A »The APR of a car loan significantly impacts the total cost of ownership because it determines the interest you pay over the loan's life. A higher APR means you'll pay more in interest, increasing the overall cost of the car. Conversely, a lower APR reduces your interest payments, making the car more affordable. Always compare APRs when shopping for loans to ensure you're getting the best deal.

A »A car loan's APR significantly impacts the total cost of ownership. A higher APR increases the total interest paid over the loan term, resulting in a higher overall cost. Conversely, a lower APR reduces the total interest paid, making the loan more affordable. Consider the APR when evaluating loan options to minimize your total cost.