A car ad says 2.5% apr?

what does 2.5 apr car mean and how or what do i type on the calculator to find out the price?

Answers:

Best place to get an auto loan. Not much credit.?

apr is annual percentage rate

I am buying an 03 Dodge Stratus - has anyone owned one and how did you like it?

2.5% annual percentage rate. This is yearly interest. It has nothing to do with the selling price of the car.

Is 1000 dollars a good downpayment on a car?

You can't calculate the price off the APR only. You also need to know the term (months), and payment. Then you can back in to the amount financed. However, does that amount include tax, tags, and dealer fees? If you got the APR from an ad, the ad must contain certain disclosures according to local law.

How much should I spend on a new or used car?

APR means annual percentage rate. Bear in mind this rate may only be for 24-36 months. You also usually need to have very good credit to get it, and you usually have to put down at least 10%. The dealer also likes to use this as a bargaining chip, and not give you as much off of the car. Don't even bring up financing and trade in until you have settled on the price of the car.
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