What is APR representative?

I want to take a car on finance, but I'm a bit confused by all the finance terms. What's the difference between APR representative and fixed APR?

Garry Barnes

Answer from the Stoneacre finance team:

Hi Garry, they can indeed be confusing, so we're here to help. APR representative is Annual Percentage Rate which is the rate you will pay over 12 months when making car payments. The representative part is taken from 51% of people that receive the lowest possible APR rate. Credit scores vary and so will your APR - the worse it is, the higher the APR. Meanwhile, fixed APR is the one that's customised to your circumstances, which means you will only get it after applying for auto finance.