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Tesco Loan overpayments
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Just took out a Tesco loan (for a car) - and already want to start making overpayments to reduce the term. This got me thinking though - if there are penalties for settling early, but no penalties for overpaying and reducing the term - is there anything that would stop me at the point I want to repay the full loan from overpaying short of £10 / £20 whatever and then saying I want to reduce the term and then just letting the term reduce to a single payment of whatever nominal amount is left?0
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Not right now, no.Just took out a Tesco loan (for a car) - and already want to start making overpayments to reduce the term. This got me thinking though - if there are penalties for settling early, but no penalties for overpaying and reducing the term - is there anything that would stop me at the point I want to repay the full loan from overpaying short of £10 / £20 whatever and then saying I want to reduce the term and then just letting the term reduce to a single payment of whatever nominal amount is left?
But I wouldn't be surprised if companies start clamping down on this loophole fairly soon."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0
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