Green Machine Review

Green Machine ReviewGreen Machine says they offer fast and fair financial services, and they also say they have a 5 minute application and quick approval. These are claims we hear all the time when reviewing payday and loan lenders, so let’s see how well they live up to these claims.

This is a competitive industry, and we’ve seen lenders of all types vie for new borrowers. It seems they’re always clamoring for new business, and there are new entrants into the field, and emerging powerhouses in the financial industry. It’s getting harder and harder to determine which lender to go with, but in our opinion it seems that installment loans are a better choice than payday loans in most circumstances.

Of course you’ll still have to run the numbers to see if it makes sense for your particular situation, but most people find that paying off a loan over several months is easier than having to pay the entire loan plus the fees and interest on the following payday. It helps you avoid the payday loan trap, and makes it more likely that the borrowed money will help you through whatever financial jam you find yourself in.

Green Machine Review

Green Machine is an installment loan provider, which is a little better than being a payday lender. The rates will still be high because they know you are only going with them because you can’t get a loan from a bank. You still don’t need to settle for high fees, and you should always explore other options when taking on a new financial obligation. Because you are currently in a financial jam you’ll need to be careful not to extend that jam needlessly by getting into a bad loan. And since each lender has different rates, fees, and conditions, you should always check the fine print before agreeing to anything.

Secure Application
Even though their website isn’t much to look at, they do provide a secure server for you to use when filling out the application. This is one sticking point that you should never compromise with when using an online lender. You have to protect your sensitive data, and you’d be surprised that so many lenders expect you to submit this over an insecure connection. Expect the same security you get from Facebook or Gmail when you fill out an application that asks for your contact and financial information.

Focus on Fast
Green Machine says their application takes just 5 minutes to fill out, and that you’ll get an approval response fast. They don’t promise you an instant approval like most lenders do, which is good since most instant approval claims are bogus and you still end up waiting for someone to personally approve your loan.

They do say that most borrowers get approved within a few hours, which means that you can have the money in your bank account as soon as the next business day. It will also depend heavily on when your bank releases the funds to you, and there are different policies for each bank so you’ll want to check with them to see how soon you’ll be able to access your funds.

They are charging $25 for each $100 you borrow, so that is pretty pricey. A $600 loan will cost you $150, but that same loan at a payday lender might only cost you half that much. The trick is you might end up taking out the payday loan again and again, while only taking out the installment loan once.

Requirements
Because they offer installment loans and not payday loans, there are additional requirements, like having to be 21 instead of 18 in order to take out a loan. You also have to make a minimum of $1000 in order to be considered for a loan. This is different than most payday lenders which only require you to be 18, and which have lower monthly income requirements in some cases.

Our Recommendation
Green Machine is getting our try rating because they are offering installment loans which in many instances are better than a payday loan and will help you out better and not become as much of a burden. By being able to pay them off over time you’ll have the advantage of keeping more of your take home pay than you would if you got a payday loan.

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