An interest rate is the amount of interest you will pay on top of the principal cost of the loan. The interest is a fee you pay the automotive loan lender for borrowing their money to buy your new car or used vehicle. The interest rate you get depends on several factors:
To calculate auto loan interest for the initial payment you can use this calculation:
The result is the amount of interest you pay the first month.
Once you’ve begun to pay down your initial loan principal you’ll want to calculate your new balance to figure out what interest you’ll pay in the following months:
You may not have an exact calculation due to human error or number rounding, this gives you a solid basis for how to calculate the interest rate on a car loan.
If you’re still not sure about calculating interest or you have more finance-related questions, contact us or drop by our finance department in Denver. We love helping drivers from Aurora to Parker.
|
Looking for some Valentine’s Day date night ideas in Denver, CO? You can always head to Denver escape room for a double date, or you can explore one of Denver’s many museums. But when it comes to cute Valentine’s Day date ideas in the Aurora area, you’ve come to the right place. This guide from…
Choose the 2019 Acura RDX to enjoy a high-end and functional interior in Aurora. Explore the 2019 Acura RDX interior with this guide from Mile High Acura. 2019 Acura RDX Overview Acura RDX for Sale Interior Dimensions The 5-passenger 2019 RDX interior provides plenty of space and functionality. With features like rear cargo underfloor storage and 60/40…
Whether you’re a pro at navigating in the cold or you’re new to driving in winter, our winter driving tips in Denver will help our neighbors escape the experience with their vehicle — and sense of humor — intact. Contact Us What Happens if You Don’t Change Your Oil? Prepare Your Vehicle Prepare your vehicle…
You don't have any saved vehicles!
Look for this link on your favorites:
Once you've saved some vehicles, you can view them here at any time.
2799 S Havana St • Denver, CO 80014
Get DirectionsOpen Today! Sales: 8:30am-8pm
Phone: (303) 369-7800
http://maps.google.com/?q=2799%20%20S%20Havana%20St%2C%20Denver%2C%20CO%2080014