Best Title Loan Lenders Socorro, NM
1. World Finance
202 California St Ste A Socorro NM 87801
+1 575-835-1559
2. Sun Loan Company
407 N California St Socorro NM 87801
+1 575-838-4788
3. Nusenda Credit Union
1019 N California St Socorro NM 87801
+1 575-835-1522
4. Courtesy Loans
110 California St Socorro NM 87801
+1 575-838-5000
5. Alliance Abstract and Title LLC
207 Fisher Ave Socorro NM 87801
+1 575-838-2018
6. New Mexico Title Loans Inc
1019 N California St Socorro NM 87801
+1 575-838-2127
7. Continental Loans
211 Fisher Ave Socorro NM 87801
+1 575-838-0678
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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