Can anyone tell me how the cut in interest rates by the feds affect my car loan payments?
Public Comments
- It won't make any difference at all.
- if your loan interest rate is based on "Prime" it will lower. If it's a fixed rate then it will not. The interest rate on most Credit Card and Home Equity loans will lower.
- Car loans are usually 'fixed' repayments, for a set period, and remain unaffected by any changes to the base rate.
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