Sentences with phrase «more interest over life of the loan consolidation»

As a result, you will benefits by decreasing the amount you owe on a month - to - month basis, but you will pay more interest over life of the loan consolidation term.

Not exact matches

Loan consolidation is a good option if you're looking to lower your monthly payments, as consolidating gives you the option to extend the repayment term of your loan — but remember, extending your repayment term also means you could end up paying more interest over the life of the lLoan consolidation is a good option if you're looking to lower your monthly payments, as consolidating gives you the option to extend the repayment term of your loan — but remember, extending your repayment term also means you could end up paying more interest over the life of the lloan — but remember, extending your repayment term also means you could end up paying more interest over the life of the loanloan.

Consolidation extends repayment, often lowering monthly payments, but creating more overall costs in interest over the life of the loan, and extending your obligation further into the future.

So even at a lower interest rate, an extended term can lead to more interest paid over the life of the consolidation loan or card and a longer period of time during which to pay it compared to continuing on your current course.

Loan consolidation is a good option if you're looking to lower your monthly payments, as consolidating gives you the option to extend the repayment term of your loan — but remember, extending your repayment term also means you could end up paying more interest over the life of the lLoan consolidation is a good option if you're looking to lower your monthly payments, as consolidating gives you the option to extend the repayment term of your loan — but remember, extending your repayment term also means you could end up paying more interest over the life of the lloan — but remember, extending your repayment term also means you could end up paying more interest over the life of the loanloan.

Another disadvantage is that although the interest rate on a consolidation loan usually is less than other types of credit, the extended loan period results in more finance charges over the life of the loan.