What Does APR Mean?

What Does APR Mean?

www.carloan4u.co.uk. The new entry level SEAT Mii will be on British roads come June. Designed for urban living, the vehicle will be available in three door and five door versions**. Leading car finance experts Car Loan 4U offers affordable SEAT car finance. Crafted with smaller spaces in mind, the car is just 3.5 metres in length; ideal for tight parking spaces in towns and cities. The sporty little car packs a powerful punch with an impressive 1.0 litre three-cylinder petrol engine, reaching top speeds of 99 mph. It has a smaller grille on the front in the typical SEAT style and large headlights. To entice motorists, SEAT also has provided the option to personalise the vehicle. This includes stickers, colour options and unique decals. Another useful feature of the car is the City Safety Assist function that automatically breaks the vehicle to prevent collisions at speeds less than 18 mph. Cruise control, rear parking sensor and electric heated door mirrors are just a few of the other functions that make this car one worth considering. Car Loan 4U Co-Director Ryan Dignan comments; "No one likes the tight squeeze of edging into city parking spaces, and the SEAT Mii helps to eliminate that stress. "This small sporty vehicle is ideal for summer city driving and can still fit four adults in without sacrificing too much boot space. " If you're looking for a new vehicle this summer, Car Loan 4U could help. The UK's leading car finance operators, Car Loan for you has rates ...

http://falamosportugues.com// Car finance experts Car Loan 4U comments on the new SEAT Mii

With markets pining for accommodation, this is likely to disappoint investors and drive risk aversion, boosting USD against its top counterparts (albeit less so than if the Fed did nothing). The sentiment-sensitive Australian, New Zealand and Canadian ... US Dollar Expected To Broadly Rise As Federal Reserve Withholds QE3

If you've ever bought a house or a car, or you've made any type of purchase with a store or credit card, then chances are, you've come across the term APR.

APR is simply an acronym for 'Annual Percentage Rate'. When you're shopping for finance, whether it's for a car loan, mortgage or credit card, the APR is there to guide you during your search for the best loan on the market.

Legally, all banks and lenders must provide consumers with information about the costs and terms of a loan, under the Truth in Lending Act. The intention of the Act is to help consumers fairly compare the different loans offered by various financiers, so they can make a decision without being misled or deceived.

Although it sounds simple, the APR is actually based on quite a complex mathematical formula. Essentially, it is a measure of the cost of credit, expressed as a yearly rate.

The APR reflects the amount of money being financed, the interest rate, the timing of the payments, and any other fees and charges - such as administration costs and broker charges - that are associated with the loan.

It would be nearly impossible for consumers to compare all of these costs with multiple lenders on their own, hence the APR.

Because the APR takes into consideration all of the various fees and charges associated with your loan, it is almost always higher than the actual interest rate attached to the loan.

For example, if you have a fixed rate mortgage, the following could apply:

Initial interest rate: 8%
 
Loan term: 30 years

Loan amount: £90,000

Total prepaid charges: £2,673

APR: 8.3205%

(Example source: charterfinancial.net)

When advertising any form of credit, the law requires that lenders ensure that the APR is shown more prominently than any other rate advertised on the page.

If you have a fixed rate loan, the APR cannot change during that fixed period.

If you're loan is attached to a variable rate, however, you have no guarantees that the APR will remain the same during the life of the loan. This means that if your bank raises its interest rates, the APR on your home loan or credit card will also go up - but if the bank cuts its interest rates, your APR will likely go down.

If you're looking for any type of loan, comparing credit card APRs, for example, of the different products available is often the best place to start, but it's important to read the small print and consider all aspects of the loan, rather than simply taking the deal with the lowest APR. Every loan has its own set of conditions, penalties and restrictions, so the cheapest rate may not always be the most suitable product for you and your situation.

Related What Does APR Mean? Articles