Down Payment and Collateral

 The size of your down payment can affect the loan amount, interest rates, and repayment terms. A larger down payment may lead to lower monthly installments and reduced interest costs over the life of the loan. Additionally, some loans may require collateral, such as the truck itself, to secure the loan.

Hidden Costs and Fine Print

 Read the loan agreement carefully and be aware of any hidden costs or fees. Some loans might include application fees, early repayment penalties, and other charges. Understand the terms and conditions thoroughly to avoid surprises down the road.