Please login or sign up to post and edit reviews.
388 – The Biggest Trick Lenders Use: Weekly and Bi-Weekly Payments
Podcast |
Debt Free in 30
Publisher |
Doug Hoyes
Media Type |
audio
Podknife tags |
Investing
Personal Finance
Categories Via RSS |
Business
Investing
Publication Date |
Feb 05, 2022
Episode Duration |
00:31:20
Lenders sometimes ‘trick’ us by posting only the weekly cost of borrowing a loan (which is a much smaller number) than the monthly cost in their ads. Or they offer you an 8-year term on a car loan, which stretches the cost over more years, reducing your monthly payment, but increasing the total interest you pay. In both cases, the lender ‘wins’ by getting your sale and you end up owing a lot more than you originally planned for. So how can you avoid falling for lender tricks and approach offers more with a more critical eye? That’s the discussion on today’s podcast with guest Scott Terrio and host Doug Hoyes! Tune in.

Links:

Scott Terrio on Twitter: https://twitter.com/ScottTerrioHMA

How Car Loans and Loan Rollovers Lead to Insolvency https://www.hoyes.com/blog/how-can-car-loans-lead-to-insolvency/

This episode currently has no reviews.

Submit Review
This episode could use a review!

This episode could use a review! Have anything to say about it? Share your thoughts using the button below.

Submit Review