Fixed Rate Car Loan
Fixed rate car loans are a popular option with borrowers who prefer to know exactly what their repayments will be across the full term of the car loan and wish to avoid any exposure to potential interest rate changes, that may occur across their loan term. Unlike a variable rate car loan, which may be changed at any time by the lender, to keep in line with changing economic conditions, a fixed rate car loan enables you to agree a rate with your lender at the start of the loan and agree that this will be fixed and so remain the same for the term of the loan.
An important consideration with fixed rate car loan is that if interest rates do fall during the term of your loan, any effect of these rate reductions will not be reflected in your loans interest rate, which will remain at the rate that it was fixed at the commencement of the loan. On the flip side if rates rise, these shifts in rates would equally not impact your car loan rate.
To calculate your fixed rate repayments on the selected fixed rate loans compared in the table below simply enter the amount you wish to borrow and your preferred loan terms into our car loan repayment calculator below, your monthly repayment will then be shown in the “monthly repayment “ column, these values can be ranked by clicking the column header