How to Find a Short Term Loan From a Direct Lender
If you need money in an emergency then you may feel that finding a short term loan direct lender will be best. You might have a company in mind that you would like to use, perhaps because you have seen them advertise or have used them before. You might also think that you might find that a lender that you find through a comparison website or a broker could be more expensive. However, it is worth making sure that you have a good understanding how these work and whether they really will be more expensive or not. If you are not sure about the difference between finding a loan, even just for £100 with a comparison website, direct or other means then it is worth understanding this first.
Ways to Apply For Short Term Loans
- Direct lender – a direct lender short term loan refers to you apply directly to the short term loan company yourself. This means that you have to choose a lender and apply yourself. This is something that many people do and are happy with. It can make the process very simple if you have a lender in mind. However, if you are looking to find a lender that is cheap or good value for money or has a good repayment schedule or something else, then you will have to do a lot of research to find the lender that you want. This might be something that you are very happy to do, but it could be the case that you do not have the time to do this or perhaps that you do not have the confidence either. It is therefore good to understand what the alternatives are and the advantages of these so that you can decide whether this is really the method that you would like to adopt.
- Comparison website – another option is to use a comparison website. These will allow you to put in the details of the loan you are looking for, such as how much you want to borrow and how long for and they will give you a list of lenders that could help you. You will be able to compare them on cost and then chose which you think will be most suitable. This is quicker than searching the details of all of the lenders yourself and so have an advantage in this. However, comparison websites make commission on the lenders that they recommend. This means that they might only recommend lenders that give them good commission and not necessarily the ones that will give you the best deal. They are also likely to only compare a limited amount of lenders, so there may be less to compare than if you di the research yourself. It is also likely that they will only compare them on price and so if you are looking for value for money rather than the cheapest lender, you may not find what you are looking for.
- Credit broker – a credit broker will work in a similar way to a comparison website. However, credit brokers such as Boutell can be a lot more helpful. This is because you can tell them all sorts of information about what you are looking for in a loan, rather than just the cost and they will be able to look for you and find the most suitable. So, they can not only look at cost but also the repayment terms and things like that and will offer you a loan that will fit in with the criteria that you are looking for. This will significantly speed up the process of finding a lender and could mean that you will end with being recommended a perfect lender that you would take a long time to find on your own or may not even come across as you may just have not had enough time to investigate all of your options. They will be able to do this quickly as well, which means that it will not delay you significantly in getting the money that you so desperately need.
Choosing The Best Method For You
Which method you choose is very much up to you. It is worth thinking about the advantages and disadvantages of the different methods and which is most important to you. For example, if you use a company then the cost will be more because of the commission that they get, compared with going to a short term loans direct lender which will not charge it. However, the research that they do for you and the time that they save you could be worth that extra cost. They might even be able to still find you lenders that are cheaper than you would have paid; had you gone with the well-known name lender that you had heard of or with the one that came up at the top of the search engine you used.
Once you have decided on which lender to use, you will have to know how to find the right loan for you.
How to Find Short Term Loans Using Different Methods
- Direct lender – if you want to go direct then you will need to do a lot of searching. It is important to know what lenders are available to you, what they are offering and how much they are charging so that you can compare them. You can use a search engine for this and search for short term loans direct lender and see what comes up. Then you will need to go to the website of every lender and find out all of the information that you need to know. It might be that you want a lender that offer you repayments over 6 months, a competitive price and good customer service. You will need to check each lender to see whether they can offer the six month repayments and then compare them on price. You will then need to contact each to find out what their customer service is like or look at review websites to see whether you can find the information from there.
- Comparison website – a comparison website will take some of the hassle out of the work. They will compare lenders on price which means that you will then be able to check out the cheaper ones to see whether they offer the other things that you are looking for. They might even have reviews of some of the lenders which you can read in order to help you make your decision. You may have to find alternatives websites though, to find reviews. You will still have quite a bit of work to do to get all of the information that you need. It is also worth noting that comparison websites will not compare all lenders and so you may be limited in the choice that you get using this method.
- Credit broker – a credit broker will make the task a lot easier as they will compare the different online loan offers for you and offer you the one that is most suitable for you. If you want to find a credit broker then this should be a fairly easy task as they are rarer than lenders and so they will be easier to find on search engines. You will need to choose between them and think about which will be the best for you. It can be tricky to know whether one will better than another but you might be able to find review sites which will help you. It should not take you that long though to do your own research and look at the websites of the various brokers to see which you think will look to be the best for you. You could even ask each of them to recommend a loan for you and then you will be able to choose between their recommendations.
Make Sure You’re Getting Value for Money
It is easy to think that it will be much better to choose a short term loans direct lender because it will be quicker to find them and it could even be cheaper. However, if you want to make sure that you are getting good value for money then it could be wise to spend a bit more time comparing the different options that are available to you. You are likely to find that this will be really time consuming and so you will need some help with this. It could help to use a comparison website or a credit broker to help you. These have advantages and disadvantages and you will need to think about whether you think that they will work for you. Whatever you decide to do, you will hopefully be able to find a suitable loan which will offer you good value for money in a reasonably fast time. It is certainly worth spending some time doing this sort of research as it will mean that you will be more likely to find the loan that suits you the best.