What Is Simple Interest? Check Out This Helpful Video!

The financing process is full of numbers to crunch, and specific details to keep in mind. From APR, to your down payment, to your loan information it can all seem daunting. Don’t worry though – our dedicated, and highly qualified financing team is here for you every step of the way.

One of the financing factors you may not have thought about yet is simple interest. Simple interest is a calculation of certain factors, which can affect your monthly finance charges. This fun video helps explain the formula through which this calculation is derived, and how you can use this formula to help save you money!

If you would like to learn more about the financing process, simple interest, or anything else you are more than welcome to visit us at Mike Molstead Motors. We are located conveniently in Charles City, IA, and would be more than happy to assist you with your automotive needs!

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