Toll Free: 1.855.888.LEND (5363)

Fixed Rate Car Loan Or Variable Rate Car Loan?

Fixed Rate Car Loan Or Variable Rate Car Loan?

A ‘fixed rate’ car loan‘s interest rate remains unchanged or ‘fixed’ for the full term of the loan whereas a ‘variable rate’ car loan‘s interest rate can go up or down depending on the prime lending rate.  So if the prime lending rate is 3% and your auto loan is 4% over prime then your car loan interest rate would be 7%.  If the prime lending rate should happen to rise form 3% to 3.5% then your car loan interest rate would be 7.5%.  CA Lending® offers both ‘fixed’ and ‘variable’ rate car loans whether you have good credit bad credit, had a bankruptcy or are 6 months into a consumer proposal.  Apply Today and get Approved!

 

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Tel: 1.855.888.LEND (5363)
Fax: 1.855.888.5364
Email: info@calending.ca

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