A simple interest loan doesn’t charge you additional interest on your accrued interest. In other words, the only interest you pay is on the outstanding principal balance of your loan. Auto loans and ...

A simple interest loan calculates the interest based only on the principal you owe. It stands in contrast to a compound interest loan, which calculates interest based on principal and any outstanding ...

A simple-interest car loan is a common way to borrow money to buy a car. What’s great about simple-interest auto loans is that you can save money with this loan structure when you’re buying a vehicle.

A loan agreement is a legally binding document that defines the terms and conditions between a borrower and a lender. It ...