Update: I picked a fixed rate over a variable rate on my car loan

My credit union offered me a choice between a 5.9% fixed rate or a 4.9% variable rate that could go up. I went with the fixed rate, even though it cost $12 more each month. I did it because I wanted a payment I could count on for the full five years. Has anyone else made a call like this and been glad they did?

2 comments

2 Comments

jamiegreen21h ago

I did the same thing with my mortgage last year. The peace of mind knowing my payment won't jump is worth the extra cost. You made a solid choice for the long run.

williams.sage9h ago

Peace of mind" is just a fancy way of saying you paid extra to not have to think about it again.