#47: Sneaky Interest Rates
When it comes to making a big purchase, it will almost always come with the possibility of taking out a loan in order to help you pay for it. Being able to take out a loan in order to be able to afford something and pay it off over time is a pretty great thing to be able to do… That is if you will be able to actually pay it off.
If you are thinking of taking out a loan, you definitely want to consider how much the interest rate will be on your loan… Just because something might have been affordable to buy doesn’t mean that the interest rate will match it. Often, on seemingly affordable purchases, the interest rate is much higher.
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