best card to BT from a bank loan?

$17mma

sashacat wrote:

Hglt... your thanks button has gone and I don't know how to get it back!

You can only thank once per post, once you have thanked in that persons post you have to thank the person in another post..

Brenny

Hi. I've been following this thread, which has been very useful to me. I am hoping to pay off a car loan early - I am going to phone up for a settlement figure, but wonder whether there is a better way of doing this (i.e. can I follow the advice given to sashacat re avoiding early settlement charges?)

HGLTsuperstar

Brenny, first thing to do is ring your loan company and see if there are any charges for "overpayments" , dont tell them what you want to do and dont say you intend to clear the debt. If you can make overpay without charge, then yes follow the same plan.

Brenny

I started another thread on Loans because I had already phoned and got an early settlement figure that was £8 less than the total I have left to pay! Therefore I have assumed that I am basically stuck. OR is it that, if I make overpayments, the interest that would have been due over the next two years is deducted? But, if that's the case, how do I calculate what to pay and how do I make sure I get the interest back?

HGLTsuperstar

First thought, is that £8 less and including any early settlement penalty charges?

Brenny

Early resettlement: £7375.91.
Carrying on paying off loan: £7384.30

Early resettlement to include early settlement penalty I assume!

I phoned up after your last post and made a general enquiry re making "overpayments". Person I spoke to was quite specific in saying "Yes you can, but it won't reduce the interest that is due and you pay".

HGLTsuperstar

Dont assume anything, get them to confirm no early settlement fee!