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loan rate
hi everyone, could someone advise on loan rate, applied to welcome finance,alas rate on document 32.3%..clause 1b...small print variable rate may go up or down...2.25%....per month... any money adviser able to calculate true rate,looking for finance for car purchase would appreciate any advice on which banks or finance companys to apply to..thanks
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Comments
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I think 2.25% is the monthly rate which is the equivalent of a wopping 32.3% a year!
Unless your credit history is bad this is a very bad loan!
If you have a good credit history apply for any personal loan - it doesn't have to be a car loan.
Even use a zero % credit card from egg or MBNA and transfer the balance to your current account. However you will need to find another zero % card when the 0% offer period runs out.
If you look under 'Articles' then 'Banking and Loans' there is an article called 'The cheapest unsecured loans' which may help you.
You should also find loan tables in the personal finance sections of most newspapers, particularly at the weekend.
Good luck
RSmile
, it makes people wonder what you have been up to.0
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