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Early repayment
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Brokechick
Posts: 7 Forumite
in Loans
I’ve taken out a personal loan for a car. I budget £200 a month for the repayment, but the actual DD is £187. Should I set up a standing order to pay the extra £13 a month or pay off lump sums, say £50 every few months… loan rate 2.8% - would it make a massive difference either way?
Thanks
Thanks
0
Comments
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The earlier you pay, the more you'll save on interest.1
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I’ll just set up the standing order then, every little helps, huh! And I don’t have to think about it either…0
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