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Can't pay extra off loan unless I pay for all of it!
samuurai_2
Posts: 4 Newbie
in Loans
Hi,
I got a loan for a car a while ago and i've now sold the car. The selling price didn't cover the cost of the loan.
I rang my bank saying I wanted to pay off my loan and they said I can't pay off chunks of the loan, I have to keep paying monthly OR I have to pay it out in it's entirety.
Can you please give me some ideas about what I should do? I'll accrue about £1000 in interest in the next 2.5 years if I don't pay it off... what would you do?
I got a loan for a car a while ago and i've now sold the car. The selling price didn't cover the cost of the loan.
I rang my bank saying I wanted to pay off my loan and they said I can't pay off chunks of the loan, I have to keep paying monthly OR I have to pay it out in it's entirety.
Can you please give me some ideas about what I should do? I'll accrue about £1000 in interest in the next 2.5 years if I don't pay it off... what would you do?
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