Annual Percentage Rate (APR), Glossary and Terms, Automotive, Motorcycle, Boat Dealers

U.S Auto, Moto, Boat Dealers List of United States Automotive, Motorcycle, Boat, Dealers, Service Stations

"Annual Percentage Rate (APR)"

The average compound interest rate over the life of the loan. A yearly rate of interest that includes fees and costs paid to acquire a loan. Lenders are required by law to disclose the annual percentage rate, which is used to compare various loans; it makes simple interest and compound interest loans comparable with each other.

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