Advice needed about car loan?

Nutty_Saver

Hi everyone,

This is my very first post, although have been using MSE to try and get finances from red to black, it working v slowly!

I took out a loan for car a year ago over 5 years at 14.1%APR. I wanted to pay a bit extra towards it but the company said it wasn't their policy to allow that but they did accept early final settlement by cheque or debit card but not credit card. My question is that I want to somehow move that debt to another place (credit card/loan/???) with a lower interest rate, either over a shorter time or be able to pay more if/when I can?

Any idea anyone? Thank you in anticipation,

Nutty Saver

CLAPTON

A lender must provide a settlement figure in accordance with the CCA formula.
However they do not have to accept overpayments...

So if they won't accept overpayments, its your option to either continue paying or to find a new loan and pay off the settlement figure.

Nutty_Saver

Thanks Clapton. I'll have a look at some loan rates.