A simple interest loan doesn’t charge you additional interest on your accrued interest. In other words, the only interest you pay is on the outstanding principal balance of your loan. Auto loans and ...

A simple-interest car loan is a common way to borrow money to buy a car. What’s great about simple-interest auto loans is that you can save money with this loan structure when you’re buying a vehicle.

Experts at Carleton acknowledged calculating add-on interest isn’t as prevalent as it once was with finance companies and other lenders using simple-interest calculations more often nowadays. However, ...