marbledog asked:


I’m starting a small business, and I would like to offer financing to my customers, but I’m unsure of how to calculate monthly finance charges based on APR.

For instance, if I financed $700 at 20% APR over 24 months, how would I calculate a customer’s monthly bill?

Any help is appreciated! Thanks.

Chelsea B asked:


We are filing a Chapter 7 bankruptcy, and it is due to be discharged by May. How long after that can we finance a car for a decent rate?

timmyliao2001 asked:


Here is the deal. I kind of got taken from a shady Persian gentlemen who did the financing for me at my local Honda dealership. So he got me for a higher interest rate, lied to me so I would purchase stuff like extended warranty and gap insurance. My question is this: Based on my original loan the total loan amount of my interest would have been like $12,000 spread out over six years. But I went ahead and paid a large portion of that down and refinanced with a third party – therefore reducing the total interest to something like
$3500 over four years. So here is my question. Does this dishonest finance guy at the dealership get a cut of the original $12,000 and get his money up front? Or will he only get a cut of the total amount of interest I paid on the original loan which was about $1300? I want to know if by refinancing through some other lender if I took money away from him that he was expecting would come to him based on the terms of the original loan?

X-Malleus asked:


Pretty much exactly what the main question says. I have no idea what a “finance charge” is. For instance, would I be charged a finance charge if I charged a purchase, and then paid the balance immediately?

Any additional information that could be given would be great, as I’m considering getting my first credit card, and want to know everything I can so that I don’t get myself into trouble.

lucky asked:


What happens if a finance company never repossesses a vehicle that has been discharged in bankruptcy? No payments have been made in 14 months…Bankruptcy discharged in June of this year. Finance company has our current address and phone number.