Besides the finance charge,you should also consider ____ when you shop for a consumer loan.
A) loan maturity
B) total cost of the loan
C) collateral
D) repayment penalties
E) all of the above

Question

Quizplus · Accepted Answer

When shopping for a consumer loan, in addition to the finance charge, it is important to consider factors such as loan maturity, total cost of the loan, collateral and repayment penalties. Loan maturity refers to the length of time you have to repay the loan, while the total cost of the loan includes all fees and charges involved in the process. Collateral refers to any property or asset that secures the loan, which may affect your eligibility for the loan and interest rates offered. Repayment penalties refer to any additional fees or charges incurred for paying off the loan earlier than the agreed-upon repayment schedule. Therefore, it is best to consider all of these factors before making a decision on a consumer loan.

Besides the Finance Charge,you Should Also Consider ____ When You