Finding the Right Loan
Understanding the impact of the things you buy is critically important! We want everything now and we have been taught that we owe it to ourselves, after all we deserve the very best!
Our grandparents saved until they had the cash to pay for these items, but with easy access to credit most of us buy what we want, and we seldom wait. We have been taught to focus on interest rates instead of loan terms and the "true cost" of the things we buy. Consequently, the average American walks away from more than $1,000,000 in their lifetime by avoiding or ignoring the true cost of their debt.
In essence, we rob ourselves by spending our retirement early, instead of measuring the impact of these daily decisions. We spend the dollars we could have saved and the interest we could have compounded, because we can’t see retirement today.
Installment interest is generally paid on term loans for things like a car, a house, a boat or and recreational vehicle. If we owe $10,000 on an installment loan and we pay an extra $1,000 to principal it may shorten the term of the loan from 60 months to 50 months. However, the payment stays the same and if we default on the loan we can lose the item, even though we paid extra payments.
Revolving interest is generally paid on revolving loans for things like credit cards, department store cards, or a home equity line of credit. If we owe $10,000 on a revolving loan and we pay an extra $1,000 to the principal it lowers both the principal and the payment. So, if we continue to pay the same payments, it will pay off the principal much sooner because the interest compounds in our favor. Every payment we make after the lump sum payment of $1,000 lowers our payment every month, and the interest is reduced much quicker than the installment loan.
Today's Auto Rates
Current auto loan interest rates
|Dates||60-month new car||48-month new car||36-month used car|
Items Needed for an Auto Loan
3 Years Personal Taxes
Last Two Pay-stubs
Updated Personal Financial Stmt.
Auto Ins. Agent’s Contact Info.
Business & Commercial Loans
Premier Lending Solutions has built long-term relationships with several local/national banks and specialty lenders. We can help you to find and secure the best loan for your business refinance, construction to permanent real estate loan, lot loan, SBA or conventional loan, specialty loan, equipment loan, and even working capital.
Many of our clients have used Premier Lending Solutions to negotiate and secure a loan that was .5% to 1.0% lower than the rates they were being quoted by their own bank. In addition, we help our clients to manage the lending process, negotiate with the lender, overcome common obstacles, and we are able to help them properly structure their debt (saving them tens of thousands of dollars or more).
Agricultural & Farm Loans
Premier Lending Solutions has been providing loans to America’s farmers for the past two decades. Our Agricultural Department has developed both local and national lending partnerships to assist you with your full-time and part-time farm needs! Let us help you find and secure the best loan for your farm or ranch.
Many of our Ag customers have used Premier Lending Solutions to negotiate and secure loans that were .5% to 1.0% lower than the rates they were being offered elsewhere. Let us help you to refinance or expend your existing farm or ranching operation.
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