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PCP Car Loan Front Loaded interest?
Hi all, We've recently (5 months ago) taken out a PCP loan on a car. Cost was £21k, put down a £4k deposit, for £17k outstanding credit with APR 9.9%. The total repayable figure in the contract is basically £26k. I was looking at my credit report the other day and it said the outstanding balance for the loan was £21k!! I…
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Behaviour of MBNA
Two weeks ago I applied to MBNA, through the MoneySupermarket website, for a personal loan of £7,000 towards buying a car. I got approval quickly and on Monday 7th November received a loan agreement by email. The covering email told me I should receive the loan within 3-5 working days. A week later, with no communication…
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Barclays Partner Finance - when do they actually take payment?
I set up a 24 month 0% agreement with Barclays Partner Finance for a new iPhone which all went through OK, and was advised my first payment would be taken from my bank account (NatWest) on 21/11/22 i.e. today But so far they've not taken any payment, and I can't see a direct debit set up for doing so (don't know if they…
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How easy is it to swap cars on finance deals?
Before I cut to the chase, I’m wanting to borrow more against my car finance and change my car. I’m wondering what the likelihood of keeping the same interest rate would be? As well as how easy is it to change a car over on an agreement? Basically I currently have a BMW 330e. I paid a large deposit on purchase and pay £251…
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Old and new Student loan
My daughter has graduated this year (so has three years of student loans). She’s taking a year out and plans to do PGCE next year. I didn’t realise PGCE is funded using the undergraduate student loan system. I wish she’d applied for this year as now she’s going to have to be funded under the new system for PGCE. I’m not…
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PCP deposit
Would like to take out a car on PCP from VW. Can anyone advise if i can use my 0% credit card for the deposit?
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Giving advice & Any advice from anyone would be grateful.
I’ll start by saying yes we signed for this loan but did we truly understand what we signed into, no we were desperate to keep a roof over our young children's heads. We took a £47,000 interest rate loan out OVER 16 years ago, paying back about £425 a month, we have paid back around £80,000, I contacted said company about…
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Borrowing against partner’s property?
have googled extensively on this and there is very little on it but it must be ‘a thing’ surely? is it possible to use a partners property to guarantee a loan? We live together and the house is in her name, she is not interested in taking on additional debt herself (and lending it to me) so this would be the alternative-…
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Car Finance
My friend has car finance on a car that is in the garage and needs anywhere between £2000 (to get it roadworthy enough to sell) and £4500 to get all the problems fixed. She can’t really afford either of these options . Does anyone have any suggestions for how she can come out of this with something more than a car left…
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Should I pay back my student loan?
So this is an interesting one guys and I interested to hear your opinions. I'm just trying to work out if I can save money by paying off my student loan as due to a pay increase this month and coupled with the student loan interest rate increasing next month (from 1.5% to 6.3%) for the first time I'm actually considering…
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Loan after a death
Hello, my beautiful wife passed away in October 23rd and I’m currently going thru all our stuff, it’s very hard, she has a loan with Zopa which has 2 and a half years left to run. do I have to keep on paying it? we had about £1700 in the bank in our joint account, I think she owed about 4 or 5k what is the situation…
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Is paying off my student loans at this point a bad idea?
I feel it would be good financial sense to pay off my loans, but have heard that sometimes there is no point and you can't get your money back so don't want to make a mistake. Reading all the info on this site, everything tells me I should pay them off, because I'm earning the worst amount for repayments £52,167 and will…
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should I replay my loan in full earlier?
Sorry if this will seem silly, I am not an experiment borrower I took a ball loan of £2000 in November /2021 to buy a new laptop and phone as both died in the same week and I did not have any spare cash in that month to buy straight out (not even second hand refurbished devices) - I also like the apple stuff and have used…
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car purchase
Hi Am thinking of getting a new car but need some advice car costs around £19k if take PCP monthly is 300.84 over 49 months would be able to get a loan from my bank and would it be cheaper ? any idea what repayments would be ?
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Checking yr account
Hello out there I’m looking to get a loan to put all my credit cards into one payment is it normal on apps from the App Store for the lender to ask you to let them look through yr account by you signing in and then checking transactions etc
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Please help me understand my car finance
So in January 2022 I took out cad finance to buy a car. It was only needed short term and I intended to pay it off relatively quickly. The finance was for £10,695 and I paid £12,000 deposit. The finance company front loaded the interest onto the agreement so the paperwork from them has my starting balance as £16,399.60. I…
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Elderbridge - Urgent help for vulnerable person
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Car Finance
Hi All, not sure if this is the right place to post this. I am just after advice while the investigation is ongoing. So I took out a car finance from a dealer 2021 for Mercedes Benz (paid deposit and been paying monthly to Motonovo). I then paid the final balance for the car this year June 2022. On Sunday I went to Land…
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Clearing debt
So I've now started working more hours and want to consolidate my credit cards as I'm expecting the letters in the door any moment to say the interest rate is going UP. I've been declined for a personal loan and the only way I can see getting a loan to sort the debt all into 1 place is by getting a secured loan. I'm not in…
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Applying for a loan with self-employed income
I’m applying for a personal loan, so obviously as part of this they ask my income. The problem is it feels like the questions are set up for employed people but I’m self employed (director of my own ltd company). When it says ‘income before tax’ if I put £49k, that assumes a take-home of about £36k but because I’ve already…
