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Published 2018-07-26 09:00:00

Three reasons why short term borrowing through a broker site is far better than a price comparison site

Borrowing money sometimes feels like a minefield of dodgy loan sharks and poor interest rates, but there are sites out there designed to help you to choose the best short term loans or payday loans deals for your circumstances.

It is always possible of course to trawl through your local business directory and call each individual loan company and ask them for their prices and interest rates on the many financial products they may offer, but this could take you days, if not weeks and you may still be in the dark at the end of your long search as to which deal is the best for you.

This is where both price comparison web sites and brokerage web sites such as Cash Carrot come in. Although both are useful when searching for short term loans and payday loans and comparing prices, brokers services can provide you with more of a hand holding experience than price comparison websites alone.

Below are three reasons why you should give some serious thought as to useing a brokerage service such as Cash Carrot over and above price comparison websites. But do not get me wrong, price comparison sites are useful and have their place, and sometimes it is useful to be able to compare prices without having to commit to anything, but in the case of financial products, it is usually considered a better option to use a broker.

A broker can negotiate you a better deal

Brokers have the ability to trawl through many lending companies and approach them for better deals on your behalf. Cash Carrot for example, asks you for your specific information in order for them to create the best payday loans and short term loans package for your circumstances. Something that a price comparison site is not able to do.

A broker will apply for you

With a broker you can expect a complete packaged deal with the money waiting for you in your account within minutes once you have passed the eligibility checks and signed the agreement.

On the other hand, a price comparison website simply furnishes you with a list of lenders that you will then need to contact and apply for their products directly, costing you time and perhaps peace of mind as each company will be out to make a sale, as opposed to speaking through a broker who understands the financial world a lot more than someone outside of the field.

A broker can offer you a tailored service

A price comparison website does not have the capabilities of a broker to give you anything more than a list of short term loans and payday loans companies and prices. It is up to you to approach each company directly and pick a product that is best suited to you. A broker however, will take your information and approach lenders on your behalf who will put together products and packages for you which far better suit your needs. This will all be done for you within minutes, as opposed to what could be hours of your time should you wish to do it yourself

Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk