Cash 4 You is a common sight in the larger towns and cities in Ontario, having been in operation since 2001. If you have bad credit or are just in need of some quick liquidity, you may find their services useful. Cash 4 You offers installment loans, payday loans, cheque cashing, and Western Union transfers.
It’s very important that you understand the terms and conditions of their services however, particularly the installment loans, and payday loans. While it’s great to be able to get a hassle-free $15,000 installment loan with little more than some ID and proof of income, you will pay a staggering 46.93% interest on that money. This should be a loan of last resort.
Cash 4 You installment loan features
Let’s take a look at what Cash 4 You offers for installment loans.
Why You Want It
Loan amounts from $1,000 to $15,000 + Apply online or at 100+ stores.
Eligibility
- Canadian citizen
- Age of majority
Provinces
BC, ON
Features
Pre-approval
Flexible Terms
Loan Amounts
Up to $15,000
APR Range
46.93%
Term Range
12-60 months
Minimum Credit Score
N/A
Secured Available
Cash 4 You installment loans rating: 2.4 stars
We gave Cash 4 You a very low score of only 2.4 stars out of a possible 5. They scored a few points for offering easy, hassle-free loans in Canada with fast approval and flexible terms, but otherwise lost points on basically everything else.
They mostly operate out of Ontario, though they do offer some loans to residents of British Columbia. They have a fixed 46.93% interest rate for their installment loans. You have to go to a physical branch to pick up your money, as they do not offer electronic transfers. They offer no other added features or benefits.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of Cash 4 You installment loans
If you’ve exhausted your other options, what are the up sides to this service?
Pros
You do not need to have good credit to obtain a loan
While you will need to have some ID and proof of steady income, you do not need to have good credit to get a loan from Cash 4 You.
Loan amounts and terms are flexible
Installment loans can range from $1,000 to $15,000, and from 12 to 60 months.
No collateral or co-signers needed
Cash 4 You only offers unsecured loans, so you will not need any collateral to get one. Also they claim to look at “more than your credit score,” and thus never require that you have a cosigner for your loan. This can be useful for some people who are in a complicated financial situation.
Fast approval
You can apply online or in store and you will get nearly instant approval, as long as you bring ID and some proof of income – such as a pay stub.
The cons of Cash 4 You installment loans
Cons
46.93% interest rate
This is not the maximum end of a range of possible interest rates. This is the interest rate everyone who gets a Cash 4 You loan will pay. While this is extraordinarily high, it is within the legal maximum. It should, however, be a loan of last resort. If you borrow the minimum amount ($1,000) for the minimum time (12 months), you will pay $268.77 in interest (according to their website disclosure, our calculator puts the amount slightly higher).
Cash 4 You only operates in Ontario
Cash 4 You has over 100 locations, but they’re all located in various towns and cities across Ontario. If you’re not in Ontario, you’re out of luck.
You must visit a physical branch to get your money
They do not offer an electronic deposit option for their loans. You have to go to one of their physical locations to pick up your money.
No benefit to making payments early
If you make early payments on your Cash 4 You loan, you will only pay your loan off more quickly. You will not save on any interest payments. On the other hand, they don’t charge early payment penalties.
Personal loan interest calculator
Wondering what a 46.93% loan looks like when you borrow different amounts for different periods of time? Turns out that we have a handy calculator for that.
Cash 4 You loan amounts range from $1,000 to $15,000, and terms range from 12 to 60 months. The interest rate is always 46.93%. Punch in some numbers and see just how much you’ll pay for your loan.
Loan Values
Cash 4 You installment loans alternatives
There are other ways to get personal loans, of course. Here’s how Cash 4 You measures up against a few of their less expensive competitors.
 |  |  |  | |
|---|---|---|---|---|
| Account | Cash 4 You Installment Loans | Car Loans Canada | LoanConnect | RBC Personal Loan |
| Genius Rating | ||||
| Why You Want It | Loan amounts from $1,000 to $15,000 + Apply online or at 100+ stores. | Only shows preapproved loan options + Rates starting as low as 6.99%. | Flexible loan options from $500 to $60,000 + Interest rates start at 8.99%. | No early prepayment penalties + Skip a monthly payment once a year. |
| Pre-approval | | | | |
| Flexible Terms | | | | |
| Loan Amounts | Up to $15,000 | N/A | Up to 60,000 | N/A |
| APR Range | 46.93% | 8.99% and up | 8.99%-46.96% | N/A |
| Term Range | 12-60 months | 12-96 months | 3-120 months | N/A |
Show More | ||||
| Find a loan See more cash 4 you products Compare | Find a loan See more Car Loans Canada products Compare | Find a loan See more Loanconnect products Compare | Learn More See more RBC products Compare |
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Cash 4 You installment loans FAQ
Some frequently asked questions about Cash 4 You.
If I get a 60 month installment loan for $15,000 from Cash 4 You, how much interest will I pay?
If you punch those numbers into our handy personal loan interest calculator, you’ll see that a $15,000 loan at 46.93% interest paid over 60 months will cost you a staggering $24,111.60 in interest, with your total repayment amount being $39,111.60.
Does Cash 4 You offer a range of interest rates for installment loans? If I have better credit, will I get a better interest rate?
This is not the top end of a range of interest rates, unfortunately. All of Cash 4 You’s installment loans have the same 46.93% interest rate. If you would like a better interest rate, you should look at some alternative services.
46.93% seems like an awfully high interest rate for a loan. Is that actually legal?
It is legal. Section 347 of the Criminal Code of Canada sets the maximum allowable annualized interest that may be charged at 60% – interest charged above that level is considered usury and is a criminal offence. You can play with our personal loan interest calculator to see how much you’ll pay for various loans at this interest rate.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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