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Which loan?
hello there! im not excellent with maths and i'm new to the confusing world of loans. I'm looking for a £5000 over 3 years and Sainsbury's (with my nectar card) are offering 7.1 or 7.9%apr, which i nearly jumped at as it meant i would pay back approx £5685 (according to credit rating) compared with approx £6225 total from my bank Lloyds. Lloyds cant seem to come lower than 14%.
My problem is that i'm worried about Sainsburys' small print and as it's all over the phone you dont get to see it until you've applied for the loan.
I want the cheapest overall repayment at a monthly cost i can afford (about £170) but i get bonuses so would be able to pay back more at times so i didnt have the loan on my mind for a full 3 years, perhaps 2-2 and a half, i know sainsburys can charge up to 58 days interest for early resettlement but didnt understand the financial jargon about overpayment some months.
Has anybody got a similar loan and can help me out and which would you advise to use?
My problem is that i'm worried about Sainsburys' small print and as it's all over the phone you dont get to see it until you've applied for the loan.
I want the cheapest overall repayment at a monthly cost i can afford (about £170) but i get bonuses so would be able to pay back more at times so i didnt have the loan on my mind for a full 3 years, perhaps 2-2 and a half, i know sainsburys can charge up to 58 days interest for early resettlement but didnt understand the financial jargon about overpayment some months.
Has anybody got a similar loan and can help me out and which would you advise to use?
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