If you want to get a payday loan, you will need to strongly consider using a direct lender as opposed to a broker. The “middleman” websites that connect borrowers with lenders are largely just scams. You will need to know some of the best reasons to use a direct lender before deciding either way. The information will allow you to make a good informed decision. You don’t want to go forward before you closely examine all of the facts.
- No Fees
One of the best reasons to go through a direct lender for a payday loan is that you won’t have to pay any fees. While some of these lenders do charge certain fees, there are plenty that don’t. If you decide to use a broker website to find a lender, you will have to pay some sort of fee. This is just more money on top of what you are already spending on the loan. When you are looking for a direct lender, make sure you find one that does not charge any fees. This will help you keep the money you spend to a minimum.
- It’s a lot Simpler
Going through a direct lender for your payday loan is a lot simpler than using a broker. All you have to do is just fill out an application and wait for a response. Once you have evaluated the loan agreement, you will return it with your signature. After that the money is transferred right into your bank account. With a broker, you will need to fill out an application and wait for them to find a suitable lender. The whole process of using a direct lender is a lot more straightforward.
- You’ll get Your Money Faster
A direct lender can help you get the money you need much faster than a broker. The sooner you get your money, the sooner you can cover any expenses you have to pay. If you are in a hurry to pay for something in particular, you need to keep this in mind. There is no point in waiting any longer than you have to for your money. The average direct payday lender can help you get your money within several hours after you submit your application.
- You Have Complete Control
You don’t want to depend on anyone else to find you a lender for your payday loan. It is important that you do the research yourself so you can make the right decision. If you want to know exactly who you are borrowing from this is important. Make sure that you take the time to look into every detail of each lender before choosing one. This means finding out how long they have been around and what their reputation is like. Look up reviews for some payday loan lenders so you can find out what their own customers say about them.
- Better Customer Support
Those who use a broker website to obtain a payday loan usually can’t count on getting help when they have a problem or question. You need to know that you can get assistance when necessary. With a direct lender you will likely have a phone number you can call, or at least an email to send inquiries to. Some of these lenders offer live chat customer support right on their website. This is a straightforward and easy way to get help with anything related to your loan. The overall quality of the customer support is a very serious thing to consider.
- You Might Not Get the Best Deal
One of the best reasons to avoid payday loan brokers is that you might not get the best deal with the one you choose. When you take the time to look into different direct lenders and shop around, you can easily get a great deal for yourself. You should never rely on any business to do this for you, because there is too much at stake. While it might take a little bit of time and research, it is well worth it in the end. Compare interest rates from a few different lenders so you don’t spend more than you have to on your loan.
You will quickly find that going through a direct lender is the best option when you are in need of a payday loan. Brokers claim that they can help you find a lender to match your needs, but there are lots of things to consider. You might not always get the best deal, and it will cost you. If you are looking for a payday loan, you probably need to save all the money you can. The simple fact of the matter is that a direct lender is pretty much always the best option.