A customer is interested in obtaining a loan to purchase an automobile for personal use. However, his income appears to be seasonal in that he states he receives his income twice a year, once in July and again in September. He wants the term to be 4 years with the 2 payments - 1 in July and 1 in September. The loan will be secured by the automobile. We are not sure how we disclose this for Reg Z purposes in the fed box (APR, etc.)? Our loan platform won't accomodate this type of payment schedule without some serious manipulating. Can we set this up as a 48 month loan with deferred payments or is this too difficult? Has anyone had a situation like this? Thank you.

Would it be too much to hope that the amount financed is more than $25,000? Cars are pretty dear these days. If more than $25 grand, you can write it on business loan paper and not worry about Z.

Service the loan on your commercial loan system and compute the TIL with Excel.