This Is How Much Interest You’ll Pay on Your Car Loan

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Along with the loan comes interest, which is the cost ofborrowing moneyfrom a lender.

This comprehensive breakdown explainshow much interest will be paid on a car loan.

Lastly, a down payment reduces the total loan amount and can decrease interest costs.

Note that these calculators typically take the loan term in months, not years.

check that to use decimals for the APR.

First, work on boosting your credit score before applying, as higher scores often qualify for lower rates.

Adding extra payments whenever possible can further shorten the term and reduce interest costs.

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