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Refinance > Amount Financed
The following information is about Amount Financed.
Amount Financed Defined
The part of a vehicle's cost that a lender supplies. To determine the amount financed, multiply the purchase price by the interest rate; subtract that amount from the purchase price; add state purchase tax to that remainder; then subtract the down payment. Put differently, AF = purchase price - (purchase price X interest rate) + tax - down payment.
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