Fixed Rate Loan
Offers the benefit of a locked interest rate and predictable monthly payment for the entire term of the loan. You own the truck outright upon fulfilling all monthly payments.
Variable Rate Loan
Your interest rate is indexed so that you still make regularly scheduled monthly payments. If the indexed rate decreases, so does your monthly payment allowing you to pay down the loan faster. If the indexed rate increases, a balloon payment
may be required at the end of the term.
Designed to maximize cash flow, a balloon loan does not fully amortize over the term of the loan. It traditionally offers lower monthly payments by deferring a small portion of the principal balance to the end of the loan.
Seasonal Payment Loan
Appropriate for businesses that experience seasonal, irregular or short-term peaks in sales/revenue. Monthly payment amounts are structured to parallel to your revenue stream.