In doing so, you ought to be able to simplify your affairs and often reduce the overall cost of credit. Different lenders have different preferences when deciding which borrowers to take on. As a borrower when you're considering one deal with another, make sure you're comparing like with like. This can be a helpful starting point in determining the real interest rate you'll face over the term of the loan but treat the figure with care. For example, does the APR include things like credit insurance on one loan but not on another.
Interest rates vary.
And, it's worth bearing in mind that some lenders are only interested in lending to people whom they regard as a 'safe risk'. These people may secure lower interest rates. This 'cherry picking' by lenders means that groups considered a less good risk are either offered money at a higher interest rate or not offered a loan at all. Broadly speaking, if you do your homework and get several alternative quotations you should be able to cut the cost of credit. And you may be able to negotiate the interest rate you pay.