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How a Payday Loan Works: The Case of Sarah Jane’s Car

Woman upset at broken car

Nobody likes to find themselves in a temporary financial fix. But the reality is your situation can change in a heartbeat and it’s nice that there are manageable and timely options available when you need one.

Through a series of short stories, we will explain how anyone can benefit from a payday loan. Although these examples are based on fictional characters, they demonstrate how Pay2Day can help in real-life situations.

How a Payday Loan Works: Meet Sarah Jane

Sarah Jane is a single mom of two young girls, living in Mississauga. She loves her job as an aide for a retirement community.  Through her work, she gets to meet nice families and provide a meaningful service to people who need it. Her employer has been understanding when she gets called to pick up one of her kids early or needs to take an occasional day off due to illness. Her job pays the bills, but she doesn’t have a lot left over at the end of the week.

Recently Sarah finally paid off her car loan.  She’s happy with her vehicle. It’s not fancy but it gets great gas mileage, which is nice because the trek to work is about 20 kilometres each way.

Over the last few days her car had been making a bit of a noise, but she didn’t think too much about it, until Friday afternoon on her way home from work. She smelled something burning, and thought it was something outside, until she noticed the temperature gauge in her car was all the way on HOT. Then she saw the smoke bellowing out from underneath the hood. She immediately pulled over because she was afraid to continue driving, for feared she would make things worse.

With no other choice, she had the car towed to the nearest mechanic. The next day she got the call. The price to repair her car would be $700.00, which might not sound like a huge amount, but to Sarah Jane (and her careful budgeting plan) it may as well have been $7,000.

She managed to scrape up $400.00 from her savings but after that she had nothing else to draw from. One of her co-workers told her about Pay2day payday loans. She looked up their website and found one the location nearest to her. The next day, with her proof of employment and banking information in hand, she went in to apply for a payday loan.

In no time at all she walked out with the money she needed to pick up her car so she could get back to work on Monday. Although she wasn’t too happy it happened (who would be?), she was glad a crisis was averted without affecting her work schedule or her credit rating.

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