Car loan broker canberra

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Fixed rate vs Variable rate of interest Understanding Fixed and Variable Interest Rates Fixed interest rates provide stability, ensuring that both the interest rate and loan repayments remain unchanged throughout the loan term. This predictable structure allows for precise budgeting and financial planning. It is worth noting that fixed-rate loans are commonly offered by dealerships.
On the other hand, variable interest rates fluctuate in response to market changes. This means that if overall interest rates rise, your repayments will increase accordingly, while a decrease in rates will lead to reduced repayments. It is important to be aware that variable rate car loans generally do not impose early exit fees.

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