How Much Is My Car Loan Interest Each Month? #shorts

How to quickly calculate car loan interest.
(I may be compensated by LightStream through this link.)

Car loan interest is fairly complex and you'll need a loan calculator if you want to break everything down, but if you want to quickly know how much interest you're paying each month on your car loan, it's easy math. Simply input exactly how much you owe on the vehicle, then multiply it by your interest rate. Now divide that number by 12 (months) and you'll have your answer. Just remember to adjust how much you owe on the car each month for the math to be accurate, because you'll slowly pay less interest as you owe less on the loan.

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[rockinpoppy]

Thank you for simplifying this you made it much easier

[jarvisgrzanich]

Thank you so much 🙏🏽🙌🏽 truly I don’t know why this isn’t taught in schools

[kaosiscute]

So the interest payment would decrease every month?

[legend]

This guys is Nicado Avacado in an other alternate universe where he’s successful, smart and fit 😂

[AnthonyLobo]

I pay 166 every month on interest at 19 with a 2016 dodge challenger

[daniellenard]

So basically, the interest amount is deducted from car payment and the remainder is going to principle. ? Can you please do a video on if I make an extra half payment each year how much interest would I save and do I plug the extra payments to the principal or to the interest?

[eruuego]

Geez didn’t realize how much interest was.

[Daissweetest]

How to figure how much interest at the end of 60 months? Thank you

[thehangrymonster]

would It make a difference if I pay the interest for the full year?? or will I continue to be charged interest.. ty

[Lonnz]

Every month the monthly payment changes?

[marcogomez]

So I pay $465/month. The caluculated monthly interest is comes to about $115/month. Should I be paying $580? If so, how does this work in my favor? I feel like I understand it, but I need someone to break it down for me.😅😅😅

[outlawedmedia]

I bought a $90K Bronco Raptor with %13 interest. Am I smart?