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which loan???

edited 30 November -1 at 1:00AM in Loans
2 replies 1.3K views
snakey_2snakey_2 Users Awaiting Email Confirmation
76 posts
edited 30 November -1 at 1:00AM in Loans
im currently looking for a loan but would like some thoughts on where to go, I am thinking of borrowing 7k-8k for a car and paying back over 3years. I believe with some loans you can pay more back than the required amount each month and that reduces the interest or something like that, is this true? Can anyone suggest or recommend where to go? cheers

Replies

  • hopefulfoolukhopefulfooluk Forumite
    2.4K posts
    1,000 Posts Combo Breaker
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    Cahoot's flexible loan features quite regularly with the ability to overpay as you wish (it basically works like a credit card, but without the plastic card or the nasty interest rate).

    Shop around - moneysupermarket.com is a good place to check out all the different rates available. Don't go to your bank because they will shaft you!

    Chris
    Getting married to fellow MSE-er Lazymoo on 5/2/11 (brought forward by 8 months!!) :) :grinheart

    Unsecured debt: £0 :D (and intending to keep it that way now...)
    Mortgage balance: £153,308 (MFW once our wedding bills are paid!)
  • Northern Rock and Cahoot offer the best rates @ 5.7% but Bank of Scotland have a 6.1% loan without risk based pricing (ie the first 2 do have this feature). All are fixed rate loans. As mentioned above, definitely shop around on the comparison sites (uswitch.com etc).
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