5.9 % APR see

johnnyf117

Hey guys, just used the repayment calculator on Martins sitefor the amount i need to borrow the results came up great.
Boroowing £9500 over 3 yrs at an interest rate of 5.9% was repaying £157 per month. I cant seem to find anyone who will do that. Any ideas????????

somethingcorporate

If you look at Martin's tab on loans here: http://www.moneysavingexpert.com/loans/cheap-personal-loans

You can see that Sainbury's offer 5.9% representative for £9.5k over 3 years. Here: http://www.sainsburysbank.co.uk/borrowing/micro/bor_loans_msm2_apply_alt.shtml

Although your sums do not add up as 3 years repayment at £157 a month is only £5.6k, so not even covering the capital let alone the interest. No idea where you got the idea that the repayment would be so low. Your repayment would be closer to £300 pm.

DCFC79

Plus your not very likely to get that advertised apr though, could well go up.

Peelerfart

Just done the sum on said calculator and that would,if offered,take you 72 months to pay off.

The good news is that came out at £156 and not £157 - Enjoy.

KingElvis

Plus you have to be Alan Sugar, Ted Turner or Bill gates to get those rates.

In all honesty, you're more likely to be offered something like 14.9%

DCFC79

Peelerfart wrote: »

Just done the sum on said calculator and that would,if offered,take you 72 months to pay off.

The good news is that came out at £156 and not £157 - Enjoy.

Dam, 6 years to pay off a loan,