When you are considering taking out a loan, the first thing you may look at is the loan’s Annual Percentage Rate or APR. When comparing loans of similar size and duration, APR can be a useful tool to determine which loan is right for you. However, APR is not a helpful tool when comparing different types of loans, ie. secured loans vs. unsecured loans, personal loans, home equity loans, etc. AFSA, the American Financial Services Foundation, has created an educational packet that clearly explains what APR is and how it should be used. To access this packet, click here.
If you have additional questions, contact your local Mariner Finance branch today to speak with one of our knowledgeable representatives. They will be more than willing to answer any questions you may have!
This material was prepared for general distribution. Although all blog posts are intended to be accurate, the information and third-party links provided in the Mariner Finance’s blog are intended for general knowledge and educational purposes only without any warranties, implied or express, of any kind. The posts do not constitute investment, financial or other advice. Authors may or may not be licensed financial professionals; for specific advice, seek the input of a licensed and trained financial expert. Mariner Finance’s blog entries may also be viewed at www.pioneercredit.net and www.personalfinancecompany.com.
get personal finance tips,
and seasonal offers.
Sign up for the Mariner Finance newsletter.