close premium

autosec

I have just recieved a credit agreement from close premium finance

amount financed £803.36

deposit £275

total premium £528.38

interest £102.83

total amount payable £906.18
interest rate 12.8 per £100
apr 54.87%

so they have charged me interest on my deposit as well

is this correct


regards

derek

Emmzi

impossible to tell unless we know how long the loan is repayable over.

nomoneytoday

I doubt it.
Why on earth are you paying 54% APR?

geoffky

Is this for a car?

autosec

Its for 10 months

£70 per month

car insurance

my main query is the fact they have added the interest on to the whole premium and then deducted the deposit

i am not paying the credit i have paid it in full as i thought the rate to be extortionate and the fact i am paying interest on money i have alreafdy paid them


derek

[Deleted User]

£800 for car insurance and 54% interest,didnt you use a comparison site to shop around?if not then i`m afraid you deserve to be ripped off !

rdwarr

woodbine wrote: »

£800 for car insurance and 54% interest,didnt you use a comparison site to shop around?if not then i`m afraid you deserve to be ripped off !

Nobody deserves to get ripped off. Saying that it's OK to con somebody because they're not as switched on as you is the same as saying it's OK to mug old ladies because they're less able to defend themselves.

[Deleted User]

rdwarr wrote: »

Nobody deserves to get ripped off. Saying that it's OK to con somebody because they're not as switched on as you is the same as saying it's OK to mug old ladies because they're less able to defend themselves.

they knew how to post on here after the event did they not?
theres being switched on and theres utter stupidity...two things miles apart
would you pay £800 for a cup of tea?....you wouldnt?...point made !

KingElvis

54% for car insurance is utterly insane

Vikipollard

woodbine wrote: »

£800 for car insurance and 54% interest,didnt you use a comparison site to shop around?if not then i`m afraid you deserve to be ripped off !

And you dont consider this could be a young driver then? Who, other than being 'fronted' by a parent, is lucky to get close to £1000 for a quote, much less below £800 regardless of comparison sites. I tried them all for my son at 18 with one years' no claims and no one went below £1000.

54% is extortionate, however.

Must be great being so perfect in your world. For the rest of us mere mortals, no one deserves to be ripped off.

[Deleted User]

Vikipollard wrote: »

And you dont consider this could be a young driver then? Who, other than being 'fronted' by a parent, is lucky to get close to £1000 for a quote, much less below £800 regardless of comparison sites. I tried them all for my son at 18 with one years' no claims and no one went below £1000.

54% is extortionate, however.

Must be great being so perfect in your world. For the rest of us mere mortals, no one deserves to be ripped off.

I dont make any assumptions just work on the info provided,lets be honest here the tv is awash with ads for comparison sites,the internet is awash with advice as is the media,people who get ripped off financially in 2011 must be,blind ,deaf.stupid or maybe all three
and i make NO appology for saying so,as for my life being perfect lol do you want to try living it for a week?