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APR (Annual Percentage Rate) APR is the interest rate on any car financing, shown as an annual percentage. APR includes both the interest rate and any fees, giving you the true cost of borrowing. It’s worth comparing APRs from different lenders, as your credit score and loan term will affect the rate offered.
Understanding Interest Rates and Fees The Role of APR in Car Finance Interest rates play a crucial role in determining the overall cost of your car loan. The Annual Percentage Rate (APR) represents the total cost of borrowing, including the interest rate and any additional fees charged by the lender.
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