Article 8: Costs Excluded from APR Calculations
The total cost of finance shall not include:
| a. | Any amount charged in lieu of early repayment or settlement and changes in the terms and conditions of the financing agreement. |
| b. | Fees and charges incurred as a result of failure to comply with the terms of the agreement i.e., late payment charges in the form of penalties, charges for collection, etc. |
| c. | Other costs not paid in connection with the financing agreement (e.g. vehicle registration fees). |