How do you calculate the total interest paid on a car loan?
After seven years and 84 monthly payments, I have finally finished repaying my car loan and have the free and clear title in hand. I never calculated the total interest paid for fear of how expensive it is, but now that it’s paid off, I’d like to know. How can I calculate the total interest on a car loan? It was an 84-month $37,000 loan with a 9.6% interest rate.