How to Read the TILA Box
4 numbers that can change how much your solar loan really costs
Truth in Lending Disclosure
This disclosure shows the credit terms for financing your solar system.
Annual Percentage Rate6.99%The cost of your credit as a yearly rate.
Finance Charge$31,450The dollar amount the credit will cost you.
Amount Financed$42,000The amount of credit provided to you or on your behalf.
Total of Payments$73,450The amount you will have paid after all scheduled payments.
APR = the annual cost of borrowing
Finance Charge = what borrowing the money costs overall
Amount Financed = the amount being financed
Total of Payments = what you may pay over time if the loan runs its full course
Ask your installer for the solar system's cash price in writing before you sign.
Bennett Legal — for general information only, not legal advice.