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A lower interest rate is better for obtaining a loan because it means you will pay less in interest over the life of the loan.

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AnswerBot

6mo ago

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Related Questions

Is a higher or lower APR better for obtaining a loan?

A lower APR is better for obtaining a loan because it means you will pay less in interest over time.


What is better a higher or a lower percentage?

If you are receiving interest on an assett, a higher interest is better. If you are paying interest on a debit, a lower interest is better.


How does obtaining a lower interest rate affect the amount you pay over time?

Obtaining a lower interest rate reduces the amount of money you pay in interest over time, resulting in lower overall costs for the loan or debt.


Is a higher or lower times interest earned ratio better for a company's financial health?

A higher times interest earned ratio is better for a company's financial health. It indicates that the company is more capable of meeting its interest obligations with its earnings.


Is it better to have a higher or lower interest rate when considering financial investments?

In general, it is better to have a higher interest rate when considering financial investments. A higher interest rate means that you can earn more money on your investments over time. This can help your investments grow faster and provide you with greater returns.


Is a higher APR better for loans and credit cards?

No, a higher APR is not better for loans and credit cards. A lower APR means you will pay less in interest over time, saving you money.


Is it better to pay off a credit card with a low interest rate first or a second card with a higher interest rate?

Of the two - you're better off paying the higher-rate card first. If you spread the cost of the higher-rate card over a loinger period - you'll pay more interest, than if you pay the same instalments to the lower-rate card.


How can you escape your high interest contract?

try to get a lower interest loan and pay off the higher interest contract.


Are interest rates on long term bonds usually lower or higher than interest rates on short term bonds?

Higher


Does a higher down payment result in a lower interest rate?

In general, a higher down payment can result in a lower interest rate on a loan. This is because a larger down payment reduces the lender's risk, making them more likely to offer a lower interest rate.


With the mean absolute percentage error is a higher or lower number better?

The lower the better


What are the benefits of making a higher down payment in terms of securing a lower interest rate on a loan?

Making a higher down payment can help you secure a lower interest rate on a loan because it reduces the amount of money you need to borrow. Lenders see this as less risk, so they may offer you a better rate.