Demo
Member
Registered: 27th Sep 01
Location: south wales Drives: astra sri ecoflex
User status: Offline
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my loan company have offered me an extra £1500 for only £20 extra a month
im thinking take the loot, go on holiday, spend a few pound on the car and then stick the rest in the bank for when i wanna spend it - this usually consists of pissing it up against a wall 
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mav
Member
Registered: 19th Jun 01
Location: Scotland
User status: Offline
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why not...........
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Demo
Member
Registered: 27th Sep 01
Location: south wales Drives: astra sri ecoflex
User status: Offline
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yes i feel this makes perfect sense
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mav
Member
Registered: 19th Jun 01
Location: Scotland
User status: Offline
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your only young once, and it's not increasing the term of your loan so paying it off in the same amount of time..if you can afford it..
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Pablo
Member
Registered: 3rd Feb 03
Location: Milton Keynes
User status: Offline
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yesh but this is the last time and dnt do n e thing silly cos loans get outta hand 
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Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
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Yeah do it!
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J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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Do it, get further in debt, it's great remember!
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Demo
Member
Registered: 27th Sep 01
Location: south wales Drives: astra sri ecoflex
User status: Offline
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fuck it man i think i just might
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J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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Good ghetto homeboy or whatever it is. Check your freaking self!
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Demo
Member
Registered: 27th Sep 01
Location: south wales Drives: astra sri ecoflex
User status: Offline
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hola 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I personally would look at the entire picture before saying its only £20 more. Thats 75 months to pay £1500 back, unless they are starting a new agreement in which case I would check the term of your existing loan isn't being extended or reset.
If they are starting you a new agreement and the rate is lower - which it should be if you're a few years in as rates have come down - then why not just refinace your existing debt at a lower rate and bring the payment down.
No extra money but it'll paid off earlier and when it is you might actually make some money on interest instead of financing small or unnecessary spending for years to come.
If you really must have a loan to buy small things then before you buy, add 15-20% on to the price and see if you still want it, as that what it will end up costing you.
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DanielJ
Member
Registered: 21st Nov 01
Location: gwent, south wales
User status: Offline
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i pay 105 back a month on a 2k loan over 2 years aint to bad really
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