What to Consider Before You Get a Loan

Cost isn't the only issue when it comes to taking on debt. You must pay attention to these three equally important factors.

My friend Sammy recently bragged to me about the luxury car he bought using borrowed funds. He proudly said his loan terms were 0% for 60 months, and his monthly payment of $995 is all principal, no interest!

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Vid Ponnapalli, CFP™, MS, EA
Founder & President, Unique Financial Advisors
Vid Ponnapalli is the founder and president of Unique Financial Advisors. He provides customized financial planning and investment management services for Generation X professionals. Ponnapalli is a Certified Financial Planner™ with an M.S. in Personal Financial Planning. He is an Enrolled Agent (EA), licensed to prepare tax returns and represent taxpayers before the Internal Revenue Service. Ponnapalli is a current active member of the National Association of Personal Financial Advisors (NAPFA), the Financial Planning Association (FPA), XYPN (a financial planners network focused on Generation X and Generation Y clients) and National Association of Enrolled Agents (NAEA).