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LogBook Loan dilema

averagejoe92 · 2018-09-14 08:02:36

I borrowed £2,500 from Log Book loans. I have made 4 payments of £310 per month and have 14 more payments to make (250% interest). I can settle the loan early. At the minute it is £3,100 to settle. I do not have the money at the moment but I am saving up and I am able to keep up with the payments as well. The problem is…

Comments

DrEskimo Posts: 2,472 Forumite

19 September 2018 at 7:18AM

If you have £500 left each month then pay overpay on the log book loan! It will save you a tonne of interest.

Once that’s cleared, you will have the £310 you were paying on the loan, + the extra £500 and can pay for the HGV test in cash after just 1 month.

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