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Regulated and non-regulated

Flying_Quill · 2009-06-23 13:07:47

Could someone tell me what the difference is between regulated and non-regulated loans, please? I have a 4 year car finance plan (hire agreement) which is half way through, but I've paid off less than a quarter of the loan - just half of all my payments have been used to reduce the loan, the other half is interest! The…

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ljcb123 Posts: 34 Forumite

21 July 2009 at 2:08PM

Hi I am in the same position, we have a balloon payment of £21,035.00 to find, although the salesman told us when we bought the car that we could either pay it or hand the car back; now we can do neither. There is no mention of the interest rate on the agreement.

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Regulated and non-regulated

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