Defined term

Total of payments

Total of payments is the amount a consumer will have paid after making all scheduled payments under the disclosed credit obligation, as defined by the applicable rule.

Also known as disclosed total of payments

economics · Concept code GS-CONCEPT-081 · Last verified August 20, 2026

Definition and boundaries

Definition

Total of payments is the amount a consumer will have paid after making all scheduled payments under the disclosed credit obligation, as defined by the applicable rule.

Applicable jurisdiction: US federal disclosure context; applicability is transaction-specific

Definition claim verification: Verified August 20, 2026

In plain language

Use Total of payments only after the cash-flow perspective, timing, contract structure, included costs, and omitted items are made explicit.

What it is not

It is not the cash price, amount financed, finance charge alone, or a prediction that every borrower will follow the schedule unchanged.

Decision context

Why it matters

Compare the actual payment schedule, assumptions, variable or step changes, optional prepayment, separately paid amounts, balloon terms, and what the disclosure includes.

Applicable jurisdiction: US federal disclosure context; applicability is transaction-specific

Decision-context claim verification: Verified August 20, 2026

Information boundary

This page provides general educational context, not a site design, production guarantee, utility determination, contract interpretation, legal opinion, tax conclusion, or individualized financial advice. Verify property, equipment, utility, jurisdiction, program, and agreement details before acting.

Concept relationships

Affects

  • Solar loanPublished conceptTotal of payments can affect how Solar loan is evaluated

Primary sources

What to do next

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