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Hire Purchase - Extremely Confused
Tracy_Anne_C
Posts: 1 Newbie
in Loans
Hi All,
Was wondering if i could have some help. I'm not very good at understanding the terms that lenders use, the 'Lenders' wont tell me how its calculated and cant find anything on the net.
I'm ready to settle my HP for my car - YAY!, so dug out my 'agreement', and on it there's a 'Credit Facility Fee' - Payable at the end of my agreement and an 'Option Fee' - again payable at the end of the agreement.
Does anyone know what they are and why they are lots of £?
Cheers
TAC
Was wondering if i could have some help. I'm not very good at understanding the terms that lenders use, the 'Lenders' wont tell me how its calculated and cant find anything on the net.
I'm ready to settle my HP for my car - YAY!, so dug out my 'agreement', and on it there's a 'Credit Facility Fee' - Payable at the end of my agreement and an 'Option Fee' - again payable at the end of the agreement.
Does anyone know what they are and why they are lots of £?
Cheers
TAC
0
Comments
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Are you absolutely certain that you have HP and not a personal contract plan? Option fees are usually a feature of the latter.I used to think that good grammar is important, but now I know that good wine is importanter.0
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