Quick answer: APR means annual percentage rate. It is a yearly cost measure that helps compare loans because it can include interest and certain required fees.
Why APR matters
APR is designed to make loan costs easier to compare. Two loans with the same payment can have different total costs if their fees or terms differ.
APR is not the same as payment
A longer term can lower the payment while increasing total interest. Review APR, payment, and total repayment together.
Where to find APR
A lender should disclose APR before you become obligated on a loan. Borrow Your Loan examples are educational and are not lender disclosures.
Methodology
This page is educational and uses illustrative examples. Borrow Your Loan does not publish unverified partner rates, approval odds, or lender requirements. A lender or partner controls any final offer, APR, fee, amount, repayment term, and funding decision.