Before you take up any loans - whether offered by a bank, a licensed moneylender, or a workshop or dealership - you should always make sure you understand the offer in its entirety. Check on the interest rate charged on the loan amount (in per annum terms), how the interest is compounded, the duration of the loan, the repayment frequency, and how much you have to pay per payment.
You should also make sure you check for any admin or processing charges, penalties for late or missed payments, and miscellaneous charges, such as early termination fees. A loan may be offered at a low interest rate, but hidden charges and fees will jack up the true cost of borrowing.
For that reason, it is best to borrow only from lenders who practise high levels of transparency. For example, banks in Singapore are required to disclose a personal loan's Effective Interest Rate, which indicates the presence of other charges. With a bank personal loan, you know exactly what you are paying for, and you will not be surprised by hidden fees.