Topic

loans

6 pieces tagged loans.

APR vs interest rate

The interest rate is the cost of borrowing; APR includes fees and shows the true annual cost.

A soft pull checks your credit without affecting your score; a hard pull creates an inquiry that can lower it.

LTV is the ratio of your loan balance to your car's current market value, expressed as a percentage.

The exact amount required to own your financed car outright, including interest accrued through a specific payoff date.

A fee some lenders charge if you pay off your auto loan early or refinance before a set date.

Two methods for calculating loan interest that determine whether paying off your loan early actually saves you money.