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Why Has My APR Changed?

What are the most common reasons your finance rates might adjust, and how can you check them?

It can be confusing when you or a customer are looking at a finance quote and notice that the APR (Annual Percentage Rate) is different from what you expected, or has changed from a previous quote.

The APR displayed is calculated in real time and depends on the finance product, the lender’s current rates, and the specific details of the quote. If any of these change, the APR shown to the customer can also change.

There may also be occasions where a lender has specifically requested a rate change. In these cases, the APR may change across some or all finance quotes without any changes being made to the individual vehicle or customer quote.

This guide explains the most common reasons why your APR might change, including how to identify whether the change is caused by the quote details or a wider lender rate update.

Step 1: Check what has changed in the quote details

APR can change when the details of a quote change. Lenders may use rate scales or tiers, meaning different borrowing scenarios can result in different APRs.

Check whether there have been any recent adjustments to:

  • The Finance Product or Lender: Different products, such as Hire Purchase or Personal Contract Purchase, and different lenders can have different rate structures.
  • The Vehicle Selling Price: Changing the vehicle price changes the overall value of the agreement and may move the quote into a different rate bracket.
  • The Customer Deposit: Increasing or decreasing the deposit changes the amount the customer needs to borrow.
  • The Finance Term: Different agreement lengths, such as 36 or 48 months, may have different rates depending on the lender's criteria.
  • The Amount Being Financed: This is the amount borrowed after the deposit has been deducted. Some lenders use tiered pricing, meaning the rate can vary depending on the amount financed.

💡 Quick Tip: If a customer has changed their deposit or finance term on your website calculator, this is one of the most common reasons they may see a different APR from an earlier quote.

Step 2: Check whether the lender has changed its rates

Sometimes the APR changes even though the vehicle and quote details have not changed.

Lenders can request changes to the rates used for their finance products. When this happens, we update the relevant rate configuration so that new quotes use the lender's latest rates.

This means you may notice a different APR across multiple vehicles or quotes, even though:

  • The vehicle prices have not changed.
  • The customer deposit has not changed.
  • The finance term is the same.
  • The finance product has not changed.

If the same APR change appears across multiple vehicles using the same lender and finance product, this could indicate that a lender-requested rate change has been applied.

Rate changes may be requested by the lender as part of their normal pricing or product management process. These changes can therefore affect new quotes without there being an issue with your vehicle stock or website configuration.

💡 Quick Tip: If several different vehicles suddenly show a different APR under the same lender and finance product, compare them using identical deposit and term settings. If the new rate appears consistently, it is worth checking whether a lender rate change has recently been applied.

Step 3: Compare with another quote

A quick comparison can help determine whether the change is specific to one quote or part of a wider rate update.

  • Test a similar quote: Generate a finance quote on another eligible vehicle of a similar value using exactly the same deposit, term, lender and finance product.
  • Check for a wider rate change: If the new APR appears across multiple vehicles using the same lender and product, this may indicate that the underlying lender rate has changed.
  • Check for a single-vehicle difference: If only one vehicle is showing a different APR, compare its price, deposit, term and amount financed against a vehicle where the expected APR is still showing.

Step 4: Check when the quote was generated

If you are comparing a current quote with an older quote, remember that the lender's rates may have changed between the two quotes.

An older quote may therefore have been calculated using a previous rate, while a new quote is calculated using the lender's current rate.

For this reason, it is useful to provide the date and time of both quotes when reporting an unexpected APR change to our support team.

Still unexpected? Let's get it sorted!

If you have checked the quote details and the APR still looks incorrect or unexpected, our Product Support team can investigate the configuration and determine whether the difference is caused by the quote criteria or a lender rate change.

Please email us at Support@iVendi.com with the following details:

  • Dealership Name
  • An Example Vehicle Registration (VRM)
  • Vehicle Selling Price
  • The Deposit and Finance Term being used
  • The Finance Product and Lender
  • The APR you expected to see
  • The APR currently being displayed
  • The date/time of the previous quote, if you are comparing it with an older quote
  • The URL of the affected vehicle page, if applicable
  • A screenshot of the finance quote showing the APR

Our team can then check the relevant finance product, rate configuration and lender settings to establish why the APR has changed and confirm whether a lender-requested rate update has been applied.