Payday Loans Albuquerque, NM
Apply online from Albuquerque for an unsecured installment loan up to $1500. Licensed in New Mexico. Approval is not guaranteed; every application is reviewed.
Searching for payday loans Albuquerque residents can actually use? Here is the straight answer: payday loans are not permitted in New Mexico, but a traditional installment loan can cover many of the same needs. Lucky Loans, licensed in New Mexico as Excel Finance New Mexico, LLC, offers unsecured installment loans up to $1500, and you can apply online from Albuquerque.
We do not have an office in Albuquerque. Our office is in Gallup, and you do not have to go there to start. Your loan is repaid in set payments, there are no pre-payment penalties, and we report your good credit. Bad credit? You can still apply. Approval is not guaranteed; every application is reviewed.
Payday Loans Online Albuquerque: What Is Allowed in New Mexico
If you typed payday loans online Albuquerque into a search box, you probably want cash fast and a simple process. New Mexico repealed its payday loan provisions effective 2017, so lenders here use installment loans instead. Lucky Loans is not a payday or title lender. Our loans are traditional installment loans, which are much safer for the consumer.
The difference matters. A payday loan is typically due in one lump sum. An installment loan is paid back in equal payments, so you know what to expect each time. You can read more on our New Mexico loans page, or compare options on our payday loan alternatives page.
Personal Loans Albuquerque and Installment Loans Albuquerque: How It Works
Albuquerque is the largest city in New Mexico, and many of our applicants are looking for personal loans Albuquerque lenders will consider for a car repair, a medical bill, or a gap between paychecks. If you want a cash advance Albuquerque style, an installment loan is the New Mexico version of that idea, repaid over time.
- Fill out the short form at /apply-now/, or call 505-863-5825.
- We review your application and the information you give us.
- If you are approved, after review we walk you through signing, and the money is deposited to your bank account the next business day.
You need to be a New Mexico resident with a regular income, where permitted by law. Costs depend on your application and credit information, and not all applicants will qualify for the lowest rate.
New Mexico caps the APR at 36% on loans of $10,000 or less, all-inclusive. These examples use that maximum so you can see how payments work. They are estimates at 36% APR, the NM maximum; your actual terms may differ.
- $500 over 6 months: about $85.79 a month, total $514.74
- $1,000 over 12 months: about $100.46 a month, total $1,205.52
- $1,500 over 6 months: about $257.37 a month, total $1,544.22
- $1,500 over 12 months: about $150.70 a month, total $1,808.28
You can try your own numbers with the loan calculator. Learn more about our biggest loan on the $1500 loan page.
Title Loans Albuquerque? No Collateral Required Here
People who search for title loans Albuquerque are often worried about putting up their vehicle. With Lucky Loans you do not have to. We are not a title lender, and our installment loans require no collateral. No car title is needed, and you keep your car.
That means an unsecured installment loan, so your vehicle is not part of the deal. If you have been comparing options, our title loans page explains how our approach differs from a title loan.
Loans in Albuquerque With No Credit Check: The Honest Answer
Many people search for loans in Albuquerque with no credit check. We want to be honest with you: we review credit information as part of every application, so we do not offer a loan with no credit check. What we can say is that bad credit is OK to apply. We can review applications even if you were declined elsewhere, but approval is not guaranteed; every application is reviewed.
There is an upside to the process. We report your good credit, so on-time payments can help build your record. See our bad credit installment loans page for details.
New Mexico Law and Our License #02179
Excel Finance New Mexico, LLC, doing business as Lucky Loans, holds small loan license #02179, issued August 2, 2018. Small loan lenders must be licensed by the New Mexico Regulation and Licensing Department, Financial Institutions Division. Since January 1, 2023, the APR on loans of $10,000 or less is capped at 36%, with fees and credit insurance counted in the APR.
If you ever have a concern, you can contact the RLD Financial Institutions Division at P.O. Box 25101, Santa Fe, NM 87504, (505) 476-4885. Our own office is at 1108 E. Hwy 66, Gallup, open Monday to Friday 8:00 am to 6:00 pm and Saturday 8:00 am to 1:00 pm. Staff there speak Navajo as well as English.
Installment Loan Examples at the New Mexico 36% APR Cap
| Amount | Term | Monthly payment | Total interest | Total repaid |
|---|---|---|---|---|
| $300 | 6 months | $55.38 | $32.28 | $332.28 |
| $300 | 12 months | $30.14 | $61.66 | $361.66 |
| $500 | 6 months | $92.30 | $53.79 | $553.79 |
| $500 | 12 months | $50.23 | $102.77 | $602.77 |
| $1,000 | 6 months | $184.60 | $107.59 | $1,107.59 |
| $1,000 | 12 months | $100.46 | $205.55 | $1,205.55 |
| $1,500 | 6 months | $276.90 | $161.38 | $1,661.38 |
| $1,500 | 12 months | $150.69 | $308.32 | $1,808.32 |
Estimates at 36% APR, the New Mexico maximum, equal monthly payments. Your actual terms may differ. Try the loan calculator.
Online Loans in Other New Mexico Cities
Frequently Asked Questions
Can I get payday loans in Albuquerque?
Payday loans are not permitted in New Mexico. Lucky Loans offers traditional installment loans up to $1500 instead, and you can apply online from Albuquerque. Approval is not guaranteed; every application is reviewed.
Do you offer personal loans in Albuquerque?
We offer unsecured installment loans up to $1500 to New Mexico residents with a regular income, where permitted by law. Many Albuquerque applicants use them like a small personal loan. Your actual terms depend on your application.
Are there title loans in Albuquerque through Lucky Loans?
No. We are not a title lender. Our installment loans require no collateral, so you keep your car and no title is needed.
Can I get a cash advance in Albuquerque with bad credit?
Bad credit is OK to apply. An installment loan is our version of a cash advance, repaid in set payments. We review credit information, and approval is not guaranteed; every application is reviewed.
Do you have an office in Albuquerque?
No. We have no office in Albuquerque. You can apply online from home, or call 505-863-5825. Our office is at 1108 E. Hwy 66 in Gallup if you prefer to apply in person.
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Apply Online From Albuquerque
Ready to start? Fill out the short form on our <a href="/apply-now/" rel="nofollow">apply page</a> or call 505-863-5825. Come Get Lucky! Approval is not guaranteed; every application is reviewed.
Approval is not guaranteed. Every application is reviewed. Loan amounts and terms depend on your application, credit information and New Mexico law. Lucky Loans is licensed by the New Mexico Financial Institutions Division, license #02179.