Car makers ( Toyota , ?Ford, Honda, Hyundai, etc. ) ?often provide low - interest financing to attract people to buy: 3 % , 2 % , 1 % , ?and even 0 % . ?A 1 % ?loan for 4 ?years ends up costing about 2 % ?of the original loan. How much total interest is paid for a $ 2 0 , 0 0 0 ?loan?