Car sellers know that buyers love a good deal, and they use a variety of offers to help incentivize sales. If you’ve evershopped for a car, there’s a good chance you may have come across a rebate offer at some point. So, what is a rebate on a car, and how could it help you...
As car loan interest rates soared over the past few years, no-interest car loans have become a better deal. The average auto loan annual percentage rate (APR) for borrowers with excellent credit scores is 4.77 percent for new car loans, according to Experian’s State of the Automotive Financ...
This is the rate offered to the majority of customers. So if you see an advert with a representative APR of 18.9%, then usually at least 51% of applicants are expected to get that rate. To make comparisons easier, most Representative APR is calculated based on these assumptions: A credit...
A good personal loan interest rate is one that's at or below the national average, but getting a good APR on a personal loan depends on your credit score and debt-to-income ratio, among other factors.
What is a purchase APR? A card’s purchase APR is the yearly interest rate that your issuer applies to purchases you make with the card. Along with other factors, this number encompasses the interest that a balance would accrue over a year based on the card’s pay periods. If you need...
Balance transfer APR The clue’s in the name. A balance transfer is when you take debt you’ve built up (perhaps it’s debt on a credit card or a car loan) and transfer it to a new credit card. If your current credit card has a high interest rate, it may make sense to transfer...
Your car loan term is the length of time you have to repay the loan. The average car loan term is close to six years, but a wide range of terms are available.
With a rate-and-term refinance, you don’t receive cash. With a cash-out refinance, the purpose is to make cash available with a new mortgage. You take out more than you owe on your current mortgage, and the balance is dispersed to you to use as you need. Let’s say you own a ...
If the APR is much higher than the interest rate, you know the lender’s fees are high. Annual percentage yield The annual percentage yield (APY) is the interest income on your savings over a year. It’ is also known as earned annual interest (EAR). Simple interest Simple interest is ...
A purchaseannual percentage rate(APR) is the interest rate that your credit card issuer will charge you on purchases when you carry a balance on your card. In addition to purchase APRs, credit cards can have different APRs for cash advances and balance transfers. They may also have introductor...