APR
APR is the yearly rate you pay to borrow money for a car, showing how much extra cost comes on top of the price.
APR stands for Annual Percentage Rate, the yearly cost of borrowing expressed as a percentage that includes interest and certain fees.
Hear It Discussed
"At the same time, the average APR for these underwater borrowers was 7.9% in Q1 compared with 6.9% for the market at large."
Wells Fargo & Edmunds Just Put the Entire Auto Industry On ALERT | Episode 1055 CarEdge Live
"...pay a few thousand dollars more on a car with, say, a 10% APR. And you know that interest adds up over 72 at sometimes 84 months these days."
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"...Kelly Bluebook says the average new car APR hit 9.41% in September, and then climbed another 19 basis points in October."
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