Fixed-Rate vs. Variable-Rate Car Loans: What You Need to Know
Choosing between a fixed rate or a variable rate loan when financing a car is one of the most important decisions you will make. There are pros and cons to each option, and understanding how they work can help you find affordable car loan options that fit your budget and financial goals. In this guide, we’ll take a look at the differences between these two interest rate structures and how they could affect your car loan repayment.
What Is a Fixed-Rate Car Loan?A fixed rate car loan has an interest rate that stays the same throughout the life of the loan. What this means is that...