Absolutely. Rate is only part of your financing arrangement. You should be very careful about hidden fees and unfavorable terms in a contract.
There are a number of provisions often found in financing contracts that increase your overall cost, including: required security deposits, down payments, prepayment penalties and end-of-term buyouts.
Let us compare a lease or loan contract you're considering to ours before you sign. While we cannot provide legal advice, we would be happy to compare it to our contract and point out differences in terms and fees. Call NCMIC's Lease/Loan Comparison Hotline at 1-800-396-7157, ext. 6939.