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  3. New Mexico

New Mexico Rates & Terms

New Mexico Speedy Cash loan agreements are governed by the applicable laws of the State of New Mexico.

Click here to receive Important Consumer Information about New Mexico Small Loan Business.

INFORMACIÓN IMPORTANTE PARA EL CONSUMIDOR para Clientes de préstamos a plazo.

View example finance charges.

Advance Amount:
(the amount of credit provided to you)		 $500
Finance Charge:
(the dollar amount the credit will cost you)		 $922.36
Number of Payments: 39
Repayment Schedule: bi-weekly, 38 payments of $36.45 and one final payment of $37.26
Total of Payments:
(the amount you will have paid after
you have made all payments as scheduled)		 $1,422.36
APR**: 174.5193%

**Annual Percentage Rate: The APR is the total cost of your loan expressed as a yearly rate. The above APR is based on example loan terms of 39 installments due over 18 months.

Example Bi-Weekly Payment Schedule

Example Loan Amount: $500.00

Example Loan Start Date: 1/1/2017

Number of Payments Payment Amount Payment Due Date
1 $36.45 01/15/2017
2 $36.45 01/29/2017
3 $36.45 02/12/2017
4 $36.45 02/26/2017
5 $36.45 03/12/2017
6 $36.45 03/26/2017
7 $36.45 04/09/2017
8 $36.45 04/23/2017
9 $36.45 05/07/2017
10 $36.45 05/21/2017
11 $36.45 06/04/2017
12 $36.45 06/18/2017
13 $36.45 07/02/2017
14 $36.45 07/16/2017
15 $36.45 07/30/2017
16 $36.45 08/13/2017
17 $36.45 08/27/2017
18 $36.45 09/10/2017
19 $36.45 09/24/2017
20 $36.45 10/08/2017
21 $36.45 10/22/2017
22 $36.45 11/05/2017
23 $36.45 11/19/2017
24 $36.45 12/03/2017
25 $36.45 12/17/2017
26 $36.45 12/31/2017
27 $36.45 01/14/2018
28 $36.45 01/28/2018
29 $36.45 02/11/2018
30 $36.45 02/25/2018
31 $36.45 03/11/2018
32 $36.45 03/25/2018
33 $36.45 04/08/2018
34 $36.45 04/22/2018
35 $36.45 05/06/2018
36 $36.45 05/20/2018
37 $36.45 06/03/2018
38 $36.45 06/17/2018
39 $37.26 07/01/2018
Advance Amount:
(the amount of credit provided to you):		 $500
Finance Charge:
(the dollar amount the credit will cost you)		 $881.18
Number of Payments: 36
Repayment Schedule: semi-monthly, 35 payments of $38.35 and one final payment of $38.93
Total of Payments:
(the amount you will have paid after
you have made all payments as scheduled)		 $1,381.18
APR**: 173.9812%

**Annual Percentage Rate: The APR is the total cost of your loan expressed as a yearly rate. The above APR is based on example loan terms of 36 installments due over 18 months.

Example Semi-Monthly Payment Schedule

Example Loan Amount: $500.00

Example Loan Start Date: 1/1/2017

Number of Payments Payment Amount Payment Due Date
1 $38.35 01/10/2017
2 $38.35 01/25/2017
3 $38.35 02/09/2017
4 $38.35 02/24/2017
5 $38.35 03/11/2017
6 $38.35 03/26/2017
7 $38.35 04/10/2017
8 $38.35 04/25/2017
9 $38.35 05/10/2017
10 $38.35 05/25/2017
11 $38.35 06/09/2017
12 $38.35 06/24/2017
13 $38.35 07/09/2017
14 $38.35 07/24/2017
15 $38.35 08/08/2017
16 $38.35 08/23/2017
17 $38.35 09/07/2017
18 $38.35 09/22/2017
19 $38.35 10/07/2017
20 $38.35 10/22/2017
21 $38.35 11/06/2017
22 $38.35 11/21/2017
23 $38.35 12/06/2017
24 $38.35 12/21/2017
25 $38.35 01/05/2018
26 $38.35 01/20/2018
27 $38.35 02/04/2018
28 $38.35 02/19/2018
29 $38.35 03/06/2018
30 $38.35 03/21/2018
31 $38.35 04/05/2018
32 $38.35 04/20/2018
33 $38.35 05/05/2018
34 $38.35 05/20/2018
35 $38.35 06/04/2018
36 $38.93 06/19/2018
Advance Amount:
(the amount of credit provided to you):		 $500
Finance Charge:
(the dollar amount the credit will cost you)		 $931.18
Number of Payments: 18
Repayment Schedule: monthly, 17 payments of $79.50 and one final payment of $79.68
Total of Payments:
(the amount you will have paid after
you have made all payments as scheduled)		 $1,431.18
APR**: 174.1662%

**Annual Percentage Rate: The APR is the total cost of your loan expressed as a yearly rate. The above APR is based on example loan terms of 18 installments due over 18 months.

Example Monthly Payment Schedule

Example Loan Amount: $500.00

Example Loan Start Date: 1/1/2017

Number of Payments Payment Amount Payment Due Date
1 $79.50 02/01/2017
2 $79.50 03/01/2017
3 $79.50 04/01/2017
4 $79.50 05/01/2017
5 $79.50 06/01/2017
6 $79.50 07/01/2017
7 $79.50 08/01/2017
8 $79.50 09/01/2017
9 $79.50 10/01/2017
10 $79.50 11/01/2017
11 $79.50 12/01/2017
12 $79.50 01/01/2018
13 $79.50 02/01/2018
14 $79.50 03/01/2018
15 $79.50 04/01/2018
16 $79.50 05/01/2018
17 $79.50 06/01/2018
18 $79.68 07/01/2018

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Online Installment Loan Questions

How much money can I get?

New Mexico residents may be eligible to receive up to $500 with an installment loan from Speedy Cash.

How much will my payments be?

Installment loan fees are based on daily interest. With finance fees being calculated daily, the sooner you repay your loan, the less you will owe in finance fees. Late or delayed payments will accrue additional finance charges. There are no fees for paying off your loan early. The APR and fees on your loan will vary depending on loan amount and the term of your loan.

Important Consumer Information

This section contains some common terms and definitions, which are intended to help you better understand the terms of your credit transaction. Credit costs money, so it is important that you fully understand the terms of your credit transaction. If you come across terms you do not understand, look up the terms, or ask our personnel to explain the terms to you. Ask questions. Make certain the questions that you ask are answered. Make certain you understand the terms and costs of your loan.

Common Terms and Definitions

  1. Equal Credit Opportunity Act (ECOA): A federal regulation which requires lenders to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to whether all or part of the applicant’s income derives from a public assistance program; or to whether the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The regulation prohibits creditor practices that discriminate on the basis of any of these factors.
  2. Contract: A written binding document, describing terms of an agreement between two or more persons. (Keep all paperwork. Later, if there are any questions, you will have your agreement in writing.)
  3. Annual Percentage Rate (APR): The cost of your credit as a yearly rate. This measures the cost of credit expressed as a yearly interest rate. It is intended to provide a single value for a consumer to compare the cost of credit between one lender and another.
  4. Finance Charge: The dollar amount the credit will cost you. Finance charges include interest, and may also include transaction fees and service fees.
  5. Principal: The amount of money owed on a debt, on which interest is calculated.
  6. Interest: The cost of borrowing money, generally a percentage of the amount owed.
  7. Balance: The total amount of money owed to a lender.
  8. Default: Failure to pay a debt as agreed to on a contract. When a loan is in default, the lender may demand full payment of the remaining debt.
  9. Collateral: Security pledged by a borrower to protect the interests of the lender; in case of default, the lender may take ownership of the security, if any, pledged by the borrower.
  10. Credit Bureau: A private company that keeps a record of your credit history for distribution upon request by authorized parties. When you apply for credit, a lender may request a credit report to review when considering your application.
  11. Credit History: A record containing information about you, including your payment history on previous debts.
  12. Credit Report: A report of the credit history and other information about you that is kept by credit bureaus, which may include: your name, address, social security number, payment history (good and bad), current and previous debts, employers, income, etc. Accurate information on a credit report may not be legally removed. Incorrect information may be removed by disputing the information to the credit bureau involved.

This business is regulated by the Regulation and Licensing Department, Financial Institutions Division
2550 Cerrillos Road, Santa Fe, New Mexico 87505
Telephone Number: 1-505-476-4885

Subject to state regulations, eligibility, credit check, underwriting and approval. Rates, terms and conditions apply. Installment title loans subject to minimum auto value requirements. See associate for details. Lending decisions and funding times subject to system limitations. Same day funding only available for Opt+ cardholders and in-store pickup. Minimum age to apply in Alabama is 19. A single payday advance is typically for two to four weeks. However, borrowers often use these loans over a period of months, which can be expensive. Payday advances are not recommended as long-term financial solutions. Customers with credit difficulties should seek consumer credit counseling.

NOTICE: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the Consumer Financial Protection Bureau, 1700 G Street NW, Washington DC 20006 and the Federal Trade Commission, Equal Credit Opportunity, Washington DC 20580.

In Texas, Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party. Speedy Cash engages in the money transmission business as an authorized delegate of Western Union Financial Services, Inc. under Chapter 151 of the Texas Finance Code. Speedy Cash engages in the money transmission and/or currency exchange business as an authorized delegate of MoneyGram Payment Systems, Inc. and Western Union Financial Services under Chapter 151 of the Texas Finance Code.

In Ohio, SCIL, Inc. dba Speedy Cash, is a registered Ohio Credit Services Organization (CS.900174.000) operating pursuant to the Ohio Credit Services Organization Act. The actual lender is an unaffiliated third party. The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio civil rights commission administers compliance with this law.

CA: Licensed by the California Department of Business Oversight pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Financing Law. Installment Title Loans subject to minimum auto value requirements.

Nevada: The use of check-cashing services, deferred deposit loan services, high-interest loan services or title loan services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

Tennessee: The State of Tennessee requires a minimum principal reduction. In order to comply with the minimum state-required principal reduction, Speedy Cash requires that minimum payments include a principal reduction of 2% or $2.50 for Customers who get paid bi-weekly/twice-a-month, or 4% or $5 for Customers who get paid monthly, whichever is greater.

Opt+: This card is issued by Axiom Bank or Metropolitan Commercial Bank, Member FDIC, pursuant to a license from Visa. Visa is a registered trademark of Visa USA Inc. All trademarks and service marks are property of their respective owners. ATM: Free withdrawals at any Speedy Cash or Rapid Cash location. Transaction fees will apply for all other ATMs. No charge loads/unloads at Speedy Cash and Rapid Cash locations only.

Google Play is a trademark of Google Inc. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Data rates may apply.