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Responses
taking a loan with a longer term
taking a loan with a longer term
taking a loan with a higher APR
taking a loan with a higher APR
making a smaller down payment
making a smaller down payment
making larger payments than required
making larger payments than required
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The option that will save you money over the life of your loan is:
making larger payments than required.
Making larger payments can help you pay off the principal faster, which reduces the amount of interest you will pay over the life of the loan. The other options (longer term loans, higher APRs, and smaller down payments) can lead to higher total costs.
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