Auto Loans

QWhat Is A Simple Interest Loan?
AInterest is paid only on the original principal, not on the interest accrued. These loans require only the payment of interest on the principal balance up to the point the loan is played off. While these loans may be used in a variety of loan applications depending upon the lenderÒs policy, generally, simple interest loans are found where the loan terms are in excess of $25,000 and/or the term exceeds 60 months.