northridge finance Help

Naked_Goose

The rate you are quoting is flat rate (which may also be on paperwork) and is the rate mostly used in car industry. APR is typically twice flat rate (roughly). Flat rate is much more simple. Just take the amount borrowed, multiply it by flat rate and that is interest per year (NOT the APR). If agreeement is 5 years, then total interest ios 5 times. Your repayment should be the original amount borrowed plus the interest (as calculated above), divided by the number of instalments (in your case 60). First and last payments will also typically have a fee.

The fact that you don't 'recall' signing is not really a defence. If they have sent you a copy with your signature, then recollection not an issue, you did sign, so time to pay up I'm afraid.

nickro59

More of the "holier than thou" brigade making themselves look fools.

The OP is looking for a settlement figure to pay this off 3 years early. There is no suggestion whatsoever that he is trying to get out of paying for it.

Try and read the facts first before you type your sanctimonious replies.

beachbhoy

Naked_Goose wrote: »

The rate you are quoting is flat rate (which may also be on paperwork) and is the rate mostly used in car industry. APR is typically twice flat rate (roughly). Flat rate is much more simple. Just take the amount borrowed, multiply it by flat rate and that is interest per year (NOT the APR). If agreeement is 5 years, then total interest ios 5 times. Your repayment should be the original amount borrowed plus the interest (as calculated above), divided by the number of instalments (in your case 60). First and last payments will also typically have a fee.

The fact that you don't 'recall' signing is not really a defence. If they have sent you a copy with your signature, then recollection not an issue, you did sign, so time to pay up I'm afraid.

Thank you for your input, I will be paying the full amount next week. However The rate quoted was a flat rate of 4.25% but they are charging 4.3% so their is obviously an error which I never picked up before. Iam still not sure why they paid extra money to the garage, I conatcted the garage to day to ask if they could tell me what the extra was for and I am waiting on a reply.

eschaton

nickro59 wrote: »

More of the "holier than thou" brigade making themselves look fools.

The OP is looking for a settlement figure to pay this off 3 years early. There is no suggestion whatsoever that he is trying to get out of paying for it.

Try and read the facts first before you type your sanctimonious replies.

Take your own advice and learn to read.