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# LATE FEE INFORMATION

** LATE FEE PENALTIES: Is 5% of payment or \$18, whichever is greater of the two.
IMPORTANT: A late fee will hit every time an account is NOT brought to a ZERO balance and is more than 3 days past due. If a payment is ever missed, the payment AND late fee, BOTH, must also be paid with or before the next payment or another late fee will hit after 3 days.

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- IF you make a partial payment on or before the grace period, you will still be charged a late fee.

### EXAMPLE 1

- A \$400 XYZ car payment is past due, a Late fee would be \$20 for a total of \$520 due before next payment.

(\$400+\$20 {5% of 400])

### EXAMPLE 2

- A \$70 XYZ car payment is past due, a Late fee would be \$18 for a total of \$88 due before next payment.

(\$70+\$18)

### EXAMPLE 3

- Two \$70 XYZ car payments are past due, A Late Fee of \$18 hit last week and now ANOTHER \$18 fee Hit for a total of: \$176 Due (\$70 + \$70 + \$18 + \$18).

### EXAMPLE 4

- \$500 payment, 11 days late = \$25 late fee, so a total of \$525 MUST be paid

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