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What is an APR and how does it affect my Colorado auto loan?

April 26, 2017affect Apr auto loan Colorado

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What is an APR and how does it affect my Colorado auto loan?

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An APR, or annual percentage rate, reflects the total cost of the loan on an annual basis. APR is expressed as a percentage of the loan’s principal. Unlike interest rate alone, APR takes into account all of the fees, charges, and other expenses that come with the Colorado car loan, thus providing a more accurate picture of the loan’s true total cost. You want to find an auto loan with the lowest possible APR.