[rm2904]

I totally agree that IF the loan terms are same, then lowest APR would be the winner.

Unfortunately, most people are not financially savvy and unable to make logical financial choices even if they are well educated with good enough incomes. Most of the financial education content emphasizes comparison based on APR (which is correct) but they miss out the impact of loan term and origination fee especially if someone prepays the loan. That's what the article is trying to explain, if the loan terms are different, then don't just make decisions based on APR thinking you'll prepay and save more money with the lower APR loan. Perhaps, the article could've done a better job at explaining the concept.

[newscracker]

Thanks for that explanation! I didn't think about prepayment when I wrote my comment.