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What is the term—the payoff time period It’s important to understand that lenders aren’t in business to lose money. If anybody is willing to lend you money without checking your credit, they’re doing it for a price. Make sure you know what that price is before you apply. They’ll typically charge high interest rates along with various fees to compensate them for the risk. If you can avoid paying that price, do so. What are the repayment terms? (Do I have to pay back in a 30, 60, 90 days or more…the longer the better)
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