Car loan interest Rate in 2010, what is the current rate??
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 May 24 2010, 11:07 AM
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369 posts Joined: Mar 2007 
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QUOTE(det3st @ May 24 2010, 10:35 AM) thats quite high as i also got my loan approved last week with cimb.. 6years old 4.25% rate Interest rates are bound to be increased sooner or later as the economic conditions improve. |
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May 24 2010, 03:26 PM
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369 posts Joined: Mar 2007
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QUOTE(croomaniac @ May 24 2010, 02:19 PM) since the economy goes up (people have money) so the interest will likely will go down (as people can pay installment).. that is what i understand.. This is the way I understood it. You see the changes in interest rates structure depend on reasons that are both internal & external to financial markets. so, if the economy is up, the interest should go down.. likewise, if the economy is down, the interest will hike~ can anyone master in economy clarify this? me, in other hand, has no degree in economy yo~  In general, an increase of interest rates may be an anti-inflationary policy of the central bank. As the interest rates are mainly used to fine tune the business cycle, they will fall in recessions slightly but steadily rise with recovery & finally will be increased at the end of the growth period to brake possible inflationary dynamics. I certainly welcome any other opinions as well  . |
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