For Cheap Rate Loans, Look No Further Than Your Desktop
There are two figures that are used to measure the cost of a loan, and they are often confused. One is the annual percentage rate (APR), and the other is the interest rate. The interest rate is simply a percentage, and varies directly with the amount borrowed. The APR, however, takes into account all costs such as setup fees and annual charges as well as the interest itself. So a 10% APR loan is cheaper than a 10% interest loan that has charges on top. It should be pointed out, however, that APR is the standard figure, enforced by law, by which loans should be advertised. Also, there are avoidable charges, such as late payment fees, which dont have to be part of the APR.
So when youre looking for cheap rate loans, the first thing to find is the APR, a truer reflection of the cost than the interest rate alone. Now the real fun begins. On the internet there are hundreds of loan companies after your business, and a host of comparison sites that will let you directly compare one loan with another and, in most cases, actually lead you straight through to an application form when youve settled on a...
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