Most California residents hope they’ll never have to look for a payday loan company. These loans are expensive, and you can often find a bank or personal loan company that offers effective financing options.
Sometimes, you run out of options and must find the best online payday lender that provides cash in California. When you get to this point, an online loan is a choice. In an ideal world, you don’t need a payday advance. But it’s good to know a payday loan is available in California if you need it. Here in California, we have a few online choices for getting a payday or installment loan. Even though you have many options, you’ll still need to decide on a lender. Let us help you make the process easier by breaking down some tips so you can better understand what it takes to qualify.
Tips to help you find the best payday loan offers in California:
Shop around online to find a great deal. Lenders are looking to offer online payday loans to qualified consumers in California. Don’t settle for the first lender willing to give you a loan! Spend a few more minutes and find out the rates and terms for another online payday loan from another lender. That way, you can compare the options and make the best decision for your financial situation.
Use an online payday loan calculator to break down the interest rates. We all know payday loans in California carry high-interest rates. Payday loans are an emergency option for a consumer with nowhere else to turn. That doesn’t mean you will be charged more than the going rate. Compare your terms to those of other lenders who offer California payday loans! Also, check comparable rates with local companies in your neighborhood that claim to provide the best cash advances. Most big cities have dozens or even hundreds of places to meet someone. Los Angeles alone has hundreds of lenders spread out over the city. The San Francisco Bay Area has far fewer, but you can still find a company that offers in person payday loans in San Francisco if you take the time to find a direct lender. Do your research, use an online calculator to crunch the numbers, and then decide.
Ask your friends or relatives for a referral to a company that offers online payday loans in California. People you know will usually give you the best feedback and advice when choosing a quality lender. Tap into your social network and ask people for a referral to a California lender. A lot of people have been in your situation!
Make sure the lender has a license to offer California loans. Not just online advances but also at an office where you can walk in and meet with them. This is very important. First, see if your lender has an active California Department of Business Oversight license. The State of California regulates online cash advance companies, but that doesn’t mean there aren’t companies out there that aren’t licensed. If you take out a loan with an unlicensed lender, you won’t have any protection from the State of California if things go wrong. Also, that lender may not be licensed by California to offer online payday loans or car title advances. Don’t question your financial future. Go with a lender licensed by the State’s Department of Finance.
Find out if there are any extra fees or charges. We’ve all heard the bad stories about people who take out a payday loan only to get gouged by fees and costs they didn’t know about or weren’t told about. Don’t be that person. Make sure you know exactly what the fees and interest rates are. Besides knowing your rates, you can also compare those numbers to other services that offer payday loans in California.
Get a copy of the online payday loan contract. Like the tip above, you must know precisely what you’re getting into before signing the loan contract. Some online payday advance firms will try to cram all sorts of things into your loan contract, hoping you’ll never read it. Take the extra few minutes and read your loan contract!
Find out what other loans the company offers besides online loans. It doesn’t hurt to ask what other options a company may have. For example, you may get a payday loan with a company, only to find out they have an installment loan option that you have a better rate. 
Most companies that offer online loans in California will also have a few other loan programs.
Ask them if they have any promo codes or online coupons. Did you know many payday lenders in California have active promo codes and discount coupons? Most companies have coupon codes that you can use to get discounts on your advance fees. Most lenders will issue coupon codes for 10%-30% off your cash advance fees before you apply for a payday loan. Search online for a discount payday lender with the keyword “coupon code” to see if anything is available.
Do an online search of companies that offer California payday loans to see if they’ve had any legal issues. Do this for payday loan services and installment lenders. Do a background check for any online company you work with on a financial level. You can usually type the company name into any search engine, and you’ll know quickly whether they’ve had any legal issues.
Make sure companies that offer discount payday loans and coupons have your financial interests in mind. Of Course, this is easier said than done when you involve payday loan lenders. Most companies are out to make money, but that doesn’t mean they should rip you off. Take your business elsewhere if a short term lender wants to offer you more money than you need. Remember, other choices, such as an installment loan or a friend’s cash advance, are available. Be sure you only borrow what you can afford. Some online lenders will try to offer you a loan that’s more than what you need. We discussed this issue in our latest article, How much should I borrow when taking out a California payday loan?