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mhenry9885

Can somebody check this agreement please

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I purchased a car and used the dealers in house finance to fund it.

 

The agreement states an APR of 46.9% but at the bottom it says 'Interest is charged at an equivalent rate of 18% pa'

 

I am thinking that they have got it wrong and the 46.9% APR is Actual Percentage Rate rather than Annual Percentage Rate. This would make the Annual percentage rate 18

 

But maybe i'm just being dumb.

 

Any help would be appreciated.

 

Thanks

cca.jpg

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