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Compare scenarios using total cash outlay, not just the monthly instalment. One column could be buying now at NGN 1,938,000,000 with the 4.51% offer and its fees. Another could assume a lower future rate but a higher purchase price. Add a third where the rate never falls. Use the same holding...

I wouldn’t dismiss APR quite so quickly. It gives you a common starting number when lenders present fees differently. The problem is relying on it alone, especially if your likely holding period differs from its assumptions. I’d request a payment schedule from each lender and compare them at the...