12/19/2023 0 Comments Vehicle finance calculator absa![]() However, this certainty comes at a cost because the interest rate is typically higher than the variable interest rate which will increase or decrease in line with the prime lending rate. Generally, the fixed rate option will give one the comfort of an instalment amount that doesn’t change. The choice between a fixed and a variable rate depends on whether a customer is willing to allow market forces to affect their monthly instalments. In other words, whether it is fixed or linked to the prime lending rate.
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