* Term of the loan – personal or car loans often have a term of between one and five years, although some can run for up to seven years. * Interest rates – these can vary wildly depending on the term of the loan, financial institution offering the finance, loan amount and whether you want a variable or fixed rate. * Other fees and charges – check the fine print for establishment fees, annual fees, fees for paying out the loan early and fees for defaulting on a payment. * Insurance – does the loan require you to take out insurance to cover missed payments? * Repayments – can you make repayments weekly or fortnightly? This can quite often save money over the term of the loan

Finally, only commit yourself to a loan that you are confident you can repay.

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