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New car interest rates vary depending on the lender, the type of car, and the borrower’s credit score. Typically, rates range from 2-5% for borrowers with good credit, and can be as high as 10-20% for those with bad credit. It is important to shop around and compare rates from multiple lenders to find the best deal.
The effects of interest rates are often not directly felt but play out over a long time as valuations of real-estate and other assets adjust.
At Horizon65, we created a mobile app that enabled you to check the effect of high interest rates on your savings and to simulate potential investments that can defend against it.
Download our app and start gaining insight into your current and future finances.
