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Loan for car - HP vs loan plus will want to pay off early

GemmaC · 2015-03-01 23:22:31

Hi, We need to borrow approx. £9500 either via HP or a loan. But later this year we will be able to pay the whole thing off. The figures are: HP: 6.57% per annum / 12% APR Sainsbury's loan: 3.6% per annum / 23.6% APR (I should add I understand about the early settlement fee on the loan but my plan would be to make an…

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Foxy-Stoat_3 Posts: 2,980 Forumite

2 March 2015 at 3:54PM

I wouldn't enter in to a HP agreement knowing that I will settle in a few months....I wouldn't even take out a loan, just wait until the money was in my account.

"Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!
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Loan for car - HP vs loan plus will want to pay off early

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