There are several different types of payday loans and your individual needs and financial situation will determine the kind of cash loan will best benefit you. Some companies do offer one hour payday loans that, as the name suggests can be processed within the hour, while others offer cash advances that require 24 hours to be completed. When you need money quickly, but not immediately, it may be wise to opt for an overnight cash advance and there are several reason why these loans are a better option in these situations.
The main reason why people will choose an overnight cash advance over a one hour payday loan is that these loans are generally cheaper than instant cash loans. The reason for this really comes down to supply and demand. Instant cash loans are a specialized service and therefore there are not as many lenders who offer these kinds of payday loans. When people are in desperate need for cash in a hurry they will generally accept higher fees and therefore these loans do cost slightly more. Conversely, there are many more lenders that can offer cash overnight and this has resulted in a more competitive market. People who are in need of an overnight cash advance can take advantage of this competition by accessing more companies and therefore will have a better chance of obtaining lower rates.
When you are looking for an overnight cash advance you will no doubt be in a position where you have the time to shop around for the best deal you can possibly get. There are a huge number of lenders online who are trying to attract new customers and will offer many perks in order to get you to sign with them for your overnight cash advance. As a consumer you need to take advantage of this and compare as many lenders as you can in order to get an overnight cash advance at the cheapest possible price around.
When you need to get a payday loan, one thing you will want to avoid is leaving things to the last minute. If you do this it may mean that you have no choice but to get your cash through a one hour cash loan and therefore you will probably end up paying a little more than you need to. If you make a quick decision to get you money through a cash advance loan, then you will be able to get a cheaper rate because you will be able to access an overnight cash advance. Simply waiting that extra 24 hours for your cash can certainly save you money.
If price is a priority for you over time when it comes to your payday loan, then you may find that you are better off getting an overnight cash advance rather than taking out a loan that offers instant processing. After all, when it comes to both these types of cash advances there really is little difference other than the time it takes to access your cash.