What Is Daily Interest on a Car Loan? | Pay Less Over Time
Daily interest is the per-day cost of borrowing, calculated from your current principal balance and a daily rate derived from your APR. You’ll see “daily interest” (sometimes “per diem”) on payoff quotes, account dashboards, and dealer paperwork. It can look tiny—two bucks here, four bucks there. It still adds up every day you carry a […]
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