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Is it right for an auto financing company to charge interest on a monthly basis without adjusting interest charges for bi-monthly payments?

Asked by Garebo (3190points) September 25th, 2010

As a convenience to pay bi-monthly, I see they still charge usury as if it was a monthly payment.
I think they should adjust accordingly-they see otherwise, obviously, there is no advantage besides convenience and more interest or money for the financial institution, or more to squander on derivatives.

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