Cash Advance and Payday Loans in Wyoming
No matter which way you slice it, a cash advance is going to be expensive. Even in Wyoming, where the rate cap is relatively low, you'll still end up paying a decent chunk of change. To estimate loan fees, look at your state's cash advance laws – local finance charges tend to be relatively close to state rate caps. When you're ready to get started with your loan request, head on over to our secure loan request form.
Wyoming Cash Advance and Payday Loan Rules and Regulations
Wyoming has very few regulations on payday loans. There is no minimum or maximum loan amount in Wyoming. There is no minimum loan term, but the maximum term is one month. Rollovers are not permitted. It is up to your lender to decide how much they are willing to lend you and for how long.
The maximum finance charge is either 20% per month or $30, whichever is greater. The average APR is 260%. Rollovers are not permitted, but borrowers can obtain multiple loans at once.
Wyoming Cash Advance Lenders by City
To make your search for a lender in your area easier, we've compiled a list of local cash advance lenders in Wisconsin's top five major cities:
Cheyenne- Advance America, Check Into Cash, Rocky Mountain Pawn
Casper- Check Into Cash, Advance America, One Main Financial
Laramie- UniWyo Federal Credit Union, Advance America, Money Lenders
Gillette- Advance America, Check Into Cash, One Main Financial
Rock Springs- USA Cash Services, Advance America, A & A Check Cashing, LLC
How to Get a Payday Loan in Wyoming
Even if you don't live in one of these major cities, online lenders offer application forms on their websites.
Online lenders may be quick and easy options for obtaining a payday loan. These lenders are in business to provide loans to those who may have problems securing them from other sources. They may also be an option for borrowers with lower credit scores. Although lenders run a credit check, it may not be the sole determination of whether they may offer you a loan. Often, payday lenders consider other factors that indicate your ability to repay the loan, such as a source of steady income.
Online payday loan companies servicing Wyoming are typically easy and fast. Once the initial application form is filled out and sent in, most companies may approve or deny the loan within minutes. Some may require the borrower to speak with a representative for any additional information. If approved, the funds can be available in as little as one business day.
Installment Loans in Wyoming
Installment loans are one type of short-term cash advance. Installment loans may be an option for borrowers seeking more money or a flexible repayment schedule. Many lenders in Wyoming may lend up to $5,000 in installment loans. Installment loans are repaid in equal monthly payments.
Installment Loan Regulations for Wyoming
Installment loans follow the same regulations as payday loans. To learn more about Wyoming's payday and installment loan laws, visit the Wyoming Division of Banking website.
Requesting Title Loans in Wyoming
Wyoming residents can also consider requesting auto title loans in times of financial emergencies. Title loans are small-dollar loans that are taken out against a borrower's vehicle title. Loan amounts typically range from $100 to $5,500, or 25% to 50% of the car's value. Title loans are taken out for an average of 30 days.
Car Title Loans Laws in Wyoming
Title loans are prohibited in the state due to a 36% rate cap and a maximum loan term of one calendar month. Wyoming is one of many states across the United States with strict limitations regarding title loan lending. These loans can come with high APRs and fees. In some cases, APRs for title loans can be as high as 300%. This comes out to around 25% monthly interest charges. And because these loans are borrowed against titles, borrowers also risk vehicle repossession. The Consumer Finance Protection Bureau found that one out of every five title loan borrowers lost their car to repossession for failing to repay their loans.
Title Loan Requirements
Wyoming consumers can request a title loan at a storefront lender or online. While requirements vary, lenders typically request the following:
Clear vehicle title
A valid form of identification
Proof of income
Proof of residency
In some cases, lenders may require the vehicle's registration
If you're searching for financing in Wyoming, we may be able to help connect you to a lender in our network. Since 2015, we have assisted over a million consumers in their search for emergency funding. To get started, complete the loan request form on this page.
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