As far as I am aware being ex services or having a debility does not make one a special case , it hasn't in my case although I must admit I havn't played that particular card, it's one I much prefer to keep close to my chest.
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It's a bank loan Lenny, you only pay interest on the outstanding loan amount which continually decreases over the term.It's you that needs to check their sums.
But the figures they quote for a load are always the flat rate per year not the APR.It's a bank loan Lenny, you only pay interest on the outstanding loan amount which continually decreases over the term.
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I can only tell you what nationwide quoted, and money supermarket says the same.But the figures they quote for a load are always the flat rate per year not the APR.
If you put in the APR it's going to calculate it based on that but as Lenny HB says a lot of vehicle finance is advertised at the flat rate of interest that's about half the APRI can only tell you what nationwide quoted, and money supermarket says the same.
Money super say it's calculated on the Apr.
As I don't need to borrow £25 grand this is all a bit academic.
Finance is not my thing, if it was I would be a damn sight richer than I am now.
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They always used to quote on a flat rate, I can't even remember the last time I borrowed money.I can only tell you what nationwide quoted, and money supermarket says the same.
Money super say it's calculated on the Apr.
As I don't need to borrow £25 grand this is all a bit academic.
Finance is not my thing, if it was I would be a damn sight richer than I am now.
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The last time I borrowed to buy a vehicle was the motorbike in 1982!They always used to quote on a flat rate, I can't even remember the last time I borrowed money.
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That's the way to do it! We're playing the long term 0% rate credit card game, use them for all outgoings and put the money we'd normal use to pay the bills into a high rate savings account ... earns a nice bit of dosh! It's even better if you can then get a 0% transfer card at the end and move the balance owing on to that ...Took out a £20k bank loan over 18 months to part finance our last van. We paid £800 in interest. The investment i was going to cash in made £3k in the same time period.
It's a bit different putting it in a savings account than in an investment. The difference being in the first you're money is given some conditions safe in the second you are gambling it. It may sometimes pay off but!That's the way to do it! We're playing the long term 0% rate credit card game, use them for all outgoings and put the money we'd normal use to pay the bills into a high rate savings account ... earns a nice bit of dosh! It's even better if you can then get a 0% transfer card at the end and move the balance owing on to that ...
[Caveat: you should ALWAYS ensure you WILL have access to the money to be able to pay off the CCs in full when you needed to.]
We have a Barclaycard like that with 4k on it, 0% for 2 years.That's the way to do it! We're playing the long term 0% rate credit card game, use them for all outgoings and put the money we'd normal use to pay the bills into a high rate savings account ... earns a nice bit of dosh! It's even better if you can then get a 0% transfer card at the end and move the balance owing on to that ...
Totally agree - I remember many years ago when Kingston Communications was floated (Hull's telecoms monopoly, no BT here!) and people were takig out £20k loans to buy the shares!!! Some will have made a LOT of money as they rose spectacularly from around £3 to £17 but, and that was a BIG but, there was a fair delay between buying the shares and actually getting details of them through in order to sell them ... so I suspect a lot didn't get to sell at the £17 price but still more than like around £12, still a decent profit but certainly NOT something I'd risk. They eventually fell to well below £1 and never recovered much so a lot of people will have lost a lot of money too.It's a bit different putting it in a savings account than in an investment. The difference being in the first you're money is given some conditions safe in the second you are gambling it. It may sometimes pay off but!
So Minxy in your case if you're buying on guaranteed zero rate interest and putting the money in a savings account good on you if you put the time in there's a guaranteed return but borrowing money to keep an investment is a different kettle of fish it could turn out well or if the investment loses value it could be lost money on the interest and the investment
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Yup, you've always have to ensure you'll have the money to pay off when the time comes and don't treat it like a 'freebie' and go on a spending splurge, not even the anticipated 'interest' you'll earn from it being in a savings account as in a lot of cases as we've seen over the last X number of years that can drop like a stone and not recover for a very long time.We have a Barclaycard like that with 4k on it, 0% for 2 years.
Like you and a lot on here we are aware what we are doing with finances but there are a lot of people who will take out these deals and just spend the money then can't afford to pay it off at the end of the 0% term & of course that's what the CC companies want as the customer is then locked into paying it off at high interest rates.
At the moment we're glad we got some into the one year national savings bonds when they had a good rateYup, you've always have to ensure you'll have the money to pay off when the time comes and don't treat it like a 'freebie' and go on a spending splurge, not even the anticipated 'interest' you'll earn from it being in a savings account as in a lot of cases as we've seen over the last X number of years that can drop like a stone and not recover for a very long time.
Same here and also a Santander easy access saver at 5.2% (not available now).At the moment we're glad we got some into the one year national savings bonds when they had a good rate
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No wonder they paid so much interest 10 years is a really long period to finance a vehicle. If it was coming out of the pension I wonder if the realisation after a while that it was going to be a long time before getting back to the full pension affected the decision to try to return it.Black Horse finance is a funny way to finance motorhomes it is worked out over 10 or 15 years their van was 10 year's fixed £104,000 divided by 10 year's then devide by 12 month's £866 per month if sold the next day the total amount is payable £104,000 for a £74, 000 campervan.
Most people would run a mile from them but if you are credit worthy there are places that do £1000 deposit and away you go.
Cheaper than renting some houses.
Black Horse finance is a funny way to finance motorhomes it is worked out over 10 or 15 years their van was 10 year's fixed £104,000 divided by 10 year's then devide by 12 month's £866 per month if sold the next day the total amount is payable £104,000 for a £74, 000 campervan.
Most people would run a mile from them but if you are credit worthy there are places that do £1000 deposit and away you go.
Cheaper than renting some houses.
From the Black Horse website ....No wonder they paid so much interest 10 years is a really long period to finance a vehicle. If it was coming out of the pension I wonder if the realisation after a while that it was going to be a long time before getting back to the full pension affected the decision to try to return it.
The rules were changed 6 or 7 years ago I believe and they had to start using the APR to show costs not flat rate.They always used to quote on a flat rate, I can't even remember the last time I borrowed money.
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Car salesman mate often dropped interest rate to get a sale .No wonder they paid so much interest 10 years is a really long period to finance a vehicle. If it was coming out of the pension I wonder if the realisation after a while that it was going to be a long time before getting back to the full pension affected the decision to try to return it.
They always used to quote on a flat rate, I can't even remember the last time I borrowed money.
Now you remember?Buying Motorhomes on finance seems to be a modern thing of the last 10 years or so, previously very few were bought on finance as most were bought by retired & semi-retired people.
It's the modern generation, have to have it now, can't wait to save up for it.
We dreamed about having a Motorhome for 10 or 15 years until we could afford one.
I will admit we did borrow a few k for our first one but only because we didn't want to use too much of our cash reserves also borrowed at a very low interest rate as my wife worked for the bank.
In Germany financing a MH over 10-12 years is common, it is seen as a longer term and more secure investment than a car, we did our first MH over 10 and paid it off after 7, the next (current) MH was paid for cash, the standard pension lump sump method, but without a long term finance we would not have had our first 10 yrs of MH life and only just be starting.No wonder they paid so much interest 10 years is a really long period to finance a vehicle. If it was coming out of the pension I wonder if the realisation after a while that it was going to be a long time before getting back to the full pension affected the decision to try to return it.
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