What Does APR Mean?!?!?!?!?

Question

is a $5,000 motor bike a better deal when its 1.99% fixed APR or 3.99% fixed APR? also hat the heck is APR?

Update:

sorry not "hat". i meant, what.

Answer 1

Favorite Answer

APR = Annual Percentage Rate. So, the interest you have to pay each year on the outstanding balance of the loan. 2% and 4% both sound very low - is there an upfront payment as well?

By adding the interest rate to how much you're borrowing, you can calculate how much you'll pay all up (interest cost + loan) - 2% is less, but if the loan period is longer than the 4% loan, you might end up paying more.

e.g $5000 at 4% over 2 years will cost $5211 in total. If you borrow $5000 at 2% over 5 years, you'll end up paying $5258 - $40 more (which isn't that much).

Check out aprcalculator.org to calculate how much your loan will cost you all up

Source(s): http://www.aprcalculator.org/

Answer 2

Annual Percentage Rate.

Answer 3

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RE:

What Does APR Mean?!?!?!?!?

is a $5,000 motor bike a better deal when its 1.99% fixed APR or 3.99% fixed APR? also hat the heck is APR?

Source(s): apr mean: https://shortly.im/igmCb

Answer 4

1.99 Apr

Source(s): https://shorte.im/bahcz

Answer 5

Annual Percentage Rate.

(The interest you pay on a loan.)

Answer 6

It stands for "annual percentage rate" and 1.99% is better because you would be paying less interest.

Answer 7

YOU WILL BE CHARGED 4 - 8 PERCENT OF WHAT THE CARD COMPANY WANT. YOU GOT NO SAY TO IT. SAY BYE-BYE TO 5.00 TO 15.00. WHEN THEY SAY FIXED RATE YOU REALLY HAVE NO SAY TO IT. HOW FAR IS YOUR COMMUTE? AND HOW MANY YEARS DO YOU HAVE TO KEEP PAYING? EXPENSIVE YES. ALWAYS CHECK THE FINE PRINT. PEOPLE KEEP OWING THE BANK MORE AND MORE MONEY IS NOT READING THE PRINT. GET A BIKE, WHY DOES IT HAVE TO BE MOTOR, YOU HAVE TWO LEGS, USE THEM