Amount Financed

Amount Financed

The amount a borrower receives from a lender. The amount financed is usually equal to the principal less any finance charges, such as an application fee or down payment.
References in periodicals archive ?
During the third quarter of 2015, the average amount financed for a new vehicle was $28,936, up $1,137 from the previous year.
As a result, they suffered losses because of inadequate security against the amount financed and they were also not able to secure the pledged stock safely.
For this service, the FHA charges a mortgage insurance premium (MIP), which is calculated in terms of basis points and is a percentage of the amount financed.
Meanwhile, the average amount financed for a new vehicle loan also reached an all-time high of $27,612 in Q1 2014, up $964 from the previous year.
The amount of time it takes to process a loan is subject to how complete the application has been prepared, the amount financed, what the funds purchase, complexity of the business deal, and many other items that the lender must verify before granting approval.
The bank allows deferments of monthly instalments along with a grace period of six months after graduation, which further allows the candidates a reasonable time to find suitable jobs and start repayment of the amount financed.
This step usually generates a lot of questions about purchase price, downpayment and amount financed.
Astra buyers will now benefit from not only a straight pounds 2,000 discount across any car in the range, but also Vauxhall's You Pay, We Pay deal on eligible models, which gives them five per cent cash back on the amount financed, combined with free finance for up to four years and free redundancy cover.
In this structure, the seller becomes a member in the buyer's LLC for the amount financed and gets a fixed return on his/her investment and sometimes (although not necessarily) an interest in the profits as well.