I'm thinking about taking out a personal loan to fix my car that needs urgent repairs. I've noticed that interest rates are pretty high right now compared to previous years. Does anyone know if it's better to wait or if I should apply for it already?
If the car needs urgent repairs, waiting probably isn't the best option because the damage will get worse and end up costing you more money. Rates are high, it's true, but that's how the whole economy is right now and it doesn't look like they're going to drop drastically anytime soon. I'd say compare credit options (banks, credit unions, online lenders) to find the least bad rate, and if the repair is really necessary, just do it now before the problem gets worse.
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