Calculate your loan payments, total interest, and compare different loan options to make informed borrowing decisions.
Always calculate the total amount you'll pay, including all fees and interest. A low interest rate doesn't mean a cheap loan if there are high processing fees.
Longer terms mean lower monthly payments but more total interest. Shorter terms cost more monthly but save money overall.
Only borrow what you need and can afford to repay. Consider your monthly income and existing expenses before taking a loan.
Don't accept the first loan offer. Compare rates, fees, and terms from multiple lenders to find the best deal for your situation.
Late payments result in penalty fees and damage your credit score. Set reminders or automatic payments to avoid missing due dates.
Understand all terms and conditions, including penalty fees, early payment options, and what happens if you can't pay on time.