Our review of Cash4unow
Launched in 2011, Cash4unow is an independent Instalment Payday Loan company based in Leeds. They believe that people should have more options to help manage their budget and want to bring the short-term lending world forward with their flexible and responsible approach to lending.
Cash4unow offer a fairly expensively priced APR in the high-cost short-term marketplace. However, like all high-cost short-term lenders, they are capped at charging no more than 0.8% interest per day of borrowing. They pride themselves on being flexible and responsible, and their choice of up to 6 months repayment may be a decider for some people. Their belief of responsible lending extends to the importance they place on their consumers being able to speak to a real, trained person in the UK whenever they have a question.
If you're considering taking out a Cash4unow loan, the usual high-cost short-term loan health warning applies: ensure you can afford the repayments before you apply. If you do miss or are late with repayments, it will show up on your credit file and make your financial life more difficult in the future. If you find yourself struggling to make your repayments make sure you let Cash4unow know in case there is anything they can do to help.
Overall verdict: With Cash4unow having quite a high APR, it is worth comparing your options before you apply. But if you do apply with Cash4unow, remember to ensure you’re able to afford your repayments before you apply.
- Fixed monthly repayments
- Provisional decision within 15 minutes
- You must have a bank account
- You must be over 18 years of age
- You must have a minimum income of £600 per month
- You must be a UK resident
- You will need a UK bank account with a valid direct debit associated to it
- Maximum APR 1432%
- Arrangement fee: £0
- Early repayment fee: £0
- Late payment fee: £15
Cash4unow offer loans between £150 and £1,000 over loans periods between 3 and 6 months, and have been since 2011. They promise to give you a decision in principle within 15 minutes of your application and they don't charge early repayment fees. Their representative 1314% APR is pretty standard in the high-cost short-term market.
To apply for a loan, you have to fill in one of their secure application forms. If you need any assistance with the application, then you can ring one of their UK based advisors on 0113 887 3434. Before they can process your application, they have to provide you with important information known legally as an ‘adequate explanation’. This will help ensure you that the credit agreement is suitable for your needs and financial situation.