There isn’t an easy answer to the question whether a payday advance in NZ is a good idea since it all depends on your unique situation. In some cases, the answer is YES but in other, the answer is a definite NO.
At Zebra Loans, we take pride in the fact that we are responsible lenders of payday advances. We will never approve an application if a payday advance is not the right option for you.
When is a payday advance a bad idea?
Unable to make repayments on loan
If we feel that you won’t be able to make required payments on the loan within the specified time period, your application will not be approved. We will never allow you to get into debt even further.
At Zebra Loans, we do not suggest payday advances for non-urgent situations like paying for a weekend away or buying non-essentials like a TV.
So when is a payday advance in NZ a good idea?
Difficulties like a broken down car, medical emergencies or break down of essential day to day appliances qualify for a payday advance. If you can go without it until your next payday, you shouldn’t apply for a payday advance since interest is charged on all cash loans.
A payday advance will save you money
In the event that you need an advance to pay a dishonour fee or if you could save money by making early payments to creditors, a payday advance might be a good idea. But make sure that it really is the best option and not something you can use your overdraft for, by calculating your interest and repayment on our website homepage. If it will save you money, then a payday advance in NZ is a good idea.
If you only need to borrow a small amount
The process of applying for a payday loan vs a personal loan is much quicker and convenient. So if you only need to borrow a small amount for a short period of time, a payday loan in NZ is the way to go.
Borrowing an amount you can afford
Since you are the only person who truly knows how much you can afford, it is vital that you only borrow the amount you know you’ll be able to repay within the required time period. As a responsible lender, we will calculate affordability but we need you to be a responsible applicant as well an provide accurate information.
If you require a payday advance in NZ, get in contact with one of our consultants today