Failings
Despite repeated attempts by regulators to establish usable and consistent standards, APR does not represent the total cost of borrowing nor does it really create a comparable standard. Nevertheless, it is considered a reasonable starting point for an ad hoc comparison of lenders.
Read more about this topic: Annual Percentage Rate
Famous quotes containing the word failings:
“Our failings sometimes bind us to one another as closely as could virtue itself.”
—Luc, Marquis de Vauvenargues (1715–1747)
“Rock ‘n’ roll is a combination of good ideas dried up by fads, terrible junk, hideous failings in taste and judgment, gullibility and manipulation, moments of unbelievable clarity and invention, pleasure, fun, vulgarity, excess, novelty and utter enervation.”
—Greil Marcus (b. 1945)
“There are some people upon whom their very faults and failings sit gracefully; and there are others whose very excellencies and accomplishments do not become them.”
—François, Duc De La Rochefoucauld (1613–1680)