The second question you should ask yourself when borrowing wisely is:

“Do I know how much I will pay?”

Answer:

– Compare different offers to make the right choice;

– Remember, a low interest rate does not guarantee a cheaper loan;

– Ensure you include all costs and charges when calculating your monthly repayments, not just interest repayments;

– Beware of aggressive lenders – “good” offers are not always the best;

– Carefully analyze the length of the loan – lower payments over a longer period may not work out cheaper;

Become a wise borrower!