Supplement to Motor Vehicle Rate Chart |
As a supplement to the main motor vehicle rate chart, the OCCC also provides this chart expressing the $12.50 and $15 add-on rates as effective interest rates for contract terms ranging from 1 to 84 months.
|
Term in #
of months
|
Add-on Rates Expressed
As Effective Interest Rates
|
|
|
$12.50 per $100.00
per year
|
$15 per $100.00 per
year
|
|
|
1
|
18.0000
|
18.0000
|
|
2
|
18.0000
|
19.9452
|
|
3
|
18.6541
|
22.3624
|
|
4
|
19.8374
|
23.7670
|
|
5
|
20.5996
|
24.6655
|
|
6
|
21.1215
|
25.2754
|
|
7
|
21.4935
|
25.7054
|
|
8
|
21.7659
|
26.0160
|
|
9
|
21.9688
|
26.2435
|
|
10
|
22.1215
|
26.4109
|
|
11
|
22.2367
|
26.5338
|
|
12
|
22.3232
|
26.6226
|
|
13
|
22.3875
|
26.6849
|
|
14
|
22.4340
|
26.7265
|
|
15
|
22.4664
|
26.7513
|
|
16
|
22.4872
|
26.7626
|
|
17
|
22.4985
|
26.7628
|
|
18
|
22.5020
|
26.7540
|
|
19
|
22.4988
|
26.7375
|
|
20
|
22.4901
|
26.7148
|
|
21
|
22.4768
|
26.6867
|
|
22
|
22.4594
|
26.6542
|
|
23
|
22.4387
|
26.6178
|
|
24
|
22.4150
|
26.5783
|
|
25
|
22.3889
|
26.5360
|
|
26
|
22.3605
|
26.4915
|
|
27
|
22.3304
|
26.4449
|
|
28
|
22.2986
|
26.3968
|
|
29
|
22.2654
|
26.3472
|
|
30
|
22.2311
|
26.2964
|
|
31
|
22.1957
|
26.2446
|
|
32
|
22.1594
|
26.1920
|
|
33
|
22.1224
|
26.1387
|
|
34
|
22.0847
|
26.0848
|
|
35
|
22.0464
|
26.0305
|
|
36
|
22.0077
|
25.9759
|
|
37
|
21.9686
|
25.9210
|
|
38
|
21.9292
|
25.8659
|
|
39
|
21.8895
|
25.8106
|
|
40
|
21.8496
|
25.7553
|
|
41
|
21.8095
|
25.7000
|
|
42
|
21.7693
|
25.6447
|
|
43
|
21.7290
|
25.5894
|
|
44
|
21.6886
|
25.5343
|
|
45
|
21.6483
|
25.4793
|
|
46
|
21.6079
|
25.4245
|
|
47
|
21.5679
|
25.3699
|
|
48
|
21.5273
|
25.3155
|
|
49
|
21.4871
|
25.2613
|
|
50
|
21.4469
|
25.2074
|
|
51
|
21.4069
|
25.1537
|
|
52
|
21.3670
|
25.1003
|
|
53
|
21.3272
|
25.0473
|
|
54
|
21.2876
|
24.9945
|
|
55
|
21.2481
|
24.9420
|
|
56
|
21.2088
|
24.8898
|
|
57
|
21.1696
|
24.8380
|
|
58
|
21.1307
|
24.7865
|
|
59
|
21.0919
|
24.7354
|
|
60
|
21.0533
|
24.6845
|
|
61
|
21.0149
|
24.6341
|
|
62
|
20.9767
|
24.5839
|
|
63
|
20.9387
|
24.5342
|
|
64
|
20.9009
|
24.4847
|
|
65
|
20.8633
|
24.4357
|
|
66
|
20.8259
|
24.3870
|
|
67
|
20.7888
|
24.3386
|
|
68
|
20.7518
|
24.2906
|
|
69
|
20.7151
|
24.2430
|
|
70
|
20.6786
|
24.1957
|
|
71
|
20.6423
|
24.1488
|
|
72
|
20.6063
|
24.1022
|
|
73
|
20.5705
|
24.0559
|
|
74
|
20.5349
|
24.0101
|
|
75
|
20.4995
|
23.9645
|
|
76
|
20.4643
|
23.9194
|
|
77
|
20.4294
|
23.8745
|
|
78
|
20.3947
|
23.8300
|
|
79
|
20.3602
|
23.7859
|
|
80
|
20.3259
|
23.7421
|
|
81
|
20.2919
|
23.6986
|
|
82
|
20.2581
|
23.6555
|
|
83
|
20.2245
|
23.6127
|
|
84
|
20.1911
|
23.5702
|
