Q: What is the difference between an interest rate and an APR?
A: Interest rate is the cost of borrowing money, expressed as a percentage. APR (annual percentage rate) is the true cost of borrowing money, including interest and fees. It is important to compare APRs when you are shopping for an auto loan, as this will give you a more accurate picture of the total cost of the loan.
Q: What is a good credit score for an auto loan?
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