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what is a fixed interest rate on an car loan?

is the interest applied to the total loan or the monthly payment? whats good and why?

Public Comments

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2. A fixed rate means the interest you pay does not go up or down...it stays the same for the life of the loan. It is included in your monthly payment.
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4. it is applied to the total loan, or the "total amount financied". a fixed rate means the rate stays the same amount throughout the entire life of the loan and will never change. a variable rate can change to a different amount at will, dependent on the loaner. I've had good luck here... http://auto.deal4-you.com Take care.