Annual Percentage Rate


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Annual Percentage Rate

The actual cost of borrowing money, expressed in the form of a yearly measure to allow consumers to compare the cost of borrowing money among several lenders.

The Federal Truth-in-Lending Act (15 U.S.C.A. § 1601 et seq. [1968]) mandates the complete disclosure of this rate in addition to other credit terms.

Cross-references

Truth in Lending Act.

References in periodicals archive ?
9 percent option -- a current annual percentage rate of 8.
On transactions that post after the first 30 days, the Annual Percentage Rate (APR) at 80% loan to value and first lien position is currently as low as Prime minus 1/4%, currently 6.
How many of you know the difference between annual percentage rate and equivalent annual rate?
Right now the 2015 Volkswagen Beetle, Passat and Eos can be financed with a zero-percent annual percentage rate for 60 months.
Wonga has been criticised for an annual percentage rate of more than 4,000% but it argues that this figure is misleading because credit is extended for a much shorter period of time.
Auto Business News-28 May 2008-TMS to launch Annual Percentage Rate on select models(C)2008 ENPublishing - http://www.
The Community Financial Services Association of America, an industry group, did the math on the rates incurred with other options, and finds that a $100 bounced check garners a $54 fee, which comes out to an annual percentage rate of 1,409, and a $37 late fee on a $100 credit card balance amounts to an annual percentage rate of 965 percent.
Through its partnership with MBNA, ACTE is able to offer its members a credit card with a great annual percentage rate (APR).

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