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Pay off lump sum on personal loan??
mattmountney
Posts: 16 Forumite
in Loans
Hey all,
Does anyone know of a personal loan where you can pay off a lump sum?
Reason I ask is because I want to buy a new car and I need a loan to afford it. Hence I have two options:
1. I want to avoid getting a loan for the full amount of the new car, then selling my current car and having a few grand sitting in my account.
2. Equally I don't want to sell my car, get a smaller loan and be without a motor until I find a new car.
I'll take option 2 if I have to but if there's a place I could get a £7k loan over 2 or 3 years and pay off £3.5k in a lump sum to reduce the payments/length of the loan that would be ideal!
Cheers, Matt
Does anyone know of a personal loan where you can pay off a lump sum?
Reason I ask is because I want to buy a new car and I need a loan to afford it. Hence I have two options:
1. I want to avoid getting a loan for the full amount of the new car, then selling my current car and having a few grand sitting in my account.
2. Equally I don't want to sell my car, get a smaller loan and be without a motor until I find a new car.
I'll take option 2 if I have to but if there's a place I could get a £7k loan over 2 or 3 years and pay off £3.5k in a lump sum to reduce the payments/length of the loan that would be ideal!
Cheers, Matt
0
Comments
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all personal loans will allow this although there may be a ovepayment fee0
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Excellent news! :beer:
Any ideas on who charges the smallest fees? Or if there's any calculators for combining APR and these fees for a one off lump sum payment?0
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