What is a simple interest loan?

In a simple interest loan, interest is calculated as a simple percentage of the principal balance for the number of days covered by the payment. Interest is not compounded, which means that interest is paid only on the principal and not on previously accrued interest. Payments are allocated between interest and principal, first to reduce any interest accruing during the payment period and then to reduce the principal balance.


Should I purchase or lease?

Does Nissan finance used cars?

How much can I get for my trade-in?

Can I make more money selling my car on my own, versus trading it in with a dealer?

How do I contact NMAC by mail?

How do I contact NMAC by phone?

There is an entry from NMAC showing up on my credit report. Whom do I contact?

How can I improve my credit rating?

Can I skip or defer the payment on my account?

Can I change the due date on my account?

What if I can no longer afford the payments on my account?

Will NMAC allow another party to take over the payments on my account?

I didn’t receive a billing statement. Can I make my NMAC payment without it?

Can I request a duplicate billing statement?

How do I notify NMAC if I am moving?

My name recently changed. How do I update the name on my account?

Why doesn’t the last payment I mailed show up on my statement?

Can I pay more than the monthly payment amount?

If I am sending a check, where do I mail my payment?

Can I make loan payments online?