Calculating apr of car HP offer

[Chasingcars]

Hi, we have been looking at new cars today, with a purchase price of £15,000, £1000 deposit leaving £14,000 to pay. Monthly replayments for 60 months of £300 a month, total repayments = £18,000. Please can you tell me how to calculate the apr?
thanks

[factor-fiction]

Just google 'APR calculator'.
Here's one:
http://www.prudentmin...m/apr-calculator.html

[Loosehead]

comes out at 10.9 APR, but the true cost is a lot higher, as after 5 years the car will be worth very little.

[Frankieola]

Dont be too concerned about the APR, There are about 18 different ways to calculate APR and each company uses the method that makes them look the cheapest! The underlying flat rate of interest is 5.71 which is quite a keen rate for that amount of money over 5 years. However, I may be able to beat it if you wish to contact me?!