Skip to main content

Article 8: Costs Excluded from APR Calculations

Effective from Feb 01 2025 - Oct 30 2023
To view other versions open the versions tab on the right

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).