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This question has to do with discounts given on financed purchases.

Customer Question
It is my memory that...
This question has to do with discounts given on financed purchases. It is my memory that years ago a company could not discount an item less than 10% in exchange for cash
Is that still the law (federal law regulation Z or whatever)

And after a financed sales is on the books how much of a discount can be given in say 90 days for the customer to pay in full?
is it limited/
would 25% be a violation
Submitted: 6 years ago.Category: Business Law
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Answered in 3 hours by:
5/1/2011
Business Lawyer: Law Educator, Esq., Attorney replied 6 years ago
Law Educator, Esq.
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Regulation Z (truth in lending) does not specify how much a company can discount a financed purchase for payment in full or early payment (Some companies charge a penalty for early payment as well). This is a matter of contract and if you read Regulation Z you will see that prepayment discounts are not mentioned.


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