How Do I Calculate APR on an Auto Loan?

There is nothing like buying a new car. That new car smell, the safety features and the process of calculating the APR on your auto loan – it’s definitely a memorable experience. APR stands for annual percentage rate and is the basic counterpart to the interest rate that the borrower needs to pay on a loan. When trying to calculate APR on an auto loan, APR helps to compare rates offered to the consumer across the board.

The best way to calculate APR on an auto loan is to use an online rate calculator, which are numerous and can be found throughout the internet. You can even find one that will calculate your auto loan amortization.

Since use this auto loan calculator to help determine the APR, the use the time saved calculating those numbers to research your credit score to ensure a good APR offer, or comparing auto loans to find the best offer based on your history and thoroughly researching the car you intend to purchase. With all this knowledge at hand, you will have all the skills needed to get the best car purchase deal possible.