Higher interest rates won’t cost you as much to drive a car as do higher gasoline prices. This is because automobile loans have payment schedules that are only modestly impacted by Federal Reserve Board interest-rate increases. Create a spreadsheet to compare the difference in monthly payments for a K552,451 loan having 60 monthly payments for a select number of interest rates. Use 3% as the base APR and go as high as an APR of 12%.