Walsh

Online payday loans make money available when you need it fast. But many websites offering these cash advances will try to trick or trap you into paying huge interest. Find out how to beat online payday loan lenders at their own game.

When you need money today, and not just a week from today, online payday loans can be a salvation. But for many people, these loans, also called payday advances or sometimes just cash advances, have become a nightmare. Here'srepparttar good andrepparttar 150929 bad of getting an online payday loan:

• Good: applying for a payday advance or other cash loan online rarely requires a credit check. There's also virtually no waiting to get cash, and no collateral, down payments, or paperwork headaches required.

• Bad: online payday loans’ interest is close to or beyond outrageous, andrepparttar 150930 true cost is often hidden inrepparttar 150931 language ofrepparttar 150932 agreement. Some payday loans have chargedrepparttar 150933 equivalent of 600% annual interest!

• Really bad: some online payday loan lenders are not trustworthy. In some cases, lenders have made unjustified charges to clients' bank accounts. Just remember: they can take money out of your account just as easily as they put it in. Anyone can open a website, so be sure to check outrepparttar 150934 reputation of an online payday loan lender.

Online Payday Cash Advances: Tricks ofrepparttar 150935 Trade

As with everything else in life that involves money, if you don't want to get cheated on your online payday advance, you had better know everything you need to know before applying. Here are some dangers to watch out for:

• Interest and fees. Hitrepparttar 150936 "back" button when you get to websites that don't tell yourepparttar 150937 interest rate and all fees, including late and penalty fees, or try to hide this information. Legally, all payday advance lenders are required to provide this information.

• Expensive no-interest loans. Some online payday loan companies offer no-interest loans for first-time borrowers. These really can be great, but beware: oftentimes these loans stop being free if you pay even a day late.

Auto Loans: Don’t Dig A Money Pit In Your Garage

Written by Joel Walsh

Chooserepparttar wrong auto loan and you might drastically increaserepparttar 150928 chances of defaulting and losing your car. Find out step-by-step how to avoid a money pit.

Car loans are certainly less costly than home mortgages, student loans, or other kinds of loans. So why do so many people end up defaulting and losing their cars? Find out these hidden dangers:

Biggest Hidden Car Loan Danger: The Inherent Money Pit

Unlike home mortgages, student loans or other big-ticket loans, car loans are inherently money pits. A house can build equity; higher education can increase earning potential; even jewelry can sometimes be re-sold for as much as was paid for it. If you borrow to buy one of those things, you may eventually get a return on investment. But every single car loses significant value and keeps losing it as time goes by.

Solution: spend as little on your car as possible.

Of course, in order to spend as little as possible overrepparttar 150929 life ofrepparttar 150930 vehicle, you need to get a well-made, fuel-efficient car, rather thanrepparttar 150931 one withrepparttar 150932 lowest price onrepparttar 150933 windshield.

But a pickup truck, SUV, sports car, or “luxury” model is a guaranteed money-loser. Don’t worry about what other people will think. Think about it: when wasrepparttar 150934 last time you saw an expensive automobile and thought, "I really like and respect whoever owns that!"

The best buy? Many economists actually recommend buying a used car that's a year or two old. That way you can actually benefit fromrepparttar 150935 fact that cars only drop in value. Even a car that’s just six months old may offer you a substantial savings. Just have it inspected thoroughly so you don't lose what you've saved on maintenance payments.

Hidden Car Loans Danger: Dangerously High Monthly Payments

Unfortunately, most people never figure outrepparttar 150936 total cost before signing onrepparttar 150937 dotted line. They end up staying up late at night trying to figure out how to make ends meet. They live in smaller houses. They skip going out at night. They don’t go on vacation.

All that sacrifice to have a brand-new SUV inrepparttar 150938 driveway!

Take a hard look at your finances, and figure out how much you can pay total each month for your car. Be sure to take into account insurance, tax, maintenance, and fuel. Usually, when people actually do calculaterepparttar 150939 total monthly cost ofrepparttar 150940 car they’re considering buying, they’re amazed by how high it is.

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