divide the total loan and interest amount by the loan term

 is more complicated than that, though. APR includes all the fees of your loan rolled into the principal balance, so it requires some specific calculations. To calculate APR, add all of the fees and interest that you will have to pay during the loan, and then do the following:

If you have done the calculations correctly, you should end up with your APR as a result. 

APR is what determines how much interest you pay over the life of your loan. If you feel like you’re paying too much, try 

 app to help you find the best deals. Jerry is a great resource for comparing loan options from multiple lenders. Use our refinance calculator and avoid the hassle of searching for lenders yourself. Jerry makes it easy by finding the best lenders at the best rates. On average, car owners pay $85 less every month by refinancing their auto loan.

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Faye Bunsocan

Latest Answers by Faye Bunsocan

How do you calculate APR interest on a car loan?

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