Bright House credit agreeement

[Deleted User]

molerat wrote: »

But .... but ...... but it's £2.23 a week dearer

Anyone who is that desperate, really shouldn't be taking on any further financial commitments.

PixelPound

Bedsit_Bob wrote: »

Either way, £5-23 a week for 52 weeks, is a lot cheaper than £3 a week for 156 weeks.

I don't think you get what I mean.
A £200 loan at 50% APR would mean
£4.91 per week over 52 weeks (total paid £255)
£2.48 per week over 156 weeks (total paid £387)

So the longer deal is much more expensive, and so the comparison isn't really much use for two companies. You need to do similar loan lengths.

I suppose the thing here is BH lets long loans out to maximise interest.

Silvertabby

nic - I think Bob was saying that, sadly, there are people out there who simply don't have the financial nous to see that lower weekly payments don't necessarily mean cheaper.

My late parents, bless them, would be included in this group. Despite my best efforts, I swear that if toilet rolls were £2 for 10 rolls or £1 for one roll then my mum would buy one roll and reckon that she had saved a £1.