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    xed, unavoidable charges associated with the loan. Many loans will have a one-off setup fee, and some have an annual fee. These may not have any relation to the amount borr
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    All lenders claim to offer cheap loans. And why not? Only a fool would respond to an advert offering “expensive loans”. But the true measure of value for money in a loan is not necessarily its interest rate but in the whole package. After all, it doesn’t matter to you what you spend your money on – it still leaves your bank account, never to be seen again.

    The first thing to note is the APR (annual percentage rate). It is easily confused with the interest rate as they are both expressed as a percentage, but it is in fact slightly different. Whereas the interest rate is a straight percentage of the amount you have borrowed (or what you owe), the APR takes into account any fixed, unavoidable charges associated with the loan. Many loans will have a one-off setup fee, and some have an annual fee. These may not have any relation to the amount borro

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    not necessarily its interest rate but in the whole package. After all, it doesn’t matter to you what you spend your money on – it still leaves your bank account, never to be seen again.

    The first thing to note is the APR (annual percentage rate). It is easily confused with the interest rate as they are both expressed as a percentage, but it is in fact slightly different. Whereas the interest rate is a straight percentage of the amount you have borrowed (or what you owe), the APR takes into account any fixed, unavoidable charges associated with the loan. Many loans will have a one-off setup fee, and some have an annual fee. These may not have any relation to the amount borr

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    be seen again.

    The first thing to note is the APR (annual percentage rate). It is easily confused with the interest rate as they are both expressed as a percentage, but it is in fact slightly different. Whereas the interest rate is a straight percentage of the amount you have borrowed (or what you owe), the APR takes into account any fixed, unavoidable charges associated with the loan. Many loans will have a one-off setup fee, and some have an annual fee. These may not have any relation to the amount borr

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    ut it is in fact slightly different. Whereas the interest rate is a straight percentage of the amount you have borrowed (or what you owe), the APR takes into account any fixed, unavoidable charges associated with the loan. Many loans will have a one-off setup fee, and some have an annual fee. These may not have any relation to the amount borr
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    xed, unavoidable charges associated with the loan. Many loans will have a one-off setup fee, and some have an annual fee. These may not have any relation to the amount borrowed but must be paid none the less. By law a lender must inform the borrower of the APR before a loan is taken out. It allows people shopping around for a loan to truly compare prices. If the standard interest rate were used, lenders could have very competitive rates but high charges and win customers deceptively. APR should see to that.

    Second, look out for the word “typical” before the APR. This is the cheap loan rate offered to the “typical” borrower, but you might not be that person. If you’ve had a chequered past financially (and that can mean simply missing a few credit card payments), you might be offered not the typical rate but a higher rate that takes into account

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