Every car loan contract is required to specify if the original interest rate can be raised. If the interest rate can be race the contract should specify the amount of time they have to notify the contract participants.
To determine the effective interest rate, you can calculate the fee as a percentage of the loan amount and annualize it based on the loan duration. For the first loan, the fee of $120 on a $2300 loan over 15 days results in a higher effective interest rate compared to the second loan with the same fee but a shorter duration of 13 days. Since the second loan has a shorter repayment period, it will yield a higher effective interest rate when annualized. Therefore, the payday loan due in 13 days will have a higher effective interest rate.
When selling your vehicle.
yes
10 days
generally they have ten days
15
t= numbers of days ordinary interest= Pr no. of days/ 360 days exact interest= Pr no. of days/ 365 days
Sell or transfer your vehicle.
45
You should consult a local attorney, because laws vary from state to state. In California, for instance, a dealer has a certain amount of time (a couple of days) to notify a buyer if a loan does not go through for some reason and instruct the buyer to either return the car or sign new paperwork for a different loan. If the dealer does not notify the buyer within that time period, then according to law the dealer must honor the terms of the loan as originally stated, self-financing if necessary. However, in practice, the dealer may decide to reposess the car anyway and hope you don't sue, so unless you got a really good deal on the car originally, it's probably not worth the hassle.
5 days
30