I took out a loan for $280.00 to be paid in 3 installments of $158, the annual interest rate is 400.
The Linen Ephod Asked: I took out a loan for $280.00 to be paid in 3 installments of $158, the annual interest rate is 400.
How much money would I save if I paid it all off on my second installment instead of my third?
(Please save me you shouldn't have taken out the loan. I need this loan because I am moving.) I previously took out a loan with this same company, but it was to be paid back in one months time plus interest, which was like only 18% which was only like $25. Now the only loan they are offering me is this $280.00 loan instead of the $142.00 loan that I usually take out with them. Why has interest skyrocketed? Is there something wrong with our economy?
Back to my original question: How much money would I save if I paid it all off on my second payment installment instead of my third? My monthly payments are $156.85 for 3 months.
Thank you for your answer.
Answers:
SBAndrews Answered:
I wouldn't recommend anybody take out a loan like that, especially if you can't do basic math such as this.
I wouldn't recommend anybody take out a loan like that, especially if you can't do basic math such as this.
ChoDuffield Answered:
We'd have to make some assumptions here to give you accurate information.Some loans state that all payments go directly to interest from the start so that only after you pay off the full value of the interest for the full term does the principle amount go down.In that case, you would still owe the same amount regardless of how you split the payments
We'd have to make some assumptions here to give you accurate information.Some loans state that all payments go directly to interest from the start so that only after you pay off the full value of the interest for the full term does the principle amount go down.In that case, you would still owe the same amount regardless of how you split the payments
To your side question, they are charging this much to you because they know they can.Period.
interestedparty Answered:
Usually when you sign up to a loan like this then it is irrelevant if you pay up early.
Usually when you sign up to a loan like this then it is irrelevant if you pay up early.
The interest is generally added at point of agreement (or as per small print).It's a shame that this is allowed to go on, but it is the balance of a free system.
The 'stupid' will always loose – in future, make sure your not part of the 'stupid'.
STEVEN F Answered:
Loan sharks don't CARE about math.If you can make 3 monthly payments of $156.85, when you only needed $142, you did NOT need a loan, you needed PATIENCE.
Loan sharks don't CARE about math.If you can make 3 monthly payments of $156.85, when you only needed $142, you did NOT need a loan, you needed PATIENCE.
Mrs Caro Answered:
Hello…I am Mrs Caro from Florida Us,I saw your question regarding a loan and i will advise you to be very careful because last month i was so much in need of a loan and got scam over $2000 by fake lenders,i was introduce to this legit lender by name Ben Loan Firm and their ways was so easy..No collateral,No credit check,No co-signer and they offer loan @ 3% interest rate.You can contact them via this E-mail: benloanfirm@yahoo.com.sg
Hello…I am Mrs Caro from Florida Us,I saw your question regarding a loan and i will advise you to be very careful because last month i was so much in need of a loan and got scam over $2000 by fake lenders,i was introduce to this legit lender by name Ben Loan Firm and their ways was so easy..No collateral,No credit check,No co-signer and they offer loan @ 3% interest rate.You can contact them via this E-mail: benloanfirm@yahoo.com.sg
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Categories: Loan Questions Tags: Ben Loan Firm, CARE, PATIENCE
job loss insurance in india?
bhalchandra Asked: job loss insurance in india?
HI,
There is any insurance company in India whose cover JOB LOSS benefit(like home loan installment)? But currently I am working in Dubai
Can Indian insurance company cover my Dubai job loss benefit or any Dubai insurance company can pay my Indian home loan installment.
Answers:
ChoDuffield Answered:
We'd have to make some assumptions here to give you accurate information.Some loans state that all payments go directly to interest from the start so that only after you pay off the full value of the interest for the full term does the principle amount go down.In that case, you would still owe the same amount regardless of how you split the payments
We'd have to make some assumptions here to give you accurate information.Some loans state that all payments go directly to interest from the start so that only after you pay off the full value of the interest for the full term does the principle amount go down.In that case, you would still owe the same amount regardless of how you split the payments
To your side question, they are charging this much to you because they know they can.Period.
interestedparty Answered:
Usually when you sign up to a loan like this then it is irrelevant if you pay up early.
Usually when you sign up to a loan like this then it is irrelevant if you pay up early.
The interest is generally added at point of agreement (or as per small print).It's a shame that this is allowed to go on, but it is the balance of a free system.
The 'stupid' will always loose – in future, make sure your not part of the 'stupid'.
STEVEN F Answered:
Loan sharks don't CARE about math.If you can make 3 monthly payments of $156.85, when you only needed $142, you did NOT need a loan, you needed PATIENCE.
Loan sharks don't CARE about math.If you can make 3 monthly payments of $156.85, when you only needed $142, you did NOT need a loan, you needed PATIENCE.
Mrs Caro Answered:
Hello…I am Mrs Caro from Florida Us,I saw your question regarding a loan and i will advise you to be very careful because last month i was so much in need of a loan and got scam over $2000 by fake lenders,i was introduce to this legit lender by name Ben Loan Firm and their ways was so easy..No collateral,No credit check,No co-signer and they offer loan @ 3% interest rate.You can contact them via this E-mail: benloanfirm@yahoo.com.sg
Hello…I am Mrs Caro from Florida Us,I saw your question regarding a loan and i will advise you to be very careful because last month i was so much in need of a loan and got scam over $2000 by fake lenders,i was introduce to this legit lender by name Ben Loan Firm and their ways was so easy..No collateral,No credit check,No co-signer and they offer loan @ 3% interest rate.You can contact them via this E-mail: benloanfirm@yahoo.com.sg
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Categories: Loan Questions Tags: Ben Loan Firm, CARE, India, PATIENCE