Posts Tagged ‘interest rate’

Question about loans how they work?

Friday, December 30th, 2011

I went and got a loan and I understood it one way, and my mother is arguing with me saying it works another way. No reason to argue so lets get it strait.

If I got a loan for 15000 and a 2.6% interest rate for 5 years. I have 15000 to spend on the car, so 13500 on the car the 1500 for fee’s is how i looked at it. Then over time well you are paying you pay the interest every month 6, so after 5 years you payed the 15000 for the car and the 1000 or so in interest witch would come out to 16000 some odd dollars.

My mom thinks, that you have 14000 to spend and the bank will add the interest into the loan right off the bat so 14000 to spend on car 1000 interest so your loan is 15000

Installment Loan?

Wednesday, November 2nd, 2011

We’re in the process of rebuilding our credit profile with a recent bankruptcy discharge of our debts. We need a 00 – 00 loan and cannot find options other than PayDay loans. We have a request out on, however, our state only allows a 7% interest rate and our request is not attracting bidders. Does anyone know of a financial institution willing to give us a chance? We have a 00 surplus at the end of each month, so a loan payment is not a problem. Thanks. (We are only interested in doing business in the United States)

Unsecured loan, interest rate question?

Saturday, October 15th, 2011

I need some clarification of a consumer loan agreement that was offered by my bank to sign. It states that it is 18% per annum in certain sections, but under the truth in lending disclosure section it says the cost the credit will cost me at a yearly rate is 26.345%….Why are these different? As I read through the agreement it stated the 18% was fixed. I see nothing explaining the 26.345%. It is not a big deal since I signed it already and it is only for 500 dollars, but any clarification on this for the future would be helpful as to why there are two different interest rates. Other loans I have taken out have always just mentioned one interest rate in the consuer loan agreement.
i was doing some more research and there was a processing fee for this loan. Would the reason the interest rate under the truth of lending section is higher is because they have to classify and include this in that? So, what I mean is, is the interest rate actually 18 percent, but when you tack on the processing fee the true cost over the life of the loan would actually be 26.345 percent and that why its under the truth in lending section. Do I understand this correctly?

20 year old looking for $1000 loan?

Wednesday, September 21st, 2011

Me and my fiance are looking for a good place to get a 00 loan to pay for a deposit on a new apartment. Where is a good place to get this type of money in a short amount of time with an interest rate that is not so high?
BTW don’t answer if ur not going to actually help. Nobody is asking for your opinion since you only partially know the situation.

What pre-commisioning loans (CareerStarter Loans) are available to future military officers?

Thursday, September 15th, 2011

Looking for an unsecured, very low interest rate loan for personnel currently in programs that will lead to their commissioning as military officers. (Specifically NROTC)

So far, I’ve found only one loan:
,000 @ 2% with USAA
Need to be withing 18 mos. of commissioning
Payment deferred until 3 mos. after commissioning.

I called Navy FCU (NFCU) and eventually got transferred to the Anapolis branch, where they said the only loan available was for already-commissioned officers, within 1 year of graduation.

HELP! I am desperate!! Underwriters, people with personal fair credit loan experiences-please respond!!!?

Wednesday, September 14th, 2011

Here is the deal. All three credit scores are above a 640 with the highest being experian at 662. I have no late payments, 5 accounts in good standing, no public records. I am trying to get a loan for about 5-10,000 and am having the biggest problem. My debt to income ratio is 32% and I’ve been employed for over two yrs. When I was young and coming right out of high school-I made some credit mistakes. I have cleared and paid all of my debts from then about 3 yrs ago and have no outstanding balances. I really need this loan. So far I have went to Chase, Citi Financial and both have said No.

I just don’t understand what I am doing wrong. Does anyone have a clue about who I may have better luck with other than friends and family or payday loans?? I understand that I may not get the best interest rate but I thought for sure I would be able to get a loan. Please only serious answerer’s and no scams. Any help would be useful at this point. I’d like to hear someone with personal experience or a loan underwriter who can give advise. Should I try American General or do you know of any other lenders for UNSECURED lines of credit or loans???? Please respond.

Personal loans for someone with poor credit?

Monday, September 12th, 2011

Is there a company out there that has unsecured loans for people with bad credit? I do not mind paying a higher interest rate to get everything paid off and keep the creditors off my back and only have one payment. Anyone have an experience with Credit

Can I get an auto loan on a vehicle I already own?

Monday, September 12th, 2011

Two years ago, and straight out of college, I bought a used car privately (from an acquaintance, without going through a dealer). I needed the cash quick to make the deal, so I took out a "personal loan", unsecured. This means I hold the title to the car (which I wouldn’t have if I’d gotten an auto loan), but the bad news is that I pay exorbitant interest rates on this loan, since the car wasn’t recognized as collateral.

Is there any way to "go back" and refinance the personal loan at least in part as an auto loan? In other words, can I put the car up for collateral in order to get a better interest rate?
I have pretty good credit (around 750) and have never missed a payment. I just don’t want to have paid twice the loan amount in interest by the time I’m done.

How good does your credit score have to be…?

Sunday, September 11th, 2011

to get a ,000 unsecured credit cosolidation loan with a decent interest rate? I dont want to start applying for loans if I dont have a chance.

Help finding an auto loan with low credit score?

Sunday, September 11th, 2011

i have 601 as my credit score. i am 22 and had a couple credit cards go to collections which i eventually paid off,and is on my credit report as delinquent.charge off. i finished paying the last collected credit card off this past february. i now have one secured card and one unsecured credit card to help me re-establish credit. i just got qualified for another credit card to help add more credit history and more open accounts to my credit report. they are all minimum amounts of 300. i’m looking into getting an auto loan for a vehicle. my current vehicle is currently worth 3 grand. i need about 8 grand more. to pay off my student loan and receive the vehicle of my choice. i understand my interest rate will be high with my low credit score. are there any places that are legitimate that i could actually get qualified for an auto loan through? ive heard about credit unions and dont know much about their auto loans. do you have to be married to get an auto loan through them?

What kind of interest rate can I get?

Friday, September 9th, 2011

I have a credit score of 702. What kind of interest rate can I get on a unsecured personal loan with this credit score?

Where is a good place to get a quick loan on the internet?

Thursday, September 8th, 2011

I mean just like around 00 loan, nothing big. I’ll be getting 00 at the end of this month and I will pay the loan off right away so I’m not worried about the interest rate.

Would this work for selling my home?

Wednesday, September 7th, 2011

Sell home, and once offer is made and accepted get an unsecured loan for the remaining balance of what wouldn’t cover my 2nd mortgage. Pay that before the house closes, then after the sale is final, the 1st and second mortgage will be paid in full and I will just be left with the balance of the personal loan.
No, I’m not high – our bank already told us they could get us the ,000 that we need in an unsecured loan. It’s just a higher interest rate and for a shorter term.

Have $25,000 in bills…have great credit..having trouble getting a loan to consolidate…why? PLEASE HELP!!?

Monday, September 5th, 2011

I have a credit score above 700..which is really good……make around ,000 a year…and dont pay rent..I have a credit card that I owe 00…10% interest…unsecured loan that I owe ,500..14% interest rate…car loan I owe ,900 8% interest rate…and I’m NEVER behind on my payments….how can I get a loan to consolidate these bills into one monthly payment with a decent interest rate if I have no collateral??? I applied to bank of america for a unsecure bill consolidation loan for ,000 and got denied. Do I have any other ways to solve this problem????? Please help me :)

Car loans after bankruptcy?

Sunday, September 4th, 2011

I have a bankruptcy just discharged in October. I had my car totalled last week and I need a new/used car. I found out today from two dealers that I cannot lease a new vehicle but I am approved for 000 with 13-15% interest for 60 months. Should I go for it and finance something for 60 months. I can afford 0 – 0 a month with 00 – 00 down. They told me also that I have to finance something newer than a 2002 with low miles. So I cannot pick a 2001 car with 80,000 miles on it. Weird. So what is the best thing to do then? Is this interest rate reasonable?

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