Educational content only. Rates, fees, eligibility and policy terms can change. Verify current details with the relevant provider or official source.
APR gives more context
The annual percentage rate generally incorporates the interest rate and certain fees, making it useful when comparing similar credit products. Review the lender’s disclosure for the exact calculation.
Term changes the total cost
A longer term can reduce the scheduled monthly payment but may increase total interest paid. Compare the same borrowed amount across different terms.
Check fees
Review origination fees, late fees, prepayment rules and any other charges. Fees can materially change the effective cost of a loan.
Calculate your total payments
When comparing offers, look at the payment schedule and total amount paid over the full term—not only the first month’s payment.