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Not Reading the Fine Print Can Cost You

Authored By: Genisys Credit Union on 5/10/2017

Woman analyzing fine print of a contractHave you ever signed a document without reading or understanding everything you were signing? 

Most people would answer yes. 

This can cost you more money than you thought you agreed to. 


Reading the fine print can be especially important when signing for credit. 
   
The keywords you should look for and be sure to understand before signing any financial contract are:


If you are getting an auto loan, other terms that might apply to your agreement could be:

 

Understanding how these terms apply to your specific credit disclosure will help you make the right decisions when thinking about borrowing.

Do not be afraid to ask questions.
If you see any of these terms in your contract and are not clear on what they mean, ask the lender!  If you guess, you may be surprised when you end up paying more than you originally intended.

 

Educating yourself is empowering yourself. 

Resources like GreenPath Financial Wellness are available to help you budget and make the best financial decision to suit your needs.  Educating yourself financially will help you to make the best decision to help ensure you are making good choices when borrowing.

Don't be fooled by thinking that financially successful people fell into success but rather understand the knowledge needed to get there. 

 

© Genisys Credit Union and www.genisyscu.org, 2017.  Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited.  Excerpts and links may be used, provided that full and clear credit is given to Genisys Credit Union and www.genisyscu.org with appropriate and specific direction to the original content.



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