Question by Needs The Answers! ): What is the difference between a regular loan and a “Daily Simple Interest Loan”? ?
Is it that you pay more interest in the beginning of you loan? We financed our truck about 6 months ago at (an outrageous) 16% interest rate where the interest is accrued daily. Basically we pay about $ 10.00 a day in interest. Our total payment is $ 503.00 per month. So one question is that if we could refinance(we have bad credit:( )would a regular loan accrue less interest daily? SO any answers ideas or thought would be helpful, I am little lost…..and totally sick about paying a $ 300.00 a month interest payment!

Best answer:

Answer by BobWang
There is a forum dedicated to automotive financing.
Try joining that forum, and ask for suggestions.

Know better? Leave your own answer in the comments!

www.thedailyfranchiseshow.com Ohio is voting whether to keep the payday “loan” cap at 28%, or to return it to a real fair 391% rate.This franchise consultant is pleased to announce he never helped anyone get into a payday loan franchise!