Some car title loans have one single payment due at the end of the loan term. These are usually very short term loans. They also tend to have a higher relative APR when compared to loans with monthly payments.
Single payment title loans are also usually more difficult to repay. Having to come up with the full loan amount, plus interest and fees, in 30 days or less can be challenging.
Single Payment Title Loan Calculator Instructions
The single payment title loan calculator is easy to use. Simply enter the loan amount, lien fee, and number of days. Then click calculate to get your results. The amount shown is what you will likely owe at the end of the loan term.
Single Payment Car Title Loan Calculator
The single payment car title loan calculator will show you the cost of a single payment title loan with interest and fees. It is important to note that many states allow you to roll over the loan without paying the principal.
These fees can quickly add up. For single payment title loans make sure to repay them in full to avoid excessive costs associated with rolling the loan over.
Use the single payment title loan calculator for loans that are due in full with one payment. These are typically in person loans and are usually for a period of 30 days.
The above shows your payment and approximate due date for a single payment title loan. This does not represent the cost of any “roll overs”.
Rolling over a single payment title loan can quickly add up to excessive costs. Only proceed with a title loan if you are sure you can repay the loan in full by the due date.
Single Payment Title Loan Calculator Benefits
Use the single payment title loan calculator to get an idea of what your total payment will be and when it will be due. If you have any question about your ability to repay the loan, in full, then consider some alternatives.
If for any reason you are unable to repay the loan in full you will need to roll over the loan to keep your car. This will get expensive. Try to pay as much as possible, and not just the minimum amount to roll over the loan.
Roll Over Costs
Each time you roll over the loan you will be required to pay interest and fees on top of the principal amount. If you pay only the interest and fees, you will still owe the amount borrowed.
Doing this once may not make a huge difference. Rolling the loan over many times, however, can result in repaying several times the original loan amount.