RobD Posted March 22, 2012 Share Posted March 22, 2012 Balls to getting a loan out bud, a cars a car at the end of the day! There will be others that come up! Quote Link to comment Share on other sites More sharing options...
Jamesy Posted March 22, 2012 Author Share Posted March 22, 2012 Balls to getting a loan out bud, a cars a car at the end of the day! There will be others that come up! usually very true mate Quote Link to comment Share on other sites More sharing options...
Tyson Posted March 22, 2012 Share Posted March 22, 2012 can i ask a question about loans: if i borrow say £19k over 7 years and the total payable is say £25k @ £300 pm.... i know they front load the interest, so if i managed to sell my car after 5 months, i would want to settle early. Most companies only charge 2 months interest which is around £100 fee which is fine - my question is...when they do the settle fee, after 5 months id have paid £1500 - so will my settle fee be less than £19k, or will it still be over £19k despite paying £1500 as my tital amount borrwed if fuull term is £25k? im not sure how they work out the settlement figure but i dont wanna be paying for months and end up paying back MORE than the inital loan amount! Regardless of how long it takes you to pay it you will still pay back more than 19K as the you will pay interest on the payments you have made. Then you have your cancellation fee plus more than likely some kind of admin fee too. Depending on what interest rate you get and how long you have it for will dictate the overall cost of the loan, if you have it for say 5 months like you mentioned earlier it will probably be a bit less than 20k Quote Link to comment Share on other sites More sharing options...
Jamesy Posted March 22, 2012 Author Share Posted March 22, 2012 yeah thanks mate - thats what i meant - although i would pay off say £2000, maybe only £800 of that will be capital - so instead of having £1700 left it'll be more like £18200 - meaning i'd have paid £20200 in total? Quote Link to comment Share on other sites More sharing options...
Tyson Posted March 22, 2012 Share Posted March 22, 2012 yeah thanks mate - thats what i meant - although i would pay off say £2000, maybe only £800 of that will be capital - so instead of having £1700 left it'll be more like £18200 - meaning i'd have paid £20200 in total? It all depends on how the interest is applied, on my loan it is spread equally amoung the payments so each payment I make has an equal amount of interest applied to it if you get what I mean Quote Link to comment Share on other sites More sharing options...
Jamesy Posted March 22, 2012 Author Share Posted March 22, 2012 yeah i know what you mean mate - i think this one was front loaded as much as i REALLY want this car this is all very stressful and i know its not the right way to go about it when i stop and think...just wish i could get someone to confirm genuine interest with a deposit on mine.... Quote Link to comment Share on other sites More sharing options...
baldy Posted March 22, 2012 Share Posted March 22, 2012 (edited) removed as not taken to well:) Edited March 22, 2012 by baldy (see edit history) Quote Link to comment Share on other sites More sharing options...
Lbm Posted March 22, 2012 Share Posted March 22, 2012 That's a fairly dreadful suggestion Baldy. Don't like that at all. Quote Link to comment Share on other sites More sharing options...
Gaz6002 Posted March 22, 2012 Share Posted March 22, 2012 That's a fairly dreadful suggestion Baldy. Don't like that at all. Absolutely. I'm surprised anyone would post something like that TBH. Not good at all. Quote Link to comment Share on other sites More sharing options...
baldy Posted March 22, 2012 Share Posted March 22, 2012 Absolutely. I'm surprised anyone would post something like that TBH. Not good at all. it was ment as a joke;) Quote Link to comment Share on other sites More sharing options...
Tyson Posted March 22, 2012 Share Posted March 22, 2012 you could get someone to invest in your salon,once you got the money get the car,then bankrupt the business. then get a new company name and trade as the original business name,bingo i know this works for a local business man i know who has done this to a few people over the years. not really ethical and not what i would do,but if you want it that bad it does seem to work for people out there Did I really just read that No wonder this countries economy is going down the pan with a business model like that .... Quote Link to comment Share on other sites More sharing options...
Gaz6002 Posted March 22, 2012 Share Posted March 22, 2012 it was ment as a joke;) LOL - the smileys might have been more appropriate in the original post Quote Link to comment Share on other sites More sharing options...
baldy Posted March 22, 2012 Share Posted March 22, 2012 Did I really just read that No wonder this countries economy is going down the pan with a business model like that .... yes you did,i don't condone this at all,but it is something that is done by someone i know of i really was ment as a joke,so dont do it jamesy Quote Link to comment Share on other sites More sharing options...
Jamesy Posted March 24, 2012 Author Share Posted March 24, 2012 I dont think i could ever want anything anywhere near bad enough to do that and i certainly wouldnt ever want to use the salon that ive worked very hard with. Quote Link to comment Share on other sites More sharing options...
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