Best Loans In New Jersey, Payday, Auto Title Laws 2019 - Elite Personal Finance
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Best Loans In New Jersey, Payday, Auto Title Laws 2019

EPF November 10, 2019
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According to Title 17 of New Jersey’s Financial Code, installment loan APRs are determined by the lender and the borrower. Finance charges are not regulated, however, loan amounts cannot exceed $50,000.

Terms are regulated by the amount financed:

  • For loans ≤ $1,000, terms are capped at 36 months and 15 days
  • For loans > $1,000 but ≤ $2,500, terms are capped at 48 months and 15 days
  • For loans > $2,500 but ≤ $5,000, terms are capped at 60 months and 15 days
  • For loans > $5,000 but ≤ $10,000, terms are capped at 84 months and 15 days
  • For loans > $10,000 but ≤ $50,000, terms are capped at 120 months and 15 days

Best Bad Credit Loans In New Jersey 

Lender:Min Credit Score:Loan Amount:APR:Licensed in New Jersey:
BadCreditLoans0$500 – $5,0005.99% – 35.99%Not a direct lender
CashUSA0$500 – $5,0005.99% – 35.99%Not a direct lender
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender

For more information on how to select the best bad credit loan, see our comprehensive guide.

Best Personal Loans for Good Credit In New Jersey

Lender:Min Credit Score:Loan Amount:APR:Licensed in New Jersey:
Payoff640$5,000 – $35,0005.99% – 24.99%Yes
Upstart620$1,000 – $50,0007.46% – 35.99%Yes
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender
LendingTree500$1,000 – $35,0003.99% – 35.99%Yes

For more great options, see our full list of recommended lenders. Also consider SuperMoney. You can compare loans at the click of a button.

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Payday Loans in New Jersey

Traditional payday loans are illegal in New Jersey.

Under ‘prohibited transactions,’ the law states, “No licensee, or any person acting on behalf of a licensee, shall: Cash or advance any money on a postdated check.”

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