Someone Please rewrite/humanize this:

Factors Affecting Auto Loan Payments: Purchase Price: The cost of the vehicle plays a crucial role in determining your auto loan amount, directly impacting your monthly payments. A higher purchase price results in a larger loan amount, which, in turn, leads to higher monthly payments. Annual Percentage Rate (APR): The interest rate offered by your chosen financial institution is a key factor affecting your monthly payment. Higher APRs result in increased monthly payments, making it important to secure a favorable interest rate. Loan Term: The duration of your loan term has a direct impact on your monthly payment strategy. Generally, longer loan terms provide smaller monthly payments, but they also mean paying more in total interest over the life of the loan. Conversely, shorter loan terms require larger monthly payments but lead to lower overall interest costs. Calculating the Outstanding Balance: To determine the remaining loan balance after two years of payments, you can follow these steps: Determine the Loan Amount: Start by subtracting any down payment or trade-in value from the vehicle's purchase price. Calculate the Monthly Interest Rate: Divide the annual interest rate (APR) by 12 to find the monthly interest rate. Identify the Loan Term: For instance, if you have a 5-year loan term, that translates to 60 months. Compute the Monthly Payment: Utilize a loan amortization formula or use an online loan calculator to calculate your monthly payment. Count the Payments Made: Determine the number of payments made in two years by multiplying the number of years (2) by 12 months per year. Calculate the Outstanding Balance: Subtract the total of payments made from the original loan amount. Lastly, always keep in mind any additional fees, taxes, or insurance expenses related to your vehicle purchase. For precise information regarding auto loan rates and payments tailored to your circumstances, it's advisable to consult with a financial institution or use their online tools and calculators.