Escape Fees with Installment Loans Prepayment Penalty-Free
Real-World Examples and Statistics
According to the Consumer Financial Protection Bureau, approximately 20% of installment loan borrowers pay off their loans early3. This trend highlights the growing awareness and appeal of loans without prepayment penalties. Furthermore, a survey conducted by the National Foundation for Credit Counseling found that 60% of respondents prefer loans that offer flexibility in repayment4.