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How much would you pay to borrow $100?
#21
If I need a hundred pounds so quickly, I would borrow it from a friend and pay it back without any kind of interest. Then again, I would only borrow it if it was a subject that could wait until my own payday. If my friend could not loan it to me and I had no choice but to borrow then I would be happy to pay back around $15 on top of the sum that I borrowed.
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#22
(01-11-2018, 01:57 PM)Michael Puttman Wrote: I would love to hear from people on what they think is a fair price to borrow $100? I am not talking interest rate or anything, I am talking about an amount. So if you borrow $100, would you be willing to pay back $105? Maybe $110? How about $130? What do you think is a fair price to pay?

If i needed the money badly, i can say that i am willing to pay $110. For me that is fair enough. Of course i would prefer and be happy to pay lower.  Big Grin
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#23
If you needed the money so much and you are borrowing money from a friend most probably you friend will give you money for free and won't let you pay for the money you borrowed. I believe if you are really in need of money the best person where you want to borrow is to your friend before going anywhere else.
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#24
(01-12-2018, 08:46 PM)chikatilo Wrote:
(01-11-2018, 01:57 PM)Michael Puttman Wrote: I would love to hear from people on what they think is a fair price to borrow $100? I am not talking interest rate or anything, I am talking about an amount. So if you borrow $100, would you be willing to pay back $105? Maybe $110? How about $130? What do you think is a fair price to pay?

In my country it is possible to find lenders who will give you $100 and will want $103 back. So, that's it, I'm not paying off more than that.

But if I lived in America, where things are a lot different, I would be willing to pay back as much as $125.

Michael
 I agree with you I am not sure how things work in your country but I am in America so as I said before I think that 25-30 on the $100 seems very reasonable. So it makes sense we are on the same page as what you would pay roughly being from America. 
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#25
(01-17-2018, 05:45 AM)kaisantos2229 Wrote: If you needed the money so much and you are borrowing money from a friend most probably you friend will give you money for free and won't let you pay for the money you borrowed. I believe if you are really in need of money the best person where you want to borrow is to your friend before going anywhere else.

Yeah, I somehow don't think that would happen in real life. I don't think many people could count on even their family members to give them money "for free". I would however rather ask a family member for money than look for a loan if I only needed a small amount.
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#26
I guess it depends on the situation. Like if you are in a really big trouble or problem, I would be willing to pay more than the money I had borrowed.
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#27
I'm impressed that so many people are willing to ask their friends for money. I don't think most of my friends could even afford to loan me the money. My parents certainly can't, I'm usually the one loaning THEM money. Not to mention I would hate to admit to my friends etc that I was so desperate for money that I needed to ask them for it.
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#28
$100 isn't much and most lenders that will take an interest will not give $100. However, when you use the normal interest rate the payment will be $200.
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#29
I would probably pay no more than 110. 100 is not a lot of money, and I would not for instance pay 200 down the road in order to borrow 100. I think that would just be silly.
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#30
(01-30-2018, 01:42 AM)OlaSidiq Wrote: $100 isn't much and most lenders that will take an interest will not give $100. However, when you use the normal interest rate the payment will be $200.

Wow! 100% interest rate for loan due to be paid off in a month? I don't think that's possible unless you talk about a loan shark.


(01-22-2018, 11:49 PM)Sase3119 Wrote: I'm impressed that so many people are willing to ask their friends for money. I don't think most of my friends could even afford to loan me the money. My parents certainly can't, I'm usually the one loaning THEM money. Not to mention I would hate to admit to my friends etc that I was so desperate for money that I needed to ask them for it.

I don't see anything embarrassing or humiliating in asking a friend for help. After all, we are all humans, not everyone of us is rich and from time to time we all have difficulty with finances especially when an emergency situation strikes.
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