What should borrowers compare?
If you were comparing installment loans in Canada for $1,500–$20,000, which details would you check before applying? Would you compare APR, payment frequency, loan term, total cost, and early repayment options?
20 Views
I’d compare more than just the advertised APR when looking at installment loans. The payment frequency and loan term can make a big difference to how manageable the loan feels each month. I’d also check the total cost of borrowing, any additional fees, and whether early repayment is allowed without penalties. The Magical Credit page is a useful reference for reviewing these factors before applying.