Question 1

What's the difference between APR and interest rate?

Accepted Answer

Interest rate is the cost of borrowing. APR includes the rate plus fees, showing the true total cost. Use APR when comparing loans.

Question 2

Which loan is best for me?

Accepted Answer

The lowest total cost is usually best, but consider affordability and flexibility too. Our tool highlights the best value option.

Question 3

How much do fees affect the comparison?

Accepted Answer

Significantly. A lower rate with high fees can cost more overall than a higher rate with no fees. APR captures this difference.

Question 4

How is the savings amount calculated?

Accepted Answer

Savings shown compares interest and fees only, not principal differences. This shows true cost savings between loan options.

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