car loan calculator | CP-Finance

Using a car loan payment calculator can help you determine how much your monthly payment will be and also allow you to compare your payment with other loans. You can also calculate the amount of interest you’ll pay, and even trade-in value.

Interest rate vs annual percentage rate (APR)

Using an interest rate vs annual percentage rate (APR) in car loan payment calculator is a great way to determine the cost of borrowing money. Having a firm understanding of the difference between these two numbers can help you avoid misunderstandings and pay a lot less for your loan.

Interest rate is a percentage of the principal amount of a loan, while APR is a percentage of the amount financed. APR is a better measure of a loan’s cost because it takes into account all of the fees and expenses associated with the loan.

While a lower interest rate can result …