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Auto Finance Terminology
Financing can make it possible for you to get the car that you want. There are a few important terms that you should know before you apply for financing. Adverse Action Notice is one of those terms. It explains why you were not approved for financing. Annual percentage rating is the amount of interest that will be added to the balance of the loan every year. You may be asked to apply for the loan with a cosigner, which can increase your chances of being approved. The cosigner is the person who will be responsible for paying if you are…