Jupiter Payday Loan Reviews

Jupiter Payday Loan reviewsJupiter Payday Loan wants you to know that they are a direct lender. This means that they will be the ones depositing the money in your account, and they won’t just be forwarding your application to other lenders. This is a big distinction, as many websites that try to look like lenders are really just lead generators.

When you deal with a direct lender you get typically get a faster response because they’re the ones that are doing the qualifying. The only drawback is that if you don’t meet their requirements you’ll have to go on to the next lender and fill out another application and go through it all again. This can get tedious so sometimes it might be easier for you to just go with a matching service that will find you a lender with just one application. They end up having a database of lenders that are in their network and they qualify you with one of them.

But back to Jupiter, they are showing rates that may not have been updated in 2010, and that are not very competitive in some states. For example, they have a $100 loan going for $130 and the same loan if taken out in the state of Michigan would only cost $15.45. The same can be said for a loan of $500 which they’ll want $650 back on your payday but that same $500 loan would only be $565.45 if taken out in Michigan. Other states have other maximum loan fees, and this is just one example, but it does show that their rates are high.

Jupiter Payday Loan Reviews

If the product is the same, money, then why would you ever want to pay more for it than you have to? This is why states put limits in place so that lenders can’t charge these super high fees. The rates are already high, and paying $65 to borrow $500 for just two weeks is astronomical. You wouldn’t want to pay $150 for that same money, that’s like throwing $90 away for nothing. It’s definitely in your best interest to check out the rates for payday loans in your state to see if you’d be paying extra fees to do business with them.

Lots of Competition
YOu should never feel like you have to do business with a particular lender, in this case Jupiter Payday Loan. There are so many lenders out there that want your business and are able to give you competitive rates and terms to fit your situation that you should never settle for less. You are actually in the position of having leverage even though you might feel like you’re in a financial bind. Since you’re going to be paying a lot for this money there are plenty of people that want to be the ones that you take the money from.

Shop Around
That’s why it’s always best to check out at least 10 different online lenders, comparing the rates, the customer service, and the terms before making your final decision. That way you know you’re getting a good deal and didn’t just pick the first lender you stumbled upon that offered to lend you some money. For example, you might find a lender that offers better rates, and better terms as far as when you have to pay the loan back. This can make a big difference to the virtual APR that you’re paying, and you might even be able to find a lender that accepts installment payments.

Our Recommendation
We would recommend tossing this one off your list of lenders you are considering, as there isn’t anything they are offering that you can’t find elsewhere for less. They just aren’t bringing anything to the table that brings the wow factor the way that some of their competition does. Since they are doing most of their business online they are lumped with all of the other online lenders that have things lined up better, and more clearly illustrate exactly how the process works, and make a stronger case to do business with them than Jupiter does.

They might make a good back up choice, but not after you’ve exhausted your other possibilities first. The more time you spend making a good choice on the front end, the less time you’ll spend later with a lender you don’t really like.

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