If you have an existing loan through one of the major banks, chances are you’re being charged a monthly fee of $10 or $12. This is an absolute scandal!
These fees will quickly attract interest and you’ll eventually be charged compounding interest on bank fees. Outrageous. If you go with a lender who charges monthly fees , over the life of the loan you’re likely to pay many thousands of dollars in unnecessary interest.
Are you paying too much? Check your loan here.
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How can any lender justify monthly fees? I wouldn’t think they would be doing anything on a monthly basis to earn them.