In considering the True cost of a personal loan,if you used collateral to reduce the interest charge,then the appraisal fee charged to evaluate the assets should not be considered part of the cost of borrowing.

Question

Quizplus · Accepted Answer

The appraisal fee charged to evaluate the assets used as collateral is a direct cost of obtaining the loan, and should therefore be considered as part of the borrowing costs even though it is a one-time expense.

In Considering the True Cost of a Personal Loan,if You