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Annual Percentage Rate
APR, or the Annual Percentage Rate, is a measure of the true cost of a loan or other finance. As well as measuring the amount of interest charged, the APR figure includes any other additional costs involved - e.g. Arrangement Fees etc.
APR is used to accurately compare loan products from different companies, where although the main Interest Rates may be the same, the real cost (and thus the APR) may vary.
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