Car loan interest Rate in 2010, what is the current rate??
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 Feb 25 2010, 02:19 PM
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#1
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Junior Member
470 posts Joined: Aug 2006 
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Hey guys, care to explain these interest rates below? I'm using national car as an example.
Why is a new car's interest rate 3.5% for 5 years (Min Fixed Rate (p.a. flat)) while a used car's interest rate is 5.75% (Min Net Effective Rate (NER))? What's the difference between Min Fixed Rate and Min Net Effective Rate?   |
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Mar 3 2010, 01:41 PM
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#2
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Junior Member
470 posts Joined: Aug 2006
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Help?
QUOTE(Aurora Boreali @ Feb 25 2010, 02:19 PM) Hey guys, care to explain these interest rates below? I'm using national car as an example. Why is a new car's interest rate 3.5% for 5 years (Min Fixed Rate (p.a. flat)) while a used car's interest rate is 5.75% (Min Net Effective Rate (NER))? What's the difference between Min Fixed Rate and Min Net Effective Rate?  |
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