How much interest will I pay?

Cantona_2

Does anyone know of a calculator on the internet that allows you to enter an amount, what the APR is and over how many months you intend to pay it back?

I'm looking into whether it is cheaper to get my car insurance via my credit card or by paying by instalments through the car insurance company.

The best quote I have so far is £500, which I would intend to pay over 10 months, and the APR on my credit card is 9.9%.

Thanks in advance for any replies.

moneyuser

http://www.whatsthecost.com/loan.aspx

Try the snowball calculator as well, enter £52 for repayment

Rafter

Some insurance companies may charge you a fee for paying by credit card so make sure you factor this in to your calculations.

At 9.9% you will usually be better off using your card or an overdraft than the expensive rates charged by insurance companies on the whole.

R.