APR explained

What is APR? What is a representative APR? Why is APR important? How do interest rates fit in? In this video, we’ll answer all these questions and more.
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[@jasonsmit1628]

Very informative and easy to understand!
Thank you for clarifying 😊

[@FinderUK]

Glad you found it helpful! 😊

[@user-fm9zo5le2v]

Are you sure interest rate is included in APR? On Autotrader they show interest rate pa and APR separately, and if you calculate with just the APR you get about half the sum of the total loan charge displayed there.

[@FinderUK]

Yes, the APR includes the interest rate plus any fees and charges. It's usually a larger percentage than the interest rate, because it includes those extra costs. It might be worth contacting someone at Auto Trader if you think the rates don't add up to you. They should be able to explain everything in more detail. Hope that helps 😊

[@colterstevens6534]

1st 😅

[@FinderUK]

👏👏👏