PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How do you figure out the APR on a car loan?
Is there a way to figure out the APR on a car loan if I have the other information about the loan? I can't find it on my loan agreement.
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
To figure out the
APR
on a car loan, you can contact your lender. They can provide you with details about your loan, including the APR.If you’d prefer to do it yourself, you can calculate your APR using the following equation:
APR = (((total fees + total interest / principal) / days in the loan term) 365) 100)
Another option is to use Excel and the RATE function. The equation is as follows:
=RATE(number of payments, payment amount, value of loan minus any fees required to get the loan, final value) 12
After completing your calculations, it wouldn’t hurt to check in with your lender. Getting your APR directly from your lender can give you peace of mind and ensure you’re making good financial decisions.
If you’re worried about your car’s interest rate, consider refinancing with the
Jerry
app. Download Jerry to see if refinancing your car loan can save you hundreds of dollars per month.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies