Commercial lenders usually place very high demands on the creditworthiness of debtors: if the income is not sufficient or if the borrower is still in the probationary period, a payday loan is usually rejected. Similarly, an entry in the Schufa problematic, even here installment loans are granted only rarely. The alternative: Apply for a personal payday loan online. If some hints are taken into account, nothing stands in the way of the loan.
1. Specify the purpose of use
A personal payday loan is not awarded solely on the credit rating. Above all, private lenders also opt for a license if the reason for the credit is comprehensible. Thus, a car loan has a higher chance of success than a pure consumer or frame loan. In addition, a car also represents a collateral that drops the interest rates. If the loan is used concretely for a vehicle or for debt restructuring, this should also be stated. Some lenders even offer the opportunity to describe the personal situation. This option should be used to strengthen confidence. For example, it is possible to request a payday loan to finance new furniture and kitchens as a result of moving.
2. Keep running time low
Not only the risk of a default has an impact on the level of interest rates, but also the duration of the repayment. The longer the term, the higher the effective interest rate. The lender can judge more and more in a larger time horizon how the capital market develops. For this reason, you should agree on the application as short as possible repayment period.
3. Record second debtor in credit agreement
In most cases, the online personal payday loan offers the possibility of concluding the loan agreement in the name of another debtor. This increases the payment security for the lender, which in turn makes the loan cheaper overall.
4. Provide collateral
If you want to apply for a personal payday loan online, in principle, no collateral is necessary. If such safety, such as a car, but offered, it should not go unmentioned. The safer the lender gets his money back, the more favorable the terms for the loan.
5. Perform a credit comparison
The conditions between the providers differ considerably even under the same conditions. Of course, to find the cheap offer for personal payday loans, those offers have to be compared extensively. Here, Finest Lender can be helpful: With just a few mouse clicks, the search for the top offer to personal credit succeeds – even under difficult conditions Finest Lender finds a cheap instant loan.