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What is APR? How Does It Impact Financing?

If you're looking into financing your next car, you've likely encountered APR during your shopping endeavors. APR is an acronym for annual percentage rate, which describes the amount of a loan that you, the borrower, will be charged per year for loan financing. That means that as you pay back the loan, you pay some interest on it as well, which is determined by the APR.

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