Read the Fine Print Before You Sign

When you get a loan, you just want to get your money (or your car or your house or whatever you’re financing) and go on with your life. However, you can’t always just do that without regretting it later. You should slow down, take a deep breath, and read what you’re signing. 744542 no fine print Read the Fine Print Before You Sign

You could really be surprised at what you’ll find, buried deep in that fine print. When it comes to interest rates, payments, and basic terms it’s usually pretty easy to find out whether you’re getting the deal you agreed upon, but there can be some other issues that only appear in the fine print. Most people don’t read it because they’re anxious to be done with the deal, and some of them also think that they will annoy the finance person if they take the time to read the contract. Slow down and don’t let that worry you. This is a binding legal document, and you should know what it says before you put your name on it.

There can be penalties for early payment, arbitration clauses (restrictions on your right to sue if something goes wrong), and late payment penalties (including owing the full amount due immediately) hidden in there, so it’s definitely worth studying the issue and finding out whether there are concerns that you’re overlooking. You might have to turn down a loan that otherwise sounded great if there are penalties that you’re not willing to accept. You should know what those are sooner, rather than later.

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