Representative APR vs Exact APR for Car finance
Buying car finance is quite nerve-wracking, as a great deal of mental stress can be developed with the purchase of car finance.
Basically, what happens is that you make an assumption about the deal to turn out great when you apply for car finance, however, then you end up finding out that what you've applied for isn't as wonderful as it seems. Although car finance providers mostly promote representative APR, a rate which only approximately half of their customers really receive, as most people go for what suits them personally.
However, as people always look out for their own advantage, when a comparison of car finance deals is carried out, it seems obvious that a person would search for the product with the lowest APR so that it's easy for them to pay back.
If you keep budget under consideration, searching for exact APR could be a better option for you to pick, as it means you are aware of the exact amount you'll have to pay back once the loan is fixed and decided upon, as the amount won't fluctuate so you'll know you wouldn't get to face any unaffordability problems.
Want to sell your car?
Advertise your car on GAD and get the right customer Click on Sell my car and place your ad and learn how much your car worth and reach out to all potential buyers.