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The Hidden
Fees in
Financing |
Financing can
be a tricky
process. Not for the lender, but for the consumer signing up
for the loan. The cards are automatically
stacked against you. To get the best
deal, you have to make sure you
aren’t being swindled.
You may have heard that
before you sign anything, you should read the small
print first. It’s most important in matters of
money. Sometimes, the fine print contains the most
important facts about your agreement.
Most consumers fail to look out for their own well-being.
They blindly believe that lenders will disclose
whatever they need to know – and
they do – albeit in a shady,
underhanded way sometimes.
If you aren’t
careful, you
may wind up
with late fees, over-limit fees, annual fees, and other charges you
weren’t expecting. They don’t advertise these facts
freely – they send you on a
scavenger hunt to find what you really
need to know.
Some people aren’t even sure
how their loan works! Do you know the difference
between
a fixed
interest rate and
a variable rate? Do you know which one you have? How
shocked would you be to think your
payments will always be the same –
only to open a bill three times
higher one month?
Even
if your
lender makes one
agreement with you – if they sell their company to another
company, you only have 15 days to
be notified before tey can up your
rates and change the very plan you
signed up for!
If you find yourself
faced with
this situation –
or if your own lender wants to change policies midstream, call
them and try to negotiate a better
deal. They you’re your business – and
will usually try their best to accommodate
an existing customer.
© 2004 - All Rights Reserved. Apex Personal Loans
Store does not assume any responsibility for the
accuracy or completeness of the above article. Please
consult a financial advisor for specific advice
pertaining to your particular situation.
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