APR Calculator – Auto
Calculate your auto loan APR, monthly payments, and total interest. Compare different loan terms and interest rates to find the best auto financing option.
Step 1: Loan Details
Understanding APR
APR (Annual Percentage Rate) represents the true yearly cost of your auto loan, including interest and fees. A lower APR means you’ll pay less over the life of the loan.
Step 2: Interest & Fees
About Auto Loans
Auto loans typically range from 2-7 years (24-84 months). Shorter terms have higher monthly payments but lower total interest. Your credit score significantly impacts the APR you’ll qualify for.
Auto Loan APR Calculation Results
Estimated Monthly Payment
Loan Term Comparison
| Loan Term | Monthly Payment | Total Interest | Total Cost | Interest Savings |
|---|
Payment Breakdown Over Loan Term
APR Calculation Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n – 1]
Where P = Loan Principal, r = Monthly Interest Rate (APR/12), n = Number of Payments. This formula calculates the fixed monthly payment required to fully amortize a loan over its term.
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