Carteret at a glance
- Population: about 25,281, 38th by size in New Jersey of 323 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 25,331 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 0.2% lower than the 2020 Census base (US Census Bureau).
- Rank among New Jersey places: 38th of the state's 323 Census places (US Census Bureau).
- Size percentile: larger than about 88% of the Census places in New Jersey (US Census Bureau).
- Coordinates: it sits at 40.5838, -74.2275 in the US Census Bureau Gazetteer.
- Nearest larger cities: Linden, NJ (3 mi); Rahway, NJ (3 mi); Perth Amboy, NJ (5 mi); Elizabeth, NJ (6 mi); Westfield, NJ (8 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Roselle, NJ (5 mi); Roselle Park, NJ (6 mi); Garwood, NJ (7 mi) (US Census Bureau estimates).
What a personal loan costs in Carteret
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
New Jersey lending rules that apply in Carteret
The table lists the New Jersey rules that apply to a loan made in Carteret, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Carteret
The steps below are worth completing first when you borrow in Carteret:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in New Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.