Think a bigger discount means a better deal? Not always.
In this lesson, Ben explains why comparing interest rate discounts between lenders can be seriously misleading. Just because someone says they’re getting 2% or even 3% off their loan doesn’t mean they’ve actually secured the best rate overall.
That’s because discounts are applied to each lender’s standard variable rate—and those standard rates can vary wildly between banks. So even with a “smaller” discount, you could end up with a lower actual interest rate than someone else bragging about a massive discount at the weekend BBQ.
What matters most? The final rate you actually pay. And this lesson shows you exactly how to spot the difference.
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