payment a repayment plan
Like if i do the calculator and it says the loan will cost 3$ a month (im guessing thats just the insurance) but when i take the actual loan will it be a payment plan similar to a mortgage where as long as i make the set payments, at the end of 6
Months or whatever the loan is paid off?
They are balloon style loans. You only pay interest monthly and pay off principle upon closure
So monthly interest is fixed for the duration as your principle isn’t being paid down
It is also possible to extend the loan if you want to keep it open for an extended period of time.
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