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New Mexico

LOAN RATES AND FEES

BELOW IS GENERAL INFORMATION REGARDING ALL RATES ADN FEES THAT WIILL ASSSIT YOU IN MAKING YOUR LOAN DECISION. IF YOU HAVE ANY QUESTIONS, OR WOULD LIKE MORE INFORMATION, PLEASE ASK. MAKE CERTAINTHE QUESTIONS THAT YOU ASK ARE ANSWERED. MAKE CERTAIN YOU UNDERSTAND THE TERMS AND COSTS OF YOUR LOAN

ANNUAL PERCENTAGE RATE (APR)

The cost of your credit as a yearly rate. APR is a combination of the interest rate plus fees charged on your loan. APR is higher than the interest rate beacause it includes both fees adn interest as finance charges.

Your actual terms and the Annual Percantage Rate (APR) will be determined at the time your application is submitted and will be based upon your application and credit information. Not all applicants will qualify for the lowest rate.

Under New Mexico law, the APR for a loan in an amount of $5,000 or less made persuant to the Smalll Loan Act of 1955 or the Bank Installment Loan Act of 1959 cannot exceed one hundred and seventy-five percent, effective January 1, 2018.

FEES
A list of all additional fees that you may be charged.

Delinquency Fee (Late Fee)

5% of each installment payment with a maximum of $10.00

One time Processing Fee

10% of the original amount financed with a maximum of $200.00

 

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