Fixed or variable interest rates for a car loan?

Interest rates for a car loan: best option

  • Fixed interest rate

    Votes: 0 0.0%

  • Variable interest rate

    Votes: 0 0.0%
  • Total voters
    0
H

Hank Rogers

Member
What would you say is the best option, when it comes to interest rates?
On one hand, fixed rates are easier to manage. On the other hand, variable interest rates on a car loan allow you to opt for a better early payout.
What's your take on this one?
 
It depends on how quick you plan on paying off the loan on your car.
With a fixed rate, you'll manage your budget much easier, but you have to pay the installments month after moth, until the last payment is scheduled.
With fixed rates, you might be able to pay the loan off quicker! Maybe even without any exit costs, which is a good thing. However, it's more difficult to keep an eye on your expenses, as the interest rate fluctuates.
 
Back
Top