Welcome to Jeanne D’Arc Credit Union's
Auto Buying Guide
We hope this guide serves you well on your journey to purchase a vehicle or refinance a car loan. Together, let’s bring your financial goals to life.
No matter what stage you’re in, we have resources to help you along the way.
GUIDE: APR VS. Interest Rate
APR vs. Interest Rate: What’s the Difference?
When shopping for a car loan, many shoppers will come across two terms, interest rate and annual percentage rate (APR). It’s easy to confuse the two and use them interchangeably because your interest rate and your APR serve a similar function. However, there are a few differences that you need to know.
The interest rate of an auto loan determines the yearly interest expense of borrowing money, excluding any extra fees.
Annual Percentage Rate
The APR of an auto loan reflects the total cost over the life of the loan. This includes additional fees that accompany the loan.
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Jeanne D’Arc Credit Union is the very best!!! This is the reason I have been with them for over 50 years!!!