Calculate Your Auto Loan Interest Rate
The interest rate on your next vehicle purchase determines the total additional amount that the car will cost you. A low monthly payment could also carry a high interest rate that raises the total amount paid for the car.
Use the following calculator to manipulate the various factors that determine the final loan for the vehicle. These factors include items such as a manufacturer’s rebate, the trade-in value of your old vehicle less any outstanding balance, and your down payment. Once the loan amount is determined the interest rate and the term of the loan will be used to estimate your vehicle payment and the total amount you will pay in interest.
This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.
Published by permission from ConsumerInfo.com, Inc., an Experian company. © 2014 ConsumerInfo.com, Inc. All rights reserved.