Rate Compare

Written by Super User on . Posted in Static

Affordable Title Loans is proud to offer the lowest rates on title loans throughout Utah, Idano and Nevada. Some of our competitors will charge you double or triple the interest rates that we offer. Take a look at the following tables and charts for a true loan comparison between Affordable and other loan companies. The following tables demonstrate a $1,000 loan on a year 2007 or newer vehicle.

AFFORDABLE TITLE LOANS
Amount Borrowed: $1,000.00 APR (Interest Rate): 120%
Month Payment Balance Principle Interest Acrrued Interest Total Paid Total Interest Paid
Total Pay Off: $0.00
Total Cost Of Loan: $761.16
*The total cost of the loan is the amount of $1761.16 paid, minus the initial $1000.00 borrowed.
Month 1 $146.76 953.24 46.76 100.00 100.00 146.76 100.00
Month 2 $146.76 901.80 51.44 95.32 95.32 293.53 195.32
Month 3 $146.76 845.21 56.58 90.18 90.18 440.29 285.50
Month 4 $146.76 782.97 62.24 84.52 84.52 587.05 370.02
Month 5 $146.76 714.51 68.47 78.30 78.30 733.82 448.32
Month 6 $146.76 639.19 75.31 71.45 71.45 880.58 519.77
Month 7 $146.76 556.35 82.84 63.92 63.92 1027.34 583.69
Month 8 $146.76 465.22 91.13 55.63 55.63 1174.11 639.33
Month 9 $146.76 364.98 100.24 46.52 46.52 1320.87 685.85
Month 10 $146.76 254.71 110.27 36.50 36.50 1467.63 722.35
Month 11 $146.76 133.42 121.29 25.47 25.47 1614.40 747.82
Month 12 $146.76 0.00 133.42 13.34 13.34 1761.16 761.16

MONEY TRAIN
Amount Borrowed: $1,000.00 APR (Interest Rate): 240%
Month Payment Balance Principle Interest Acrrued Interest Total Paid Total Interest Paid
Total Pay Off: $893.40
Total Cost Of Loan: $3293.40
* The total cost of the loan is the amount of $2400.00 paid plus the remaining balance of $893.40, minus the initial $1000.00 borrowed.
Month 1 $200.00 997.26 2.74 197.26 200.00 200.00 200.00
Month 2 $200.00 993.98 3.28 196.72 200.00 400.00 400.00
Month 3 $200.00 990.05 3.93 196.07 200.00 600.00 600.00
Month 4 $200.00 985.35 4.70 195.30 200.00 800.00 800.00
Month 5 $200.00 979.72 5.63 194.37 200.00 1000.00 1000.00
Month 6 $200.00 972.98 6.74 193.26 200.00 1200.00 1200.00
Month 7 $200.00 964.91 8.07 191.93 200.00 1400.00 1400.00
Month 8 $200.00 955.25 9.66 190.34 200.00 1600.00 1600.00
Month 9 $200.00 943.68 11.57 188.43 200.00 1800.00 1800.00
Month 10 $200.00 929.84 13.85 186.15 200.00 2000.00 2000.00
Month 11 $200.00 913.26 16.58 183.42 200.00 2200.00 2200.00
Month 12 $200.00 893.40 19.85 180.15 200.00 2400.00 2400.00

Competitor B
Amount Borrowed: $1,000.00 APR (Interest Rate): 300%
Month Payment Balance Principle Interest Acrrued Interest Total Paid Total Interest Paid
Total Pay Off: $1,000.00
Total Cost Of Loan: $2,958.96
*The total cost of the loan is the amount of $2958.96 paid plus the remaining balance of $1000.00, minus the initial $1000.00 borrowed.
Month 1 $246.58 1000.00 0.00 246.58 246.58 246.58 246.58
Month 2 $246.58 1000.00 0.00 246.58 246.58 493.16 493.16
Month 3 $246.58 1000.00 0.00 246.58 246.58 739.74 739.74
Month 4 $246.58 1000.00 0.00 246.58 246.58 986.32 986.32
Month 5 $246.58 1000.00 0.00 246.58 246.58 1232.90 1232.90
Month 6 $246.58 1000.00 0.00 246.58 246.58 1479.48 1479.48
Month 7 $246.58 1000.00 0.00 246.58 246.58 1726.06 1726.06
Month 8 $246.58 1000.00 0.00 246.58 246.58 1972.64 1972.64
Month 9 $246.58 1000.00 0.00 246.58 246.58 2219.22 2219.22
Month 10 $246.58 1000.00 0.00 246.58 246.58 2465.80 2465.80
Month 11 $246.58 1000.00 0.00 246.58 246.58 2712.38 2712.38
Month 12 $246.58 1000.00 0.00 246.58 246.58 2958.96 2958.96

 

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