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Does anyone have a large loan
Bublin1
Posts: 724 Forumite
Does anyone have a large loan....£8000 or over?
I am paying £180 a month and have just found the paperwork that says i can make overpayments without charge. The APR is really low and nothing lower is offered anywhere else.
My question is to anyone with a large loan - are you making overpayments to chip away at the debt or is it best just to save instead?
At best i could probably overpay about £20 a month which is not much at all.
I have no other debts except for a Mortgage.
I am paying £180 a month and have just found the paperwork that says i can make overpayments without charge. The APR is really low and nothing lower is offered anywhere else.
My question is to anyone with a large loan - are you making overpayments to chip away at the debt or is it best just to save instead?
At best i could probably overpay about £20 a month which is not much at all.
I have no other debts except for a Mortgage.
Dave Ramsey Fan[/COLOR]
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Comments
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Hiya
We have a couple of loans - one we make an overpayment of £5 per week by standing order, and the other we make extra payments as and when we can. It may make it a bit of an incentive if you can work out how much interest you'd save.
Not sure if that's any help!
RSDiscosPlan to PAD Everyday 2026Credit Card - £2864.24 int free to 31/05/26) -PAD TotalsJan 2026 - £277.72Feb 2026 - £40.57 11.11% paid!0
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