Archive of Motor Vehicle Rate Charts
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| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
2012 Motor Vehicle Rate Chart
Effective January 1, 2012 to December 31, 2012 (rate charts from previous years also available)
The maximum rates available for the financing of vehicles in equal monthly installments are found in the Texas Finance Code, Section 348.104. That section specifies add-on rates for four classes of vehicle. The add-on rate is the actual dollars per hundred per year of finance charge calculated on the amount financed. The age of the vehicle determines the add-on rate to use. This chart converts the add-on rates to equivalent annualized percentage rates for contracts with substantially equal monthly payments.
As an alternative to the add-on rates, Section 348.105 of the Texas Finance Code provides an alternate rate of 18%. The 18% effective rate may also be used as an alternative rate for contracts with repayment terms that are not monthly and not substantially equal in amount.
Caution: Do not confuse add-on rates with APRs. You cannot quote add-on rates
to consumers. If the transactions are seller-financed sales tax transactions (sales tax deferred), the “contract rate” shown on the motor vehicle retail installment sales contract cannot exceed the equivalent annualized percentage rates shown below.
Newer Vehicles
To make this chart simpler,
conversions are omitted for Classes 1 and 2 because they result in rates
less than the alternate rate of 18% provided by section 348.105 of the
Texas Finance Code. The following vehicles fall into Classes 1 and 2:
-
Any 2010 or newer vehicle
-
Any used motor vehicle not more than two years old
-
Any new or used heavy commercial vehicle not more than two years old
Used Vehicles
Any 2009 or 2008 can use the Class 3 add-on rate of $12.50 per hundred
per year. Here is the $12.50 add-on rate expressed as equivalent
annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
22.3232% |
22.5020% |
22.4150% |
22.2311% |
22.0077% |
21.5273% |
21.0533% |
Any 2007 or older vehicle can use the Class 4 add-on rate of $15.00 per hundred per year. Here is the $15 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
The OCCC also provides a month-by-month chart expressing the $12.50 and $15 add-on rates as equivalent annualized percentage rates for contracts with substantially equal monthly payments with terms ranging from 1 to 84 months.
If you have any questions concerning the financing of motor vehicles, please contact the Office of Consumer Credit Commissioner at 512.936.7600.
2011 Motor Vehicle Rate Chart
Effective January 1, 2011 to December 31, 2011
The maximum rates available for the financing of vehicles in equal monthly installments are found in the Texas Finance Code, Section 348.104. That section specifies add-on rates for four classes of vehicle. The add-on rate is the actual dollars per hundred per year of finance charge calculated on the amount financed. The age of the vehicle determines the add-on rate to use. This chart converts the add-on rates to equivalent annualized percentage rates for contracts with substantially equal monthly payments.
As an alternative to the add-on rates, Section 348.105 of the Texas Finance Code provides an alternate rate of 18%. The 18% effective rate may also be used as an alternative rate for contracts with repayment terms that are not monthly and not substantially equal in amount.
Caution: Do not confuse add-on rates with APRs. You cannot quote add-on rates
to consumers. If the transactions are seller-financed sales tax transactions (sales tax deferred), the “contract rate” shown on the motor vehicle retail installment sales contract cannot exceed the equivalent annualized percentage rates shown below.
Newer Vehicles
To make this chart simpler,
conversions are omitted for Classes 1 and 2 because they result in rates
less than the alternate rate of 18% provided by section 348.105 of the
Texas Finance Code. The following vehicles fall into Classes 1 and 2:
-
Any 2009 or newer vehicle
-
Any used motor vehicle not more than two years old
-
Any new or used heavy commercial vehicle not more than two years old
Used Vehicles
Any 2008 or 2007 can use the Class 3 add-on rate of $12.50 per hundred
per year. Here is the $12.50 add-on rate expressed as equivalent
annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
22.3232% |
22.5020% |
22.4150% |
22.2311% |
22.0077% |
21.5273% |
21.0533% |
Any 2006 or older vehicle can use the Class 4 add-on rate of $15.00 per hundred per year. Here is the $15 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
The OCCC also provides a month-by-month chart expressing the $12.50 and $15 add-on rates as equivalent annualized percentage rates for contracts with substantially equal monthly payments with terms ranging from 1 to 84 months.
If you have any questions concerning the financing of motor vehicles, please contact the Office of Consumer Credit Commissioner at 512.936.7600.
2010 Motor Vehicle Rate Chart
Effective January 1, 2010 to December 31, 2010
The maximum rates available for the financing of vehicles in equal monthly installments are found in the Texas Finance Code, Section 348.104. That section specifies add-on rates for four classes of vehicle. The add-on rate is the actual dollars per hundred per year of finance charge calculated on the amount financed. The age of the vehicle determines the add-on rate to use. This chart converts the add-on rates to equivalent annualized percentage rates for contracts with substantially equal monthly payments.
As an alternative to the add-on rates, Section 348.105 of the Texas Finance Code provides an alternate rate of 18%. The 18% effective rate may also be used as an alternative rate for contracts with repayment terms that are not monthly and not substantially equal in amount.
Caution: Do not confuse add-on rates with APRs. You cannot quote add-on rates
to consumers. If the transactions are seller-financed sales tax transactions (sales tax deferred), the “contract rate” shown on the motor vehicle retail installment sales contract cannot exceed the equivalent annualized percentage rates shown below.
Newer Vehicles
To make this chart simpler,
conversions are omitted for Classes 1 and 2 because they result in rates
less than the alternate rate of 18% provided by section 348.105 of the
Texas Finance Code. The following vehicles fall into Classes 1 and 2:
-
Any 2008 or newer vehicle
-
Any used foreign vehicle not more than two years old
-
Any new or used heavy commercial vehicle not more than two years old
Used Vehicles
Any 2007 or 2006 and any used 4-year-old
foreign vehicle can use the Class 3 add-on rate of $12.50 per hundred
per year. Here is the $12.50 add-on rate expressed as equivalent
annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
22.3232% |
22.5020% |
22.4150% |
22.2311% |
22.0077% |
21.5273% |
21.0533% |
Any 2005 or older vehicle can use the Class 4 add-on rate of $15.00 per hundred per year. Here is the $15 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
The OCCC also provides a month-by-month chart expressing the $12.50 and $15 add-on rates as equivalent annualized percentage rates for contracts with substantially equal monthly payments with terms ranging from 1 to 84 months.
If you have any questions concerning the financing of motor vehicles, please contact the Office of Consumer Credit Commissioner at 512.936.7600.
2009 Motor Vehicle Rate Chart
Effective January 1, 2009 to December 31, 2009
The maximum rates available for the financing of vehicles in equal monthly installments are found in the Texas Finance Code, Section 348.104. That section specifies add-on rates for four classes of vehicle. The add-on rate is the actual dollars per hundred per year of finance charge calculated on the principal balance subject to a finance charge. The age of the vehicle determines the add-on rate to use. This chart converts the add-on rates to equivalent annualized percentage rates for contracts with substantially equal monthly payments.
As an alternative to the add-on rates, Section 348.105 of the Texas Finance Code provides an alternate rate of 18%. The 18% effective rate may also be used as an alternative rate for contracts with repayment terms that are not monthly and not substantially equal in amount.
Caution: Do not confuse add-on rates with APRs. You cannot quote add-on rates to consumers. If the transactions are seller-financed sales tax transactions (sales tax deferred), the “contract rate” shown on the motor vehicle retail installment sales contract cannot exceed the equivalent annualized percentage rates shown below.
Newer Vehicles
To make this chart simpler, conversions are omitted for Classes 1 and 2 because they result in rates less than the alternate rate of 18% provided by section 348.105 of the Texas Finance Code. The following vehicles fall into Classes 1 and 2:
- Any 2007 or newer vehicle
- Any used foreign vehicle not more than two years old
- Any new or used heavy commercial vehicle not more than 2 years old
Used Vehicles
Any 2006 or 2005 and any used 4-year-old foreign vehicle can use the Class 3 add-on rate of $12.50 per hundred per year. Here is the $12.50 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
22.3232% |
22.5020% |
22.4150% |
22.2311% |
22.0077% |
21.5273% |
21.0533% |
Any 2004 or older vehicle can use the Class 4 add-on rate of $15.00 per hundred per year. Here is the $15 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
12 months 26.6226% |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
The OCCC also provides a month-by-month chart expressing the $12.50 and $15 add-on rates as equivalent annualized percentage rates for contracts with substantially equal monthly payments with terms ranging from 1 to 84 months. If you have any questions concerning the financing of motor vehicles, please contact the Office of Consumer Credit Commissioner at 512.936.7600.
2008 Motor Vehicle Rate Chart
Effective January 1, 2008 to December 31, 2008
The maximum rates available for the financing of vehicles in equal monthly installments are found in the Texas Finance Code, Section 348.104. That section specifies add-on rates for four classes of vehicle. The add-on rate is the actual dollars per hundred per year of finance charge calculated on the amount financed. The age of the vehicle determines the add-on rate to use. This chart converts the add-on rates to equivalent annualized percentage rates for contracts with substantially equal monthly payments.
As an alternative to the add-on rates, Section 348.105 of the Texas Finance Code provides an alternate rate of 18%. The 18% effective rate may also be used as an alternative rate for contracts with repayment terms that are not monthly and not substantially equal in amount.
Caution: Do not confuse add-on rates with APRs. You cannot quote add-on rates
to consumers.
Newer Vehicles
To make this chart simpler,
conversions are omitted for Classes 1 and 2 because they result in rates
less than the alternate rate of 18% provided by section 348.105 of the
Texas Finance Code. The following vehicles fall into Classes 1 and 2:
-
Any 2006 or newer vehicle
-
Any used foreign vehicle not more than two years old
-
Any new or used heavy commercial vehicle not more than two years old
Used Vehicles
Any 2005 or 2004 and any used 4-year-old
foreign vehicle can use the Class 3 add-on rate of $12.50 per hundred
per year. Here is the $12.50 add-on rate expressed as equivalent
annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
22.32% |
22.50% |
22.42% |
22.23% |
22.01% |
21.53% |
21.05% |
Any 2003 or older vehicle can use the Class 4 add-on rate of $15.00 per hundred per year. Here is the $15 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
12
months |
18
months |
24
months |
30
months |
36
months |
48 months 25.32% |
60
months |
The OCCC also provides a month-by-month chart expressing the $12.50 and $15 add-on rates as equivalent annualized percentage rates for contracts with substantially equal monthly payments with terms ranging from 1 to 84 months.
If you have any questions concerning the financing of motor vehicles, please contact the Office of Consumer Credit Commissioner at 512.936.7600.
2007 Motor Vehicle Rate Chart
Effective January 1, 2007 to December 31, 2007
The maximum rates available for the financing of vehicles in equal monthly installments are found in the Texas Finance Code, Section 348.104. That section specifies add-on rates for four classes of vehicle. The add-on rate is the actual dollars per hundred per year of finance charge calculated on the amount financed. The age of the vehicle determines the add-on rate to use. This chart converts the add-on rates to equivalent annualized percentage rates for contracts with substantially equal monthly payments.
As an alternative to the add-on rates, Section 348.105 of the Texas Finance Code provides an alternate rate of 18%. The 18% effective rate may also be used as an alternative rate for contracts with repayment terms that are not monthly and not substantially equal in amount.
Caution: Do not confuse add-on rates with APRs. You cannot quote add-on rates
to consumers.
Newer Vehicles
To make this chart simpler,
conversions are omitted for Classes 1 and 2 because they result in rates
less than the alternate rate of 18% provided by section 348.105 of the
Texas Finance Code. The following vehicles fall into Classes 1 and 2:
-
Any 2005 or newer vehicle
-
Any used foreign vehicle not more than two years old
-
Any new or used heavy commercial vehicle not more than two years old
Used Vehicles
Any 2004 or 2003 and any used 4-year-old
foreign vehicle can use the Class 3 add-on rate of $12.50 per hundred
per year. Here is the $12.50 add-on rate expressed as equivalent
annualized percentage rates for common contract terms:
12 months |
18 months |
24 months |
30 months |
36 months |
48 months |
60 months |
22.32% |
22.50% |
22.42% |
22.23% |
22.01% |
21.53% |
21.05% |
Any 2002 or older vehicle can use the Class 4 add-on rate of $15.00 per hundred per year. Here is the $15 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
12
months |
18
months |
24
months |
30
months |
36
months |
48 months 25.32% |
60
months |
The OCCC also provides a month-by-month chart expressing the $12.50 and $15 add-on rates as equivalent annualized percentage rates for contracts with substantially equal monthly payments with terms ranging from 1 to 84 months.
If you have any questions concerning the financing of motor vehicles, please contact the Office of Consumer Credit Commissioner at 512.936.7600.
2006 Motor Vehicle Rate Chart
Effective January 1, 2006 to December 31, 2006
The maximum rates available for the financing of vehicles in equal monthly installments are found in the Texas Finance Code, Section 348.104. That section specifies add-on rates for four classes of vehicle. The add-on rate is the actual dollars per hundred per year of finance charge calculated on the amount financed. The age of the vehicle determines the add-on rate to use. This chart converts the add-on rates to equivalent annualized percentage rates for contracts with substantially equal monthly payments.
As an alternative to the add-on rates, Section 348.105 of the Texas Finance Code provides an alternate rate of 18%. The 18% effective rate may also be used as an alternative rate for contracts with repayment terms that are not monthly and not substantially equal in amount.
Caution:
Do not confuse add-on rates with APRs. You cannot quote add-on
rates to consumers.
Newer Vehicles
To make this chart simpler,
conversions are omitted for Classes 1 and 2 because they result in rates
less than the alternate rate of 18% provided by section 348.105 of the
Texas Finance Code. The following vehicles fall into Classes 1 and 2:
-
Any 2004 or newer vehicle
-
Any used foreign vehicle not more than two years old
-
Any new or used heavy commercial vehicle not more than two years old
Used Vehicles
Any 2003 or 2002 and any used 4-year-old
foreign vehicle can use the Class 3 add-on rate of $12.50 per hundred
per year. Here is the $12.50 add-on rate expressed as equivalent
annualized percentage rates
for common contract terms:
|
12 months |
18 months |
24 months |
30 months |
36 months |
48 months
|
60 months |
|
22.32% |
22.50% |
22.42% |
22.23% |
22.01% |
21.53%
|
21.05% |
Any 2001 or older vehicle can use the Class 4 add-on rate of $15.00 per hundred per year. Here is the $15 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
|
12
months |
18
months |
24
months |
30
months |
36
months |
48 months
25.32% |
60
months |
The OCCC also provides a month-by-month chart expressing the $12.50 and $15 add-on rates as equivalent annualized percentage rates for contracts with substantially equal monthly payments with terms ranging from 1 to 84 months.
If you have any questions concerning the financing of motor vehicles, please contact the Office of Consumer Credit Commissioner at 512.936.7600.
2005 Motor Vehicle Rate Chart
Effective January 1, 2005 to December 31, 2005.
The maximum rates available for the financing of vehicles in equal monthly installments are found in the Texas Finance Code, Section 348.104. That section specifies add-on rates for four classes of vehicle. The add-on rate is the actual dollars per hundred per year of finance charge calculated on the amount financed. The age of the vehicle determines the add-on rate to use. This chart converts the add-on rates to equivalent annualized percentage rates for contracts with substantially equal monthly payments.
As an alternative to the add-on rates, Section 348.105 of the Texas Finance Code provides an alternate rate of 18%. The 18% effective rate may also be used as an alternative rate for contracts with repayment terms that are not monthly and not substantially equal in amount.
Caution:
Do not confuse add-on rates with APRs. You cannot quote add-on
rates to consumers.
Newer Vehicles
To make this chart simpler,
conversions are omitted for Classes 1 and 2 because they result in rates
less than the alternate rate of 18% provided by section 348.105 of the
Texas Finance Code. The following vehicles fall into Classes 1 and 2:
-
Any 2003 or newer vehicle
-
Any used foreign vehicle not more than two years old
-
Any new or used heavy commercial vehicle not more than two years old
Used Vehicles
Any 2002 or 2001 and any used 4-year-old
foreign vehicle can use the Class 3 add-on rate of $12.50 per hundred
per year. Here is the $12.50 add-on rate expressed as equivalent
annualized percentage rates
for common contract terms:
|
12 months |
18 months |
24 months |
30 months |
36 months |
48 months
|
60 months |
|
22.32% |
22.50% |
22.42% |
22.23% |
22.01% |
21.53%
|
21.05% |
Any 2000 or older vehicle can use the Class 4 add-on rate of $15.00 per hundred per year. Here is the $15 add-on rate expressed as equivalent annualized percentage rates for common contract terms:
|
12
months |
18
months |
24
months |
30
months |
36
months |
48 months
25.32% |
60
months |
The OCCC also provides a month-by-month chart expressing the $12.50 and $15 add-on rates as equivalent annualized percentage rates for contracts with substantially equal monthly payments with terms ranging from 1 to 84 months.
If you have any questions concerning the financing of motor vehicles, please contact the Office of Consumer Credit Commissioner at 512.936.7600.
