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Your loan amount is based upon the wholesale value of the vehicle. We loan up to 65% of the wholesale value. Interest only payments are due on the 1st and 15th of the month. The loan contract is written for ninety days, but can be extended at no additional cost. There are no prepayment penalty charges.
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At any time, you may make principal payments to reduce the loan amount, which will reduce your interest payments. You may pay off your loan at any time. All interest is prorated into a daily charge, so you only pay interest for however long you have the loan.
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