2 Cheap Cars Group (NZSE:2CC) Effective Interest Rate on Debt % : -1.26% (As of Mar. 2024)

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What is 2 Cheap Cars Group Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. 2 Cheap Cars Group's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was NZ$-0.10 Mil. 2 Cheap Cars Group's average total debt for the quarter that ended in Mar. 2024 was NZ$8.10 Mil. Therefore, 2 Cheap Cars Group's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was -1.26%.

2 Cheap Cars Group Effective Interest Rate on Debt % Historical Data

The historical data trend for 2 Cheap Cars Group's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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2 Cheap Cars Group Effective Interest Rate on Debt % Chart

2 Cheap Cars Group Annual Data

Trend

Mar21

Mar22

Mar23

Mar24

Effective Interest Rate on Debt %

1.19

2.93

5.58

3.85

2 Cheap Cars Group Semi-Annual Data
	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial			2.92	5.43	4.87	9.64	-1.26

Competitive Comparison of 2 Cheap Cars Group's Effective Interest Rate on Debt %

For the Auto & Truck Dealerships subindustry, 2 Cheap Cars Group's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

2 Cheap Cars Group's Effective Interest Rate on Debt % Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, 2 Cheap Cars Group's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where 2 Cheap Cars Group's Effective Interest Rate on Debt % falls into.

2 Cheap Cars Group Effective Interest Rate on Debt % Calculation

2 Cheap Cars Group's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Mar. 2023 )	+	Total Debt (A: Mar. 2024 ))	/ count )
=	-1 * -0.34	/	( (8.834	+	8.806)	/ 2 )
=	-1 * -0.34	/	8.82
=	3.85 %

where

	Total Debt (A: Mar. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6.078	+	2.756
=	8.834

	Total Debt (A: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	5.617	+	3.189
=	8.806

2 Cheap Cars Group's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * 0.102	/	( (7.396	+	8.806)	/ 2 )
=	-1 * 0.102	/	8.101
=	-1.26 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	5.782	+	1.614
=	7.396

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	5.617	+	3.189
=	8.806

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is two times the semi-annual (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

2 Cheap Cars Group (NZSE:2CC) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

2 Cheap Cars Group Effective Interest Rate on Debt % Related Terms

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2 Cheap Cars Group (NZSE:2CC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » 2 Cheap Cars Group Ltd (NZSE:2CC) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

102 Mays Road, Onehunga, Auckland, NTL, NZL, 1061

Website

https://www.2cheapcars.co.nz

2 Cheap Cars Group Ltd is an integrated automotive group operating throughout New Zealand via two divisions: Automotive Retail and Finance. The 2 Cheap Cars Group draws revenue from the two divisions: automotive retail division, revenue is primarily from the sale of vehicles and from agent commissions relating to third-party finance and insurance products. NZ Motor Finance (NZMF) generates finance income from lending to customers who are financing vehicles, and from selling guaranteed asset protection insurance (GAP) and payment protection insurance (PPI) products.

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