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I did a silly thing...
Two9A
Posts: 274 Forumite
I er, bought a car.
Brand new, really very shiny, but five thousand of my finest GBP. Even worse, the best deal I was able to work out was, wait for it:
22.5% APR
Yeah, I know, I fail. Fortunately (!) I put some on a CC, which is 0% until June. I've got some savings which should blast through that come March, when they mature, but the rest is gonna be... problematic.
Just thought I'd let you guys know that I'm an idiot
Brand new, really very shiny, but five thousand of my finest GBP. Even worse, the best deal I was able to work out was, wait for it:
22.5% APR
Yeah, I know, I fail. Fortunately (!) I put some on a CC, which is 0% until June. I've got some savings which should blast through that come March, when they mature, but the rest is gonna be... problematic.
Just thought I'd let you guys know that I'm an idiot
Debts (26.3% remaining) - CC/BARC: [strike]2058[/strike] 100.00 @0%; CC/MBNA: [strike]1877.75[/strike] 0.00; Loan/SLC: [strike]10000[/strike] 7901.84 @1.5%; Loan/Per: [strike]1500[/strike] 0.00; Loan/HX: [strike]15000[/strike] 0.00
Mortgages (94.7% remaining) - NW: [strike]92516.94[/strike] 87565.40 @3.19%; HBOS: [strike]65599.57[/strike] 59106.45 @4%, [strike]69251.57[/strike] 68589.97 @3.49%
Total amount of fail: Dangerous (223263.66)
Mortgages (94.7% remaining) - NW: [strike]92516.94[/strike] 87565.40 @3.19%; HBOS: [strike]65599.57[/strike] 59106.45 @4%, [strike]69251.57[/strike] 68589.97 @3.49%
Total amount of fail: Dangerous (223263.66)
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Comments
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Hmmm. Well good luck with paying it off!
xxxNevertheless she persisted.0 -
what car did you buy?0
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Ouch - doesn't sound like a great deal at 22.5% - is it a proper car finance deal/HP or just a personal loan you took out?
Maybe your savings could go against that rather than the credit card, then you could look to tart the card balance somewhere else in June?A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
(chuckle) you sound like me, magpie syndrome ....
.....mmmmm shiny shiny.....
Im staying WELL away from the garages! Enjoy your new wheels Stuck in a hole
:(:( Just a step from getting out
0 -
dave: It's a Hyundai i10, one of their little ones. Not a bad deal, at the original price, it's just the APR that kicks it up into silly territory.
Tixy: A full hire-purchase deal, so no overpayments I'm afraid. I've dug through the documentation in detail, and I can settle early, so it may make sense as you say to tart the CC balance away. I just don't know if I'll find another low-% deal at that point, since my credit score's basically negative
I'll check my spreadsheet, see if I can't work out some options...Debts (26.3% remaining) - CC/BARC: [strike]2058[/strike] 100.00 @0%; CC/MBNA: [strike]1877.75[/strike] 0.00; Loan/SLC: [strike]10000[/strike] 7901.84 @1.5%; Loan/Per: [strike]1500[/strike] 0.00; Loan/HX: [strike]15000[/strike] 0.00
Mortgages (94.7% remaining) - NW: [strike]92516.94[/strike] 87565.40 @3.19%; HBOS: [strike]65599.57[/strike] 59106.45 @4%, [strike]69251.57[/strike] 68589.97 @3.49%
Total amount of fail: Dangerous (223263.66)0
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