A car loan is repaid over a short period of time. This should mean that the repayments you make on the loan keep pace with the decrease in your car’s value.
Fixed or Variable Loan?
You choose whether you want a fixed rate or variable rate loan. The fixed rate gives budgeting security whereas the variable rate allows lump sum repayments.
When do you have to repay the loan?
You can have a repayment period of up to 7 years.