Different cash loans? please explain?

ok now my mom is arguing that these companies dont operate under the same principle please come up with the reasonably answer so i can show my mother that they all operate under the same pricipal. the companies i am talking about are comanies like %26quot;cash and go%26quot; banks, credit unions, and all forms of financing and loans

please answer me this is there a basic principle to these companies and their various ways of leniding money advancing monye loan money wether it being, 10, 20, 500, 1,000, 50,00 200,000, do they operate in this priciple %26quot;they borrow, then they pay back the money, plus an intrest wether, it coming from a table, apr intrest rate, and all other forms of intrest.%26quot;

basically if all companies are almost the same.

hopefully you guys understand me to end this arguement.

Different cash loans? please explain?

yup, your right, even though places like cash-n-go make you pay more, they are virtually all the same.

Different cash loans? please explain?

Not sure read some finance tips and more on this site

Different cash loans? please explain?

except in the case where the loan has added fees and other %26#039;points%26#039; to increase the yield to investors beyond the stated interest rate. Look for the actual APR in the disclosure documents to include penalties for early repayment.

Different cash loans? please explain?

Try the fact that the interest they charge is outrageous!

For example: You borrow $200.00, and the payback amount is $230.00....do the math. What is the actual interest paid on a loan of $200.00?

Also, if you run into trouble and cannot pay the entire amount, the lender will often allow you to pay the interest on the loan, BUT you do not pay it down like that. They are only going to apply the money you give to the interest on the loan.....the total amount of $230.00 remains due no matter how many times you give them an interest payment!

Say they let you pay the interest five times, on the sixth visit you can pay the entire $230.00...by that time you have paid $180.00 in interest for a $200.00 loan!

Is that reasonable enough for you?