Gregor
Member
Registered: 28th Nov 03
Location: Paisley, Renfrewshire
User status: Offline
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Never taken one out before but I'd like a new car and this seems a good option 
What Id like to know is , say Im paying £150 a month - can I one month pay back 500 if I wish , and if I do this more than once will the interest decrease ?
Also , do I really need protection on the loan ?
Thanks
Gregor
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TheCam
Member
Registered: 16th Mar 07
Location: Kirkcaldy
User status: Offline
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you cant just pay more off when you want to.. at least not with RBS or welcome finance. For £150 p/m i wouldnt bother with protection because if worst came to worst im sure you could make £40 a week doing odd jobs. payment protection adds a fair old whack onto the overall price.
The interest is usually a flat rate and wont increase or decrease.
how much you looking for over what period of tim,e?
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Gregor
Member
Registered: 28th Nov 03
Location: Paisley, Renfrewshire
User status: Offline
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Hmm I thought that would be allowed 
£3000 over 2 years
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TheCam
Member
Registered: 16th Mar 07
Location: Kirkcaldy
User status: Offline
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all depends on age and credit rating as well. that loan would probly be about £150 pm.
if you come into some money just stick it into another account and let that pay the loan for a few months
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paul.mitchell1984
Member
Registered: 31st Aug 06
Location: Wakefield
User status: Offline
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you cant pay of more one month and not next etc, but if you did have extra cahs then put it away and clear the rest of the loan in one go as occasionally makes it cheaper...
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Gregor
Member
Registered: 28th Nov 03
Location: Paisley, Renfrewshire
User status: Offline
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Cheers
Loan Im looking at says theres a penalty for early settlement though
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paul.mitchell1984
Member
Registered: 31st Aug 06
Location: Wakefield
User status: Offline
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thats p*sses on my parade then, try a diff loan company ?
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TheCam
Member
Registered: 16th Mar 07
Location: Kirkcaldy
User status: Offline
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quote:
Originally posted by escortgti.com
Loan Im looking at says theres a penalty for early settlement though
 thats a lot of shite! go somewhere else. if you pay it off early you save the interest that you havent already paid
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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I was looking at Personal Loans from Lloyds TSB. Says you can overpay when you like. I've been accepted for 10k but not sure if our flat purchase will be going through yet.
http://www.lloydstsb.com/loans.asp?link=top_navigation
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Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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Northern Rock?
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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quote:
Originally posted by Aj.
Northern Rock?
Beat me to it, just been looking into buying some shares in NR but it seems they've been on a downer for a long time so don't think im going to bother.
Dropped 32% today though 
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Dione J
Member
Registered: 22nd Sep 04
Location: West Midlands Drives: Leon Cupra Turbo
User status: Offline
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Have you tried Halifax?
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Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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James - might be the time to by, they have to go back up sometime.
Either that or they'll go for good
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