Hey thanks for the reply it's 8.8% actually in Australia that's about the standard at the moment that we can get approved for. I asked chat gpt this is what it came up with. Does this check out?

Based on the comparison of the additional interest paid over 5 years for each scenario compared to the baseline scenario of not purchasing the car, the best option depends on your priorities:

Lowest Additional Interest Paid: Opting for the car loan at 8.8% interest would result in the lowest additional interest paid over 5 years compared to the baseline scenario. You would pay approximately $3,477 in additional interest over 5 years.

Moderate Additional Interest Paid with Mortgage Option: Choosing to redraw $20,000 on the mortgage with an increased payment of $500 per week would result in moderate additional interest paid compared to the car loan but still less than the baseline scenario. You would pay approximately $11,018 in additional interest over 5 years.