APR and Rates
The Annual Percentage Rate (APR) of a loan is the amount of interest a person would pay for the loan over the course of a full year. There are several factors that affect this number such as: Your employment history, State applicable law, credit history and the time period of the loan.
Regardless of these reasons, all the terms of the loan including the APR, any fees or charges, payment schedule and other terms must be presented to you in the loan agreement. This information is between you and the lender only. You must sign this contract to receive the loan in the first place.
It's important to note that not all customers will be eligible for a loan. Additionally in some cases, customers may not be eligible to receive the best terms the company has to offer.
Here are some examples of loans APR ranges and amounts:
| Term | Loan Amount | Rate (APR) | # of Payments | Monthly Payment | Total Payments |
|---|---|---|---|---|---|
| 2 Years | $5,000 | 15% | 24 | $242.43 | $5,818.40 |
| 2 Years | $8,500 | 6.99% | 24 | $380.53 | $9,132.68 |
| 3 Years | $10,000 | 8.34% | 36 | $314.93 | $11,337.64 |
| 4 Years | $15,000 | 10.45% | 48 | $383.69 | $18,417.05 |
| 5 Years | $20,000 | 8.54% | 60 | $410.72 | $24,646.98 |
| 6 Years | $30,000 | 7.99% | 72 | $525.85 | $37,861.25 |