Need a loan ?

[A2ON]

I'd avoid these people ! Check the APR %



enjoy .....

 

[Ed...]

lmfao thats rediculous

 

[A2ON]

Just to put it into context of you brought a £12k Clio on that apr you would pay back

£282,720

scarry but it is easy to see how people get into trouble with companies like this around.

 

[Ed...]

yeah i stay away from loans for this exact reason.

 

[A2ON]

Don't get me wrong a loan at the right time for the right person can be a life saver . But with loans normally averaging 11% it's not so bad.

Most car finance is 9-15% aswell

 

[Mike]

Just to put it into context of you brought a £12k Clio on that apr you would pay back

£282,720

scarry but it is easy to see how people get into trouble with companies like this around.

No you are wrong there!!

You'd actually pay back way more than that! :eek: :eek:

Amount borrowed £12000
Term 60 Months
Interest rate % 2356
RESULT
Total monthly payment £23560
Total charge for credit £1401600
Total amount repayable £1413600


http://www.thisismoney.co.uk/loan-repayments-calculator
Change the repayment to 10 years, and you pay back £2827200!!!!

 

[Graeme GTR]

intrest rate and APR are two completely different things. This a short term loan that your meant to payback after like 1 or 2 days. So borrow £100, playback £120 the next day. Sounds fine and is if you do, but god help you if you raked a loan like that out on a long term.

 

[A2ON]

Excuse my scruffy quick scribble calculations mike.

I know it's a short term thing but it's still funny !

 

[Mike]

Excuse my scruffy quick scribble calculations mike.

I know it's a short term thing but it's still funny !

You sir are a Personal :whatever: at Barclays

Fingers crossed for Germany too, you need to book room asap if you are coming too

 

[A2ON]

Thanks for the smilie mike (rolled eyes) lol

yeh I know about the Germany thing I'm waiting on Sam . I hope all comes good that would be great !

 

[EmmieLou]

It is completely unbelievable that companies are actually allowed to get away with this! :whatever: These people would be miles better off getting a 'poor credit' credit card, even these are 40% but its a bargain compared to the payday loans. First time I saw it I thought they had missed the decimal place lol!

The maximum term on this type of loan is 30 days, but you should see the penalties for missing it :blowup:

Nothing wrong with taking out a proper loan; as said you will probably get a better rate than you will do from a car finance company!!!

 

[A2ON]

Yeh come see me hahahahahahahahaha

 

[kevo66 (weaveworx)]

Its a short term (read a couple of days) loan. Anyone who takes money over a long term with these has to be dumb as ****!!

 

[A2ON]

Yeh we know it's short term, it's just a jokey thread .

And max term is (read there website) 30 days ;-)