I know this gets asked a lot, so after a lot of testing this is what we found with regards how to monetise your payday loan site. The results are consistent with what others who have used it have found also.
T3Leads.com average £5.20 per lead
Lead Affinity £2.00'ish a lead
Quiddi £2.00'ish a lead.
We have found that T3 is by far the much better proposition, an American company but does have forms for the UK and great support. These figures average out everything over applications including those that were declined etc......
The problem I think arises as the ping tree if you use T3 or LA means you are effectively getting a share of a share of a share... if you negotiate direct with the 4 or 5 institutions that provide the loans (once you have volume) rewards will be far far higher.
Problem is getting volume in what is probably one of the top 10 most cometitive areas right now... everyone seems to be setting up PayDay Loan sites at the moment.
Interesting Graham. I think there is a secondary benefit as well, T3 Leads are a US company and as such their commission falls outside the scope of VAT. So anyone VAT registered would get to keep the 20% they would normally need to hand to the tax man I think (anyone in this situation should take their own advice)
T3 have a sort of bidding system by their lenders. Not sure if it is a ping tree, it appears that T3 do one credit check and sell the lead by telling their lenders that person a has x amount of credit score. So from the customers point of view using t3 results in one credit check, compared to possibly 30 with a ping tree.
Very true Highlander, I think someone else mentioned the vat when I spoke to them too and said it would make a big difference to them (although I'm not vat registered). The big big difference with T3 is that where as the UK ping trees would just decline a lead, T3 will get you around $3 for a low quality lead. So I would often get something 16% of the time with UK ping trees, I get something 83% of the time with T3.
I've not tried that Tinky Winky apart from initial enquires and most wanted x amount of minimum traffic and a credit license. I think even then though that a succesful payout would be about £40, T3 go up to about $110 (£70'ish) on a good quality lead.