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Is a car loan a variable expense or a fixed expense?
I'm working on my finances before I get a car loan. I've read that you should budget for fixed and variable expenses. What type of expense is a car loan?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Here’s the difference:
- Fixed expense—you pay the same amount each month (ex: rent, health insurance)
- Variable expense—you pay a different amount each month (ex: water, power, groceries)
Your car insurance is also a fixed expense. But you could save money on that expense by downloading the free
Jerry
app. Jerry will compare competitive quotes from up to 50 different insurance companies so you get the best rate possible on your car insurance. View full answer
- Gregory R.
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