FINANCE
Quick loans hide their cost in one number
It is not the interest rate.
Focus on the Annual Percentage Rate
APR includes interest and all lender fees, showing the true annual cost. But one component is often overlooked.
The hidden cost: Origination fees
Often deducted upfront, these can add 1% to 8% to your total borrowing cost before your first payment.
Compare the top lender fees
The full article breaks down APR ranges and typical fees for major online lenders.
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