https://padlet.com/noah_geist/17fyitly6pli Made with ♥ en-us 2016-10-23 00:25:35 UTC 2016-11-02 20:53:32 UTC hello@padlet.com noah_geist https://padlet.com/noah_geist/17fyitly6pli/wish/132516373 Payday loans are a "short term, high cost loan that gives cash strapped consumers the money they need until their next paycheck" (Textbook pg 2). These payday loans don't care about your credit so it doesn't impact credit score. When the loaner does not pay off the loan they are charged another fee and so on.]]> 2016-10-23 00:28:27 UTC https://padlet.com/noah_geist/17fyitly6pli/wish/132516373 noah_geist https://padlet.com/noah_geist/17fyitly6pli/wish/132516409 Bank loans are safer due to a lower level of interest but require a "minimum credit requirement" (textbook pg 3). This means that when then consumer does not pay back the loan they will decrease their credit score. ]]> 2016-10-23 00:31:30 UTC https://padlet.com/noah_geist/17fyitly6pli/wish/132516409 noah_geist https://padlet.com/noah_geist/17fyitly6pli/wish/132516645 I would take out a loan of $300, from the Payday loan there is a $45 fee so receive $255. There is also a 15% fee "cars range from 4-7%" (textbook pg 3). Banks run from 7-8% for loans. Based on the interest rates from both these selections I would pick getting a loan from a bank. ]]> 2016-10-23 00:45:18 UTC https://padlet.com/noah_geist/17fyitly6pli/wish/132516645