Hire Purchase Penalty Calculator
Calculate late payment penalties for car hire purchase agreements
Hire Purchase Penalty Calculator
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Total penalty฿0.00
- Total amount owed
- ฿0.00
- Daily penalty
- ฿0.00
- Risk level
- 0
Results are estimates only
Formula
Penalty = installment × monthly penalty rate × days late ÷ 30
Data as of
Results are estimates only
FAQ
Under the Hire Purchase Act, after 3 consecutive missed installments, the financier must send a 30-day notice before contract termination. Typically 90-120 days total.
Usually 0.5-3% per month of the overdue amount. Some contracts charge a flat daily fee of 200-500 THB/day.