QWhat To Watch Out For?
A1. Early repayment fees. Pay off your loan early and they sock you with another fee. 2. Late repayment fees. You may have to pay the entire fee again if you miss the payment date. 3. "Membership" fees. Some companies charge you to become their customer along with charging you as their customer. 4. Giving lenders access to directly debit your bank account. Just hand them your wallet, it's quicker. 5. Fine print (as in all contracts). Know what you are signing or don't sign it. 6. Bounced check or debit fees. Make sure you have money in your bank account or you get to pay your bank a fee as well. 7. "Collateral" requirements such as a car title. Miss your payment and you may be missing your car - permanently.