Annual interest rate (p.a.)
The yearly interest rate charged on your loan, shown as p.a. It is the main driver of how much extra you pay on top of the car price.
The annual interest rate, written as p.a. for per annum, is the yearly rate a lender charges on the money you borrow. It is the main figure that decides how much interest you pay over the life of the loan.
A higher rate means more interest and a higher total cost of credit. Your rate depends on the lender, your credit history, the car, and your deposit.
The advertised rate is not the whole story though. Fees can add to the real cost, which is why a comparison rate is useful too.
Our guide rate of 9.95% p.a. is indicative only and not a quote or offer of credit. Your actual rate can be higher or lower. Get your fair rate to see what a lender would offer for your situation.
See your repayments, then get a fair rate.
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