How do cash advance places work?
daniellelair10607 asked:
I am thinking about borrowing about 750$ from a cash loan place. I was wondering how the repayment thing works and how much interest would i be paying?
Be realistic with your answer please !!
You will be paying around 200% interest…..seriously.
It always varies but it's usually pretty high interest; not ever making it worth it unless you need the money immediately and are getting paid in the next few days.
hi
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Good luck!
Ryan M is probably right, 200% APR which is about $28 per week or it could be more. But many people can never afford to pay more than the interest so in a year they end up paying over 200% interest and they still owe the full amount of the loan. If you have no other way to borrow money than to get a payday loan you'd be better off not borrowing.
cash advance is a pay day loan.when ever I'm in need of some money i will take this loan.the interest is little high but still i use it because when ever i want to borrow from it it will pay immediately.you can check how it works from my source.