Getting Loans - Things To Avoid
Are you thinking of getting loans? Here are a few tips on how not to get a loan, and underneath
each one, the smart thing to do instead.
1.
Ignore borrowing costs.
Examples of these are insurance schemes and prepayment...
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Getting Loans - Things To Avoid
Are you thinking of getting loans? Here are a few tips on how not to get a loan, and underneath
each one, the smart thing to do instead.
1.
Ignore borrowing costs.
Examples of these are insurance schemes and prepayment penalties.
Make sure you
understand and are willing to pay them all.
Understand your agreement before you sign,
including terms and conditions.
A loan may become too expensive, with variable interest rates and fees.
The total cost of your
loan will depend on the annualized percentage rate (APR).
The annualized percentage rate
takes into account the interest amount, and all other charges.
2.
Pick the first lender you think of
Deals vary enormously, from loan sharks to credit unions.
Consider fully mutual building
societies and credit unions, then find companies that are dedicated to loans.
The first were set
up to help members, and the latter s earnings come exclusively from lending money.
They can
offer better deals.
3.
Comm
Less
