With payday loans being as ridiculously expensive as they are, it can really pay off to spend the time shopping around. It isn’t too tough to find low cost payday loans once you know what to look for. The rates are normally buried somewhere in their fine print, but it’s pretty easy to spot them.

Payday loans are an expensive venture. From the lender’s perspective, if they’re going to lend money to anyone with a job, a bank account, and a pulse, they’re going to have to charge more to cover all of the people that are going to default on the loan. Extra resources are needed to track those people down, or the loan is sold at a loss to a collection agency. This leads to you having to pay more from the outset. Also, be sure that you fully understand the terms of your loan so that there are no surprise fees that you were not expecting. Low rates might not always equal low fees.

Qualifying for fast cash this way is really easy to do. You’re going to need a job that earns you over a thousand bucks a month, and a checking account. Paycheck stubs will verify your income. The checking account is so that you’re able to pay the loan back without heading back to the loan office, you’ll write them a post dated check to be cashed on the due date. Most loans range from $100 to $1500, but truly depend on how much you make at your job. The lender will normally go as high as 25% of your gross earnings.

To save money upfront on your loan, find a lender that is running special rates for new customers. This is pretty common among the big lenders (Think Cash, Check Into Cash, Check n’ Go). You can easily take advantage of their marketing tactics by only using the company once, and never getting another loan again. Obviously, this means that you have to be responsible with your finances and never need a payday loan again!