Zopa or A&L for a Loan???

Ultimatus

I want to get a £7000/£7500 loan over 36 months but also be able to pay it off early.

Zopa is only offering a 12% deal, whereas A&L offer 7.8% (I haven't tried applying for this one yet).

I should be able to pay off the loan within 12 months. Does anyone know what kind of fee A&L charge for an early repayment?

Which loan would work out better?

TIA

P.S. I already have a Virgin card so cannot do any super balance transfers.

[Deleted User]

dont be surprised if A&L come back with something in excess of 7.8%

Ultimatus

Yes I am expecting that. I want to wait until I'm sure I want to use A&L before applying as it may affect my credit score.

Tesco is getting some praise on this site so I might try there...

Ultimatus

Sorry I am being a bit dumb here but:

Say I get a £7500 loan with Zopa @ 12% and pay it off in 12 months.

Or

I get a £7500 loan with Tesco for say 9% and pay it off in 12 months.

Which would work out cheaper?

Gorgeous_George

Providing the rates are both APRs, the Tesco loan would be cheaper.

GG

jamesd

Ultimatus, you could always try one of the other SBT cards. Maybe the Post Office or AA.