slamtank

um..is there a kind of interest that is fixed (i.e.: if i bought a car for 1.9%, then its 1.9% forever) and another kind that is flexible(i.e.: if i bought a car for 1.9% and later on u.s. economy get better so that interest rate increase, then my rate is not 1.9% anymore but it increase)?

i dont kno about u.s. society so i gotta learn a lot..
somebody plz explain about those..


and whats the difference between interest rate and APR?
think ppl explain it above but i couldnt understand..
someone tell me easily plz

and what tricks can dealer use to me by 1.9% APR special program?

slamtank

hm..plz somebody answer my question plz..
im buying a new car next week so i gotta kno about this before i sign up

5PEED EX

Mine is 1.9 locked. $26.73 goes toward the intrest on every car payment. Very nice.

civicdude

iTrader: (2)

It is usually locked at the rating you buy the car at. If you are getting 1.9 financing then it stays at that rating until you pay the car off

Silversleeper

iTrader: (5)

i got 10.something when i first signed. i refinanced down to 5.75%. not too shabby i think, but i wish it was better, anyways, its really my insurance that hurts me the most. *sighs*

poor jaysun

iTrader: (1)

If you can fix it at 1.9%.
DO IT.
The best you are gonna do beyond that is 0%

CGodwin3103

iTrader: (2)

Well.. um.. to answer the question.. you have a fixed rate.. and then you can also have a fluctuated rate... clarify this and have them point out on the agreement where this is.. get a fixed rate..

usually apr is a fixed rate ... but shoot for a low like 1.9 and try to get or make sure it is fixed at 1.9..

APR: Annual Percentage Rate.. Meaning they charge you a specific rate annually.. or annually = every year..

maybe this will help..

aznsmtboy

iTrader: (1)

it's fixed or variable, not flucturated or flexible.

fixed means you get the same rate for the life of the loan, variable means rate can change throughout the life of the loan (not a very good thing)

However, usually they start you off with a lower rate when you choose the variable rate but it almost undoubtdly goes higher.

I myself would rather pay a fixed 5% on a car for 5 years then get 1.9% variable for like 2 months and it jumps to like 10 or 18%. About a 3 yrs ago it would have been a good time to do a variable rate, because interest rates were going down and since rates aren't suspected to signinficantly go much higher until about next year or so. your loan would have been practically paid off. If not, then you could always refinance for like 3 years at 3.99% or something..

Nodnero

iTrader: (8)

Mine was locked at 4.9% Not too bad, $0 money down! Ooo Oooooo!