Car financing: Is usurious interest rate allowed?

I bought a car with existing mortgage with a financing company. The mortgage was for a P310,000 payable for 36 months. The mortgage stipulates a 48.84% interest for the period of 3 years or P151,404. Monthly amortization is P12,817 for 36 months. The seller has paid 6 months amortization and I assumed his accountability. After 18 months; or a total of 24 months amortization payments, I proposed to settle the account. I surmise that I will pay the principal balance. PDCs still outstanding is in the total amount of P153,804. I computed the effective interest rate to be at 28% and expect the principal balance at around P130k to P135k. To my surprise I was asked to pay P149+k. For paying the loan 1 year in advance, they computed a rebate of P5+k which I find disgusting. I defer the payout but I would like to explore if the practices of the financing company is not considerd usurious? I need legal advice.

There is no ceiling as to interest that can be imposed as long as it is agreed upon by the parties. The Usury Law has long been suspended.

However, there is a civil code which provides that if an interest is unconscionable then the court can reduced the same depending on the circumstances and nature of the transactions.

What are the possible reliefs of the borrower in this case? No way but finish the term? para hindi masyadong agrabyado?