Trans Automotive – Car Servicing & Vehicle Repairs | Mechanics Perth
A loan is a sum of money borrowed from a lender, which is typically paid back with interest over a specified period of time.
The interest rate on a loan is the amount of money the borrower will pay in addition to the principal amount borrowed. Interest rates can be fixed or variable, and can vary based on factors such as credit score, income, and loan term.
Loans are typically repaid in installments over a set period of time, which can range from a few months to several years. Late payments can result in additional fees and negatively impact the borrower's credit score.
Trans Automotive – Car Servicing & Vehicle Repairs | Mechanics Perth