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Guide to the Common Dealership Terms When Buying A Car

Car Examer

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.

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The Ultimate Car Buying Guide for 2024: Tips on Choosing the Right Vehicle, Understanding Financing Options, and Navigating Dealership Negotiations

Shawn Ryder

Factor in insurance costs, maintenance, fuel or charging expenses, and depreciation to understand the total cost over time. Understand the terms, including mileage limits and wear-and-tear policies. Consider Total Cost of Ownership: Look beyond the sticker price. Understanding Financing Options 1.

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