So if you pay off the loan early they collect the monthly interest and not the daily unpaid balance. Be aware to pay the loan off in full soonest with a certified check and not make monthly payments while you are paying principal unless they are due.. Very strange but true. I assumed they used a daily loan balance. You could pay a lot of money in interest that is not the unpaid daily balance and that is what you would expect from a normal loan at a bank. As always the bank will get what they need from the customer upfront. Be very careful. Words LOL 100 minimum.