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Most states have limits on how much interest banks and businesses may charge. Check with your state on its limits(usually in the phone book in the blue pages in the front or back). If it is personal there is usually no limit, be careful there.

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โˆ™ 2005-11-03 19:55:13
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Q: What is the maximum amount of interest can be charged for the purchase of a car?
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Related questions

What is the minimum amount of interest that can be charged for the purchase of a House?

There is no requirement to have a loan to purchase a house, therefore the minimum amount on interest would be zero.


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The maximum amount of money that can be charged to the purchase card for a single transaction.


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In short the interest rate is the amount in percentage charged on your capital amount of your mortgage to you pay in addition to the actual amount loaned for the purchase of your house.


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Compound interest is when interest is charged on the principal plus the interest. An example is a credit card debt. If you carry a balance from month to month you are charged interest on the total amount owed including the interest from previous months. Simple interest is calculated on the amount borrowed over a fixed amount of time and does not charge interest on the interest.


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price ceiling.


Is simple or compound interest faster?

Calculation of simple interest is faster in comparison to compound interest. In the latter, interest is added up with the principal amount and interest is charged on that added amount in the next period calculation.


What is the maximum automobile repossession fee that can be charged in Texas?

Some states have set maximum amounts for repossession fees. The state of Texas,. however has not set a maximum amount on the fee that can be charged for a car repossession.


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If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?


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What is the maximum interest rate a finance company can charge on a 2002 used car loan in Florida?

In Florida, the highest interest rate that may be charged by a finance company for loans under $500,000 is 18% per annum. Be cautious, however, because there are no limits on the amount of fees that may be charged for the application or origination of the loan.


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I financed a vehicle for one amount now my first payment is due and the payoff amount is higher than the borrowed amount. Is that correct or legal?

Are you including the interest that is being charged on the borrowed amount? When you borrow money, say $10000, you are charged interest on that amount. So you'll end up paying far more than the $10000 you borrowed.


Can interest continue to be charged on the principal amount of a judgment which has a court approved payment agreement?

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What does a bank charge you when you borrow money from it?

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What is the standard amount of interest charged on an auto loan?

Interest rates change from day to day which changes how much the average interest paid is. The answer to this also depends on the price of the car purchased.


How much is the maximum amount of cash a person can place inside a visa gift card?

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Is the amount charged for use of bank's money is called interest?

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