49 CFR Part 1033 – Car Service
Current as of: 2024 | Check for updates
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Other versions
| § 1033.1 | Car hire rates |
| § 1033.2 | Car service orders |
Terms Used In 49 CFR Part 1033 - Car Service
- Contract: A legal written agreement that becomes binding when signed.
- Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).