Your car overheated and it looked like a simple repair. Probably just a hose that broke and needs replacing. But then you find out that your radiator is shot and must be replaced to safely drive your car. Radiators are expensive and the labor and parts to change one out are just that much more.
An emergency fund can help you cover unexpected expenses such as car repairs, medical bills, household expenses, and more. Having extra money in your savings account can help you avoid borrowing or taking out loans that have high interest rates or fees.
APR stands for annual percentage rate and it denotes your annual interest rate instead of a monthly charge. Your APR includes your interest rate and perhaps some additional charges such as document processing, guarantee, loan processing and application charges.