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!

Barclays Partner Finance

Options
whambam
whambam Posts: 526 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Loans
Has anyone re-paid a barclays finance loan early?

Can you make an offer? Credit card debts companies make offers and sometimes get 50-75% discount if they pay a certain amount off immediately.

Comments

  • TadleyBaggie
    TadleyBaggie Posts: 6,623 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Only if you have previously defaulted and have been paying a nominal amount. I've never had a reduced offer to pay off a loan/credit card ever.
  • FTBlalala
    FTBlalala Posts: 71 Forumite
    Second Anniversary 10 Posts
    I had Barclays Partner Finance for PCP and paid off a year early with no discount options (as expected).
    Bought First Home - June 2018 Starting £218,500 June 2020 £203,800.95 :T MFW 2020 #78 - Target £3000 - So far... £2182/£3000
    Ultimate Goal MFW by 40! - 2033
  • Shakin_Steve
    Shakin_Steve Posts: 2,813 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Why would they accept an offer of a reduced settlement? They make their money from the interest earned on loans, and a loan running the full term obviously makes them more profit.
    You would, of course, save interest by paying the loan off early.
    I came into this world with nothing and I've got most of it left.
  • Nearlyold
    Nearlyold Posts: 2,377 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    You can make a offer but you haven't a cat in hells chance of it being accepted.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture