0
What factors should a consumer consider before obtaining a loan?
Wiki User
∙ 15y ago
Find out your personal credit rating. An "at risk" score will most likely translate into a higher interest rate on the loan. If you can possibly save for the purchase, then wait and pay cash for it. If this is a car loan, that usually isn't practical - shop around for the best rate ... the dealerships usually do not have the best rate available, but there are exceptions. Steer clear of 0% loans unless you fully understand and have read ALL the fine print - often times you must pay for the entire loan in like two years or so.
Steer clear of those furniture store loans advertising "no payments until [some future year]" - again read ALL the fine print ... nothing is "free" in this day and age and you might well end up selling your soul to the merchant if you don't follow all the payment restrictions To-The-Letter! Just be one minute late on any payment, and the interest rate is sure to rise to 39% or higher and you might wind up paying $13,000 for a $2,000 couch. Okay, an exaggeration, but it is a point that needs to be well taken.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What factors should I consider before taking out a home construction loan?
You should consider the interest rate and the length of the loan. Making sure you can meet the payments is most important.
What things need to be considered before refinancing your home?
There are several factors to consider before refinancing your home. These include your income, your interest rate, and whether you're willing to put in the effort.
Factors bank consider before granting loans?
Type your answer here... what are the various step to be taken by commercial bank in gannting working capital loan to a business firm ?
What should one know before they refinance a home?
Before a homeowner refinances a home, they should consider how much less a mortgage payment will be after a refinance. They should also consider the differences between a fixed rate mortgage and an ARM mortgage rate. These factors can dictate how long it will take to repay a mortgage.
Outline things that bank managers consider before giving out loans?
things that banks consider before giving out loans
What are the factors to consider before the occasion?
factors people consider before settling near a river
Factors to consider before greeting?
The age
What are some important factors to consider when choosing a domain name?
Before obtaining a domain name consider how the domain name impacts SEO and the use of keywords. Another factor is branding and setting a distinction between the domain and others with similar names or products/services.
Factors to consider before installing operating system?
Before installing an operating system, you need to consider how big you hard drive is. You also need to consider what types of programs you will be using.
What are some factors to consider in food production?
Factors is another word for a sort of merchant.
What are some important factors to consider when choosing a warm-up before your workout?
The important factors are to choose which one you want to do
What factors should doctors consider before treating a severe burn victim?
Possibility of shock.
Two factors to consider before making a purchase include a store's?
warranty policy return policy
What factors should I consider before making an investment?
Consider factors such as the company's financial health, industry trends, management team, competitive position, and overall market conditions. Diversification is also crucial to manage risk.
What factors a doctor might consider before choosing a method of skin repair for a sever burn victim?
IKR
What non-materials factors does a person consider before accepting a job far-off place?
health and education
What are the important factors to consider before starting a fitness program?
When starting a training program it is important to consider four factors. Time, frequency, preferences, and goals should be considered to make sure it will be beneficial and sustainable.
