Lenders price the same borrowed dollar in very different ways. Pick the shape that matches your paperwork and the fields below will match it.
A $15 fee per $100 borrowed for two weeks is about 391% a year. Washington limits payday loans to $700 or 30% of monthly income and allows an installment plan at no extra fee. Ask for it in writing before the due date.
A $500 washer at $30 a week for 18 months costs about $2,340. The weekly payment is small, which is the point. The total is what matters. Ask for the cash price and the total of payments; both must be disclosed.
At 3%, cashing a $900 paycheck costs $27, about $700 a year if you do it every two weeks. Many credit unions open an account with no minimum balance and accept an ITIN or consular ID.
The lender holds the title to your car. About one in five borrowers loses the vehicle. If you need the car to get to work, the real cost of missing a payment is your income, not just the fee.
The posted fee is only part of the cost. Providers also add a margin to the exchange rate. Compare the amount actually received, not the fee. Sending less often in larger amounts usually costs less.
