Best Title Loan Lenders Hobbs, NM
1. New Mexico Title Loans Inc
1127 Joe Harvey Blvd Hobbs NM 88240
+1 575-492-0010
2. Payment 1 Loans – Hobbs
104 E Broadway St Hobbs NM 88240
+1 575-391-0280
3. Check `n Go
1710 W Joe Harvey Blvd Hobbs NM 88240
+1 575-492-9001
4. Regional Finance
101 W Broadway St Hobbs NM 88240
+1 575-393-7435
5. Sun Loan Company
117 W Broadway St Hobbs NM 88240
+1 575-397-3153
6. Check Into Cash
3900 N Lovington Hwy 200 Hobbs NM 88240
+1 575-738-1750
7. OneMain Financial
3920 N Lovington Hwy 300 Hobbs NM 88240
+1 575-392-3538
8. Title Cash
412 E Bender Blvd Hobbs NM 88240
+1 575-391-0149
9. First Choice Loans
401 N Turner St Hobbs NM 88240
+1 575-391-6600
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Fixed installment method
With the fixed installment method, the payment each month is fixed. But the amount going toward interest is getting smaller, while the amount going toward principal grows larger month by month.
Equal Principal and Equal Interest
The principal is divided into equally monthly amounts. And the interest each month is calculated on the total principal, which means it will not be reduced over time.
APR
An APR, short for Annual Percentage Rate, refers to a percentage that reflects the yearly cost of borrowing a loan over its term.
Finance Charge
A finance charge is the total amount of cost paid on a loan. It includes interest, fees, and other charges that are collected over its life.
- Total Principal Paid: $ 4,000.00
- Finance charge: 473.42
- APR: 36.00 %
- Total Principal Paid: $ 10,000.00
- Total Interest Paid: $327.97
- Loan term: 12 months