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Remove APR Remove Prepayment Penalties Related Topics
Balloon Payment Down Payment Spread Term Deal Buyer Customer Banking Management Dealerships More Related Topics >
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Decoding Car Finance – Understanding Your Options

Shawn Ryder

MARCH 13, 2024

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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Finance Prepayment Penalties Balloon Payment APR 52
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How to be Sure You’re Presenting Auto Loan Terms That Are Right for Your Customers

AutoRaptor

APRIL 5, 2024

When discussing interest rates and APR, simplify the explanation. These fees can include application fees, origination fees, and prepayment penalties, which may offset the savings gained from refinancing. Show them how the interest rate directly affects their monthly payments and the total amount paid over the loan term.

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Term Down Payment Customer Prepayment Penalties 52
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