Car finance, paying off the interest first

mistalee

I have paid 3 years of a 5 year £11,000 £280 p/m arnold clark car loan. I was hoping to change vehicles but the settlement figure is £8,000 because the type of loan i was given was to pay off the 5 years of interest before the actual £11,000 loan. I thought i would only have about £4,000 left to pay.

Is this normal because i feel like i've been done over! :mad:

Apples2

The car was on finance, of course you were done over. You were paying almost £17,000 for this overpriced £11k car.

I've lost count of the amount of times I have posted the maximum sensible period for a car loan is 3 yrs. By the end of the 3 yrs I for one, get fed up with it and fancy a change.