working out the interest on a purchase with interest free period

jmk1888

any useful sites for this?? trying to work out the total cost of something before i buy it. it cost £655 with a 6 month interest period where i will be paying £70 a month before reverting to 27.9 apr after the 6 months.

any useful sites with calculators that will help me on this & other amounts

cheers in advance

sdooley

I bet it is only interest free for the first six months if you pay off the full balance before the end of the six months. Otherwise they backdate the 27.9% to the beginning of the loan.

jmk1888

your right with the looks of things, i've just checked their site and it says "...Your balance includes deferred interest from the purchase date..."