It is great that you are turning your dream of owning the bike you have been eyeing into reality. While you apply for the loan to finance the purchase, you might want to give attention to the terms and conditions of the loan that might mention either of the two - fixed interest rate or variable interest rates on the bike loan. The type of interest rate you choose can significantly impact your monthly payments and overall loan cost. This article will explore the pros and cons of fixed and variable interest rates and help you decide the best fit for your bike loan.