97.1k views
1 vote
How do the different auto loan factors impact monthly payments?

User Zeruno
by
2.8k points

2 Answers

2 votes
Three major factors that determine your monthly car loan payment are your loan amount, the interest rate and the loan term. There are steps you can take — like making a down payment, improving your credit or choosing a different loan term — t
User Ivaylo
by
3.6k points
3 votes
the amount of interest in each auto loan will impact your monthly payments, the higher the interest, the more you pay. the lower the interest, the less you pay
User Qwattash
by
3.3k points