How to Calculate Annual Percentage Rate on a Car Loan?

Find the loan amount

Find the monthly payment

Find the loan term in months

Find the total of all payments

Subtract the loan amount from the total of all payments

Add any upfront loan fees to the result

Divide the total finance charge by the loan amount

Divide that result by the loan term in years

Multiply by 100 to get an approximate APR

Use an APR calculator or amortization formula for an exact APR

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