** Research New & Used Cars**, Compare Models and Get Advice from Our Car Experts Get Instantly Matched With The Ideal Auto Finance Option. Compare & Apply Today Multiply your monthly percentage rate times your principal. If, for example, your principal were $20,000 (if you borrowed $20,000 to buy your car), you would multiply this by 0.007 (from the previous step) and get 140. 4 Input this number into the monthly payment formula To determine how much you can expect to pay in finance charges over the life of the loan, multiply the Monthly Payment Amount by the Number of Payments, minus the Amount Borrowed. This should give you the Total Amount of Finance Charges that you can expect to pay

As an example, calculate the finance charge for a $25,000 car loan given with APR of 6.0 percent for five years. Step 1 Calculate the loan duration in months by multiplying the number of years and 12. In this example, the five-year loan would be multiplied by 12 to give you 60 months ** Total purchase price (before tax) This is the total cost of your auto purchase**. Include the cost of the vehicle, any additional options and any destination charges. Don't include sales tax in this.. Finance Charge = Current Balance * Periodic rate, where Periodic Rate = APR * billing cycle length / number of billing cycles in the period. For example, following is how we calculate the finance charge for a loan of $1,000 with a 18% APR and a billing cyles of 25 days. 1 Estimate your monthly payments with Cars.com's car loan calculator and see how factors like loan term, down payment and interest rate affect payments

The rule says that you first need to calculate the periodic rate by dividing the nominal rate by the number of billing cycles in the year. Then the balance gets multiplied by the period rate in order to have the corresponding amount of the finance charge. Finance charge calculation methods in credit card If only the monthly payment for any auto loan is given, use the Monthly Payments tab (reverse auto loan) to calculate the actual vehicle purchase price and other auto loan information The simplest way to calculate a finance charge is: balance X monthly rate For this example, we'll say each billing cycle lasts a month (so there are 12 billing cycles in the year) and that you have a $500 credit card balance with an 18% APR The finance charge that is associated with your car loan is directly contingent upon three variables: loan amount, interest rate, and loan term. Modifying any or all of these variables will change the amount of finance charges you will pay for the loan

** Calculator Use The Advanced APR Calculator finds the effective annual percentage rate (APR) for a loan (fixed mortgage, car loan, etc**.), allowing you to specify interest compounding and payment frequencies. Input loan amount, interest rate, number of payments and financing fees to find the APR for the loan Calculation of the finance charges for 10 days will be, (350 * 0.20 * 10) / 365 = $ 1.92, so the borrower will have to pay the final amount of $350 + $1.92 = $351.92. Example of a Finance Charge Let us take an example of Mr Smith who has a mortgage loan $2000 and his monthly EMI is $100 for 20 months which includes 15% interest per annum

And finally, I know that the finance charge for this loan is $9867.03. What I'm trying to do is calculate participation, which means I need to calculate what the finance charge would be at 15.99%, and so forth. All the information is there, I just can't seem to figure it out and I'm pretty frustrated at it * There is no single formula that can determine the exact finance charges of your car loan*. Typically, most car loan computations only factor in your principal, interest rate, loan term, down payment or balloon payment and repayment frequency. Nevertheless, these computations provide a good estimate of how much your car financing really cost The first month, your payment pays 12/78s of the loan's interest. Add the numerical values for all of the months in your repayment term. For example, if you have a 12-month loan, add 1+2+3+4+5+6+7+8+9+10+11+12 = 78. Calculate the interest you will pay over the life of the loan using the formula I = R x T, where I = interest, R = rate and T = time This loan calculator will help you determine the monthly payments on a loan. Simply enter the loan amount, term and interest rate in the fields below and click calculate. This calculator can be..

For installment loans, such as personal, auto, student and mortgage loans, the APR and interest rate may be the same if there are no finance charges. However, if there is a finance charge, such as an origination fee , the APR will be higher than the interest rate because your cost of borrowing is more than the interest charges alone

- Loan amount = $ 1000 APR = 15% Billing frequency/cycle duration = monthly
- The monthly payment on a five-year
**loan**for $30,287 at 6% interest would be $585.53. You would pay $35,131.80 in monthly payments. Throw in the 10% down payment, and the car costs $38,497 - d that interest rates vary by lender, and a range of other factors can affect the APR you're offered. Here are a few

- e how much you can afford, you need to calculate the finance charges by factoring in the loan's principal, down payment, interest rate, term, repayment frequency, and balloon payment when calculating your car loan
- Here's how to calculate APR for a car loan in four steps: Get the total payment amount by multiplying the monthly payment by the term of the loan in months. Subtract the amount borrowed from the total payment amount to find the loan's total interest payments
- e the number of payments you will make on your car loan by multiplying the number of years in the term of the loan by 12. For example, a five-year car loan has 60 monthly payments. Step 2 Divide the annual interest rate by 12, the number of payments you will make per year
- imum loan term of 12 months and
- Anything above the principal on the loan is a finance charge. To find out how much you will pay in finance charges over the course of a fixed term mortgage, multiply the number of payments you'll..

- e repayment plan, interest cost, and amortization schedule of conventional amortized loans, deferred payment loans, and bonds. Also, learn more about different types of loans, experiment with other loan calculators, or explore other calculators addressing finance, math, fitness, health, and many more
- Calculate your monthly car repayments as well as total payment and total interest based on vehicle price
- e the total finance charges for the life of the loan, assu
- To calculate the monthly payment on an auto loan use this car payment formula: c = Monthly Payment. r = Monthly Interest Rate (in Decimal Form) = (Yearly Interest Rate/100) / 12. P = Principal Amount on the Loan. N = Total # of Months for the loan ( Years on the loan x 12
- About our car loan calculator. Use our auto loan calculator to estimate your monthly car payment based upon the price of the car, your down payment and trade-in allowance, taxes and fees, and the interest rate and term of your auto loan. See how changing one factor (such as your down payment, term or the interest rate of the car loan) will.
- An auto loan calculator can give you the information you need about what you can afford, what interest you might pay monthly and how much interest you'll pay over the life of your auto loan. It's a great way to go into any purchase negotiation with insight into your finances and what you can expect a dealer to offer you
- Calculator Use. The Advanced APR Calculator finds the effective annual percentage rate (APR) for a loan (fixed mortgage, car loan, etc.), allowing you to specify interest compounding and payment frequencies. Input loan amount, interest rate, number of payments and financing fees to find the APR for the loan

- Calculate the loan payment for a $17,000 car or truck. What's the monthly payment? How much will be paid in interest? How much is a $17,000 auto loan? Common loan lengths are 3 years, 4 years, or 5 years. $17,000 Car Loan. Monthly Payment by Years and Interest Rate. Rate 3 Years (36 months) 4 Years (48 months) 5 Year
- The monthly payment on a five-year loan for $30,287 at 6% interest would be $585.53. You would pay $35,131.80 in monthly payments. Throw in the 10% down payment, and the car costs $38,497
- Calculate the loan payment for a $20,000 car or truck. What's the monthly payment? How much will be paid in interest? How much is a $20,000 auto loan? Common loan lengths are 3 years, 4 years, or 5 years. $20,000 Car Loan. Monthly Payment by Years and Interest Rate. Rate 3 Years (36 months) 4 Years (48 months) 5 Year
- The average daily balance method is one of the ways a credit card issuer can calculate finance charges on your credit card. Finance charges are how your credit card issuer charges interest on balances you carry beyond the grace period. Paying a finance charge increases the cost of your credit card debt beyond the original purchase price
- Dealer trick #3: Imposing finance charge markups. You've picked the car you want to buy, and now the finance manager is searching his computer for the best deal on a loan. The dealership is not required to tell you the cheapest loan you've qualified for and can legally pad the interest rate with a couple percentage points for themselves
- Car Loan Calculator: Estimate Your Auto Loan Payments by Philip Reed Calculate your monthly car payment and see how term, interest rate and credit score change the result. Auto Loan Refinance.

How finance charges and interest are calculated on a DCU loan. DCU Visa ® Credit Card Finance Charges Interest (Finance Charge) is a fee charged on every Visa account that is not paid in full by the payment due date or on every Visa account that has a cash advance When you're done, you should have a nice, clean calculator that can take the basic inputs of a loan to calculate a monthly payment! Car Loan Calculator Example. My worksheet from this tutorial is available below. You can play around with different values for the interest rate, loan amount, and term to get different results The daily finance charge amount would be calculated as follows: ($12,095.09 x .09) / 365 = $2.9824 The total amount of finance charges included in the payoff would be: Daily finance charge amount x (number of days since last payment + = Total amount of number of days payoff is valid) finance charges $2.9824 x (14 + 10) = $71.5 Auto loan interest is killing us so there should be a law like my principal is10000 finance charge 4000 so if I pay off the principal that's it the loan is paid off 36 Amy N. on March 24, 2018 at 12:05a

Before buying a car, you first need to understand what your monthly loan payment will be. Use our car loan repayment calculator to see the total principal and interest you'll owe each month, depending on the loan amount, annual interest rate, and the length of time over the loan will be repaid (also known as the term) ** Rates on new-car loans tend to be lower than rates on used-car loans**. The average interest rate on a used car loan was 9.65% in the first quarter of 2020, compared to 5.61% on a new-car loan, according to Experian's State of the Automotive Finance Market report. Interest rate environment. Interest rates aren't static This calculator is a self-help tool. The information provided is for illustrative purposes only, and is not an offer to lend. Tax, title, license and other fees and finance charges are not included. You must qualify for credit from a dealer/lender The APR accounts for the total finance charge you pay on your loan in a given year. The finance charge is made up of both your interest charges and your prepaid finance charges, which are various charges rolled into your loan amount that can include different loan fees and the interest that accumulates to the day of your first loan payment

- istrative fee. The amount financed and loan fees are called the principal. Here is an example to illustrate what makes up a precomputed.
- Amortization describes the process of gradually paying off your auto loan. In an amortizing loan, for each of your monthly payments, a portion is applied towards the amount of the loan - the principal - and a portion of the payment is applied towards paying the finance charge - the interest
- Our auto loan payment calculator can help estimate the monthly car payments of your next vehicle. Enter the detail about your down payment, cost of car, loan term and more. You'll easily see how these factors may affect your monthly payment. Get started with our auto payment calculator and get an estimate of your monthly car payment in an instant
- An interest-only loan is where you as the borrower simply pay the accruing finance charges on the money borrowed, which means that the amount you owe never decreases. At the end of the loan's stated term, you will need to either convert the balance owed to a conventional loan or pay the loan off with cash or other liquid assets
- The car and truck finance calculator also allows you to compare the total cost when including the taxes and fees in the loan, versus excluding them from the loan. Plus, unlike other auto finance calculators, the calculator in this web-app will also calculate if and for how long you might be upside down in the car loan

The result is the loan's total finance charge. You can now calculate the APR using the method explained above. As an example, let's calculate the APR on a $1,000 payday loan with a 14-day term that charges $20 for every $100 you borrow. Divide the total loan ($1,000) by 100. Multiply the result (10) by the fixed fee ($20) for every $100 Total Finance Charge: The amount of money a consumer pays for borrowing money on a credit card. The finance charge is a fee that applies when you carry a balance on your credit card past the due. Use our Car Payment Calculator to assess the amount of your monthly car payment. You can adjust calculations like interest rate and loan length quickly and easily Calculator Use. Use this loan calculator to determine your monthly payment, interest rate, number of months or principal amount on a loan. Find your ideal payment by changing loan amount, interest rate and term and seeing the effect on payment amount

Though it may seem intimidating, it's actually relatively easy to calculate monthly loan payments in Excel. In fact, Excel has a function built into the program that calculates monthly payments for you. All you need to do is enter the specifics of the loan and you can determine monthly mortgage, car loan, and even student loan payments **Auto** **Loans**: **Finance** **charges** may include any costs that you have to pay according to the terms of the **loan**. These costs may consist of interest fees, application fees, filing fees, etc. Personal **Loans**: **Finance** **charges** include all interest and any fees that you must pay to take out the **loan**. Avoiding **Finance** **Charges**

This finance calculator works out the monthly payment that's right for you on a loan for a car. Use our car loan calculator to make a sound purchasing decision! This finance calculator works out the monthly payment that's right for you on a loan for a car. Created with Sketch Estimate loan payments, projected overhead, and debt load to help you with your decision. You can also estimate how long it may take to get a return on your investment (ROI). How to use the calculators. Select a calculator below. Enter inputs where indicated. Select Calculate to generate results Yes, it is legal. There is not a law against keeping hidden finance charges hidden when it comes to auto financing. After all, car dealers make the argument that their finance managers have the right to earn a commission on helping customers obtain financing, and the average dealer reserve adds $850 to the price of a car Step 3: Calculate the weekly payment amount. Weekly payment amount = total repayments divided by loan period, T, in weeks. In this case, $1860 divided by 104 weeks equals $17.88 per week. Calculating simple finance charges is easy once you have done some practice with the formulas Wells Fargo is a leading auto lender with more than 12,000 dealer relationships nationwide. Ask if Wells Fargo financing is an option when purchasing for your next vehicle. Before you go to the dealership: Learn more about vehicle financing; Calculate your monthly car paymen

Getting to know how simple interest car loans work is a helpful step when shopping for credit or repaying a loan, and may enable you to save. Most auto lenders, such as RoadLoans and parent company Santander Consumer USA, provide simple interest financing, so watch our video and read on to learn more Plugging Edmunds' averages into an auto loan calculator, a person financing the $27,615 car at 2.8% for 60 months will pay a total of $2,010 in interest. The person who moves up to a $30,001 car. Auto loans typically charge fairly low rates as it is quite easy for lenders to reposess vehicles if the borrower fails to pay their obligations. Mortgages and equity loans are usually utilized specifically for home purchases and other large projects like home improvements which can be expensive to pay for using any other form of financing that. The average auto loan hit a record of $31,455 in the first quarter of 2018, with the average used car loan running $19,708. Americans have over $1 trillion in motor vehicle credit outstanding.The following table from Experian shows how much people with various credit ratings typically are charged for loans But auto loan finance companies will be more likely to use precomputed interest, or simple interest. Setting up extra principal payments on a car loan. Some car lenders will not accept principal only payments. If you use this calculator and set it up for extra payments every month, it shows you'll pay less in overall finance charges

- Bi-weekly Payments for an Auto Loan This calculator shows you possible savings by using an accelerated bi-weekly payment on your auto loan. By paying half of your monthly payment every two weeks, each year your auto loan company will receive the equivalent of 13 monthly payments instead of 12
- The car loan calculator will allow you to see the numbers so you know how much you will pay for your car loan. When using the car loan calculator to know how much to borrow always try to set realistic loan limits, after that our lenders will be in charge of helping you achieve your final goal
- If you can tick that box, you can get some significant savings: A buyer who gets a zero percent interest deal on a $25,000, 60-month loan would save $3,300 in interest charges, compared to a loan.
- Get estimated rates and monthly payments on auto financing
- Use the Tesla loan calculator to estimate monthly payments based on down payment, vehicle model, mileage and lending terms
- Why an Auto Loan Calculator is Important. If you're planning on financing your new vehicle purchase, the overall price of the vehicle isn't really the number you need to pay attention to. The most important number, for you, is the payment. Because, as our auto loan calculator will show you, the price you ultimately end up paying depends on.

Your Rent Charge (or Finance Fee) is the cost you pay to your leasing company for the use of the money that purchased the car. If you took out a loan, you would pay this in the form of a straight interest payment. A Finance Fee on a lease is calculated slightly differently than a traditional interest payment A finance charge is the cost the lender charges you for the extension of credit. A finance charge includes charges from accrued interest and other fees that are added to the principal of the loan. If you're considering a personal loan, it can help to see what you might pay each month. 1 Use our simple loan payment calculator to create monthly payment options and picture how they could fit into your budget. Just enter a loan amount, click Calculate and adjust the Annual Percentage Rate (APR) for instant examples How to Use the Auto Loan Calculator. Our car payment calculator is designed to help you determine two estimated main factors: The loan amount you need to finance. Your monthly payments. To use the loan calculator, simply: Enter the retail price of the vehicle. Remember, you might get a better price at the dealership; this step is just to get. Auto Loan Monthly Payment Calculator. Estimate what you'll owe based on purchase price. Or, determine your budget based on what you want to pay each month. You can also see the impact of increasing your down payment

How to Calculate Finance Charge. The calculation of finance charges differs depending on the kind of debt involved. For credit card debt, finance charges are based on the average daily balance on the credit card over the financing period, which calculates interest by taking the balance owed at the end of each day into account.. Different lenders calculate the average daily balance method. The interest — or finance charge — is essentially the cost of borrowing money from whatever lender you go with. This will be an additional monthly charge on your loan THE LOAN, AND WILL BE OBLIGATED FOR THE INSTALLMENT PAYMENTS ON BOTH THIS RETAIL INSTALLMENT SALE CONTRACT AND THE LOAN. Proceeds of Loan From: from this Loan is shown in item 6D. Amount $ Finance Charge $ Payable in.$ Name of Gap Contract Buyer Signs X I want to buy a gap contract. OPTIONAL SERVICE CONTRACT(S) You wan Before you schedule that extra payment on your car loan, you need to find out whether your lender applies the payments to your loan principal or to the interest. Applying extra payments directly to the principal (that is, the amount of money you borrowed) is ideal because it reduces both the amount you owe and your total interest

When buying a car, origination fees are quoted as a flat fee or a percentage of the total loan. For auto loans, origination fees are calculated as a percentage of the total loan, usually between 1. Rule of 78 Loan Calculator determines the payment schedule for a Rule of 78 loan by calculating the magic number necessary to split the compounded interesti over the lifetime of the loan. Total Finance Charge $ 200.00 For 12 months, the magic rule number is 78 Payment Schedule. Month Start Interest Principal End; 1 The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan. Use our loan payment calculator to determine the payment and see the impact of these variables on a specified loan amount complete with an amortization schedule Calculate deductions. The loan charge arises on 5 April 2019 in the final pay period of 2019. To calculate the deductions due on your employee's outstanding loan amount, you'll need to add the. Select the appropriate radio button for due date or invoice/billed date to indicate when you want QuickBooks to **calculate** **finance** **charges**. (Optional) Select the Mark **finance** **charge** invoices as **To** be printed checkbox if you want to print all your **finance** **charge** invoices in a single operation. If you send statements, leave this checkbox cleared

Some loans have a prepaid finance charge which constitutes part of the Finance Charge. In this case, the loan interest rate will be lower than the contract A.P.R. When there is a prepaid finance charge, the charge is usually passed to the lender in its entirety Sellers Prepaid Finance Charges for APR on TIL. 06/17/2013. Should the costs the seller is paying show as prepaid finance charges for APR purposes on the TIL? Charge Appraisal Fee on Consumer Auto Loan? 05/06/2013. On a consumer auto loan; can an appraisal fee be charged The contract says your finance charge, total of payments and total sale price will be more if you pay late and less if you pay early. It also says I can prepay at any time without penalty (even though the dealer said I would be hit with a 5% penalty) If you do so, you mustpay the earned and unpaid part of the Finance Charge and all other.

Getting a new loan? Know the numbers. Use a finance calculator to see what kind of loan will work best for you. If you need a car but are not sure about what kind of loan would work best for you, using finance calculators may help you orient yourself to how your needs and finances can be combined to get you on the road A borrower decides to pay off a closed-end loan earlier than originally scheduled. The amount by which the finance charge is reduced is the unearned interest. This software calculates unearned interest using the rule of 78. Rule of 78. Consider an example. You want to purchase a new car. The car costs $10,454 A useful feature to consider for your calculator would be an optional field to specify an Additional monthly payment. I'm comparing two different insurance financing proposals, one is a monthly payment and the other is quarterly, I was trying to find out if we pay an extra 200% or 300% each month how much we'd be saving on the finance charge ELI5: my car loan seems to charge a finance charge every time I make a payment... is that whats really going on and can I change it? Every time something happens on the account, they calculate what the finance charge was since the last time something happened on your account and show it to you. That charge incorporates both what the balance.

All you need to do is head over to our auto-loan calculator, input the interest rate on your loan and the length of the loan term, and your monthly payment will be displayed. For $40,000 loans, monthly payments averagely range between $900 and $1,000, depending on the interest rate and loan term Simple loan calculator and amortization table. Know at a glance your balance and interest payments on any loan with this loan calculator in Excel. Just enter the loan amount, interest rate, loan duration, and start date into the Excel loan calculator, and it will calculate each monthly principal and interest cost through the final payment Installment Loan Definition. Using a free Installment Loan Calculator can help determine the amount of loan you can afford from the bank. The Installment Loan Calculator will let you test out different loan amounts, loan durations and interest rates to see what your monthly payments will be and how much interest you will pay over the course of the loan Capital One Auto Finance Disclosure: Advertised 2.49% APR is offered depending on the individual's excellent and substantial credit, and key financing characteristics, including but not limited to the amount financed, a term less than or equal to 60 months, a loan-to-value (LTV) ratio of less than or equal to 80% and a new vehicle.Your actual APR will be based on your specific situatio Finance managers at car dealerships sometimes refer to it as part of fully protecting an auto loan when they speak with borrowers including those with damaged credit. That description is fairly accurate and before making a decision consumers should have a basic understanding of how credit disability insurance works

Santander Consumer USA Inc., its subsidiaries or affiliates are not responsible for the transaction, the outcome of the transaction or any information provided therein, provided that if Santander Consumer is chosen as the lender to finance the vehicle purchase, the financing will be performed by Santander Consumer The Rule of 78 is a financing method that allocates pre-calculated interest charges that favor the lender over the borrower on short-term loans. This financing practice is highly controversial and in 1992, was outlawed in the United States for loans longer than 61 months Truck Loan Calculator. This calculator figures monthly truck loan payments. To help you see current market conditions and find a local lender current Redmond truck loan rates are published in a table below the calculator. The second tab provides a calculator which helps you see how much vehicle you can afford based upon a fixed monthly budget and desired loan term

In today's financing atmosphere, consumers need to be aware of prepayment penalties on auto loans. There was a time when the length of a loan remained at a comfortable 24 to 36 month period. The loan terms were fairly simple, containing little, if any, added fees, like prepayment penalties Where applicable, loan terms are subject to renewal at the end of the term. This calculation is an estimate based on the accuracy and completeness of the data you have entered and the indicated estimated interest rate, is for illustrative and general information purposes only, and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. You. Use this calculator to calculate the payment of a car loan. Loan Amount: Amount of loan taken. Interest Rate: Interest rate of the loan. Length of Loan: Time period of loan, in years. Need Auto Insurance? Auto insurance is the other big cost of car ownership. Usually the best way to estimate prices is to get a quote, either online or with a. A payment in cash and/or rebate upon the signing of a loan/lease, which typically reduces the amount financed on a loan or lease and/or pays for other amounts due upon the signing of a lease. The down payment is only one part of the total due at lease signing. See the Total Due at Lease Signing section for a complete list of itemized costs PSECU will only finance up to 100% of the retail value of the vehicle for refinance of an existing PSECU vehicle loan. Monthly payment example: 36 monthly payments of $28.86 per $1,000 borrowed at the 2.49% APR or 60 monthly payments of $18.08 per $1,000 borrowed at the 3.24% APR

Welcome to Chase Auto. You should receive your loan statement in the next week. Get started. The account number from your loan statement is the key to setting up your online account access, MyCar, the mobile app and more. use our HELOC calculator and other resources for a HELOC. Auto. Chase Auto is here to help you get the right car Finance charges can be lump sum or based on a percentage of the loan. They can be one-time (like an initiation fee) or ongoing (like interest or membership fees)

The loan contract states an APR of 12.9% and stipulates 28 monthly payments of $166.20 each. You decide to pay the loan in full at the time of the 19th payment. The unearned interest (the amount by which the original finance charge is reduced, that is, the amount of interest you will save) is $77.32 Your daily finance charge would be calculated as follows: ($20,000 x 5.9%)/365 days per year = $3.23/day If your $386 payment is received exactly 30 days from the date of your last payment, your finance charge for that period would be $96.90 ($3.23 x 30 days) Shop cars, explore auto finance options and manage your household cars with Chase Auto

There are 3 major factors to consider when using a loan to finance a car: the loan amount (this is the total amount you're borrowing to get the car), the annual percentage rate (also known as the APR, this is the interest rate you pay on your loan) and the loan term (the amount of time you have to pay back the loan amount)

Car Loan Interest Rate. Your auto loan interest rate will have a big impact on your monthly car payment. The interest rate is how a car loan company makes money - think of it as a rental fee you pay for using their money to buy a car. It's a percentage of the loan amount that accrues over the life of the loan Get pre-approved for an auto loan. Apply online, through your mobile device, 1 over the phone or visit your nearest branch to discuss loan options. Visit the Auto Buying Research Network to research and choose your vehicle. Look up the value of any trade-ins. Research vehicles of interest and find a dealer near you An APR of 18% would, therefore, convert to a period rate of 1.5% (18 divided by 12 = 1.5) per billing period when finance charges are calculated monthly. The periodic interest rate is then multiplied by the balance to determine the dollar amount of the finance charge