Sonic Payday Loans - Payday loans: Better than the other loan alternatives?

Payday Loans are an ideal source of quick cash for employed people with emergency cash needs. If you need some cash in a hurry and can repay the amount borrowed with the fees within a short time interval, payday loan is the ideal solution for you.

Payday industry is growing at a great pace. Customers are finding it fast and convenient to apply for and secure these loans. Whatever maybe the view of the consumer groups, the payday loan industry is here to stay because of its growing popularity among the people.

Fast to secure.
You do not need to deposit any collateral security.
Instant and hassle free application.
Overnight procurement of money.
Every thing is done online and is completely paperless. You do not even have to walk down to the payday lender's outlet.
No credit check is required. History of bankruptcy does not compromise your chances of securing a loan.
You do not have to state the reasons for taking the loan.
Because of the competition, you are guaranteed to find some of the best rates among payday lenders. Where else would you find such huge options to choose from?
Special customer referral programs and bonus point rewards for regular customers. Borrowing money from a reliable source is always advisable. Asking for a loan from your friends or relatives is a good option. However, if you are not able to payback on time, bitterness amongst your relations will follow. So it is better to take a loan from the payday lender. AMPM Cash is always there to help you to get quick money to make it through to your next paycheck. A controversy surrounds the payday loan industry. Critics discuss the APR to be unusually high. It should be understood that Payday loan is a high risk loan on the part of the lender. So, the APR rate has to be kept high to justify the high risk. Still, if a rational calculation is done, the APR on the payday loan comes down as pretty low among all other forms of loans. While availing a short term unsecured loan, you must go through the various options for the highest benefit which a loan would offer you with. It should be prudent on your part to calculate the total cost of the loan realistically. Let us to illustrate with an example.

Example:You are days away from your paycheck and suddenly you need $100 to prevent a check you have earlier issued for some services, from bouncing. You take a $100 loan from AMPM Cash and in your next payday, pay back $117. No credit checks, no hassles and you get the loan overnight. With the cash advance from AMPM Cash, you have avoided the bounced-check fees or late payment charges, which otherwise you had to pay. Also your reputation with the company to whom you have written the check, remains intact and all these with a little help from AMPM Cash. This way you have actually saved some money on the whole process while keeping your credit rating and your financial reputation intact. Just imagine what would have happened, if you would not have been able to get the cash quickly. The $17 fee on your $100 loan amount is the charge you pay for this friendly help with which you have so gracefully settled your financial emergencies.

However, if you are still not satisfied and would like to go deep into the calculation of the APR, allow AMPM Cash to provide you with a little help:

	PAYDAY LOAN	ATM WITHDRAWAL	CREDIT CARD BALANCE	UTILITY BILL WITH LATE CONNECT FEE	CHECK WITH NSF AND MERCHANT FEE
Amount borrowed	$100	$100	$100	$100	$100
Fees for 14 days	$17	n/a	n/a	n/a	n/a
Fee for cash withdrawal	n/a	$1.44 per $100 cash withdrawal	n/a	n/a	n/a
Late fees for 14 days	n/a	n/a	$29	n/a	n/a
Reconnect Fees for 14 days	n/a	n/a	n/a	$47	n/a
NSF and Merchant fee for 14 days	n/a	n/a	n/a	n/a	$49
APR	443%	526%	756%	1225%	1278%

When you compare the rates of SonicCash.net with that of the other loan alternatives, you can see the value for money which we offer to you. Be prudent, calculate realistically, payoff promptly and you have the most powerful financial tool in your hands.