If the people they are comparing to is giving flat rates, then if they get an APR they need to be able to convert one number to the other to understand which is cheapest. I suspect even most Western consumers who are used to credit would get that wrong a lot of the time.
The flat rate is horribly misleading if you are comparing the flat rate for a fixed period of loans with different repayment periods, which might be the case if relying on advertised rates intended to mislead. It's fine, on the other hand, if the potential borrower goes to lender A and B and requests a quote for a specific loan period.
But I agree with you that a quick lesson on APR and showing APR also would be great.
The flat rate is horribly misleading if you are comparing the flat rate for a fixed period of loans with different repayment periods, which might be the case if relying on advertised rates intended to mislead. It's fine, on the other hand, if the potential borrower goes to lender A and B and requests a quote for a specific loan period.
But I agree with you that a quick lesson on APR and showing APR also would be great.