We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
You need to check but from what I recall from another finance deal we did for something,
you can get a penalty for paying it off of early BUT if you pay most of it off and let the normal payment(1 or maybe 2) finish it off there is no penalty,
something to do with changes in the legislation for loans.
You need to look at the true figures are you spending more with the dealer?
Less than I thought I would be for the lesser model.
I can't work out how they can reduce the price by £1400 just because you take out the finance that will earn them around £300 in interest even if we let it run?
You need to check but from what I recall from another finance deal we did for something,
you can get a penalty for paying it off of early BUT if you pay most of it off and let the normal payment(1 or maybe 2) finish it off there is no penalty,
something to do with changes in the legislation for loans.
Yes there is a penalty it's about £80 he said. But as the total interest over the term is actually only £221 (not £300ish I said before!) I might let it run a leave the money in TSB at 5%.
