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Switching Loans
Hi,
I've currently got a Cahoot loan at 21.9%APR. My min payment is £51,15 per month so I've entered 39 months in the How many months are left? section on the loans calculator.
I was hoping to switch to an Abbey loan at 8.9% to save myself some money but every time I load the info into the 'Is It Worth Switching?' part of the Loans calculator - it tells me to stick with what I've got.
How can this be if I'm switching from 21.9% to 8.9%?
Any help appreciated.
I've currently got a Cahoot loan at 21.9%APR. My min payment is £51,15 per month so I've entered 39 months in the How many months are left? section on the loans calculator.
I was hoping to switch to an Abbey loan at 8.9% to save myself some money but every time I load the info into the 'Is It Worth Switching?' part of the Loans calculator - it tells me to stick with what I've got.
How can this be if I'm switching from 21.9% to 8.9%?
Any help appreciated.
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