Interest Rates: Pay close attention to the interest rates offered by different lenders & compare them.
Additional Fees & Charges: Be aware of any additional fees & charges associated with the loan, as these can add up increasing the overall cost.
Loan Terms: Understand the terms of the loan, including the repayment period, payment frequency & whether interest rate is fixed or variable.
Credit Score Requirements: Check your credit score beforehand to ensure you meet the criteria & how the loan will impact your credit.
Hidden Conditions: Read the fine print carefully and watch out for any hidden conditions or clauses in the loan agreement.
Collateral: Understand the implications of defaulting on the loan as failure to repay a loan could result in loss of collateral (e.g., home, car).