finance charges

  

Definition

Total cost of borrowing, including interest charges, commitment fees, and other charges paid by the borrower for availing the loan facility. See also cost of capital.

Use finance charges in a sentence

  • I wondered if there would be any finance charges, so I decided to consult with my friend who had a degree in that area.

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  • You need to understand how the finance charges will add up when you are thinking about taking out a loan.

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  • Because of the high finance charges, I had to let go of my financial advising firm; instead, I bought the book "Capital Cost for Dummies."

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