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Car Loan Advice Wanted

willij5 Posts: 9 Forumite

7 August 2006 at 6:12PM in Loans

Hi all,

I took out a car loan in August 2005 borrowing £7,000 over 5 years. Apr wise it was 5.9%. I'm now able to pay around £5000 of this loan off and would like some advice as to what the best thing to do is.

I called up the finance company and they quoted a settlement figure of just under £7,000. Is it best to borrow a further £2,000 and pay the loan off?

Are there other options?

Thanks,

James.

This discussion has been closed.

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