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"Top heavy" vehicle loan

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Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Skylined wrote: »
    Yeah I will have to go through that agreement. Thank you for the replies, let's pause it here for now until I hear back from them and do a bit of research of my own

    Don't leave it long. Every day is costing you another £2.
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Don't leave it long. Every day is costing you another £2.


    Not every day....just think in 12 months time it will only cost him £1.60 a day !!!:rotfl:
  • Skylined
    Skylined Posts: 14 Forumite
    Fifth Anniversary 10 Posts
    edited 7 November 2019 at 4:54PM
    In 12 months the cost will be £0 a day, I never intended to keep this dragging for 3 years. I'm grateful they've provided me with a service, and they've made enough profit for that service already. I wasn't aware I was basically paying off interest, but oh well.. I really appreciate all the helpful replies, thanks to you I now understand what's going on. Many thanks :-)
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    At least you know how interest is calculated and applied. ANY finance with an interest rate thats in double figures is expensive - if the first number starts with a 4 then it would be eye watering.

    Good job
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