Go to Jeff Salisbury LWGate Home Page.From: "R. Forgue" <rforgue@pop.uky.edu>
Subject: Re: APRs on Credit Cards and Auto Loans
Date: Thu, 08 Oct 1998 13:56:22 -0400
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The beauty of APRs is that they provide a point of comparison for various loans. Thus, the loan with the lowest APR is the generally the best deal regardless of amount borrowed, time period, etc. Nonetheless, the 3.9 or 4.9 percent credit card rates are invariably teaser rates that will revert to a much higher rate after 6 months or so. An auto loan at 7.75 percent beats virtually any credit card. Dr. Ray Forgue, Director of Graduate Studies Family Studies Dept., University of Kentucky 315 Funkhouser Building, 606-257-7756, 606-257-3212(fax) rforgue@pop.uky.edu - -
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