M4tt
Member
Registered: 18th Apr 03
Location: Potters Bar
User status: Offline
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hello
i've got a loan out with marks and sparks at the moment which i've used to buy my car. it was for 4K, but i want to sell up and get rid of the debt -
my car isn't worth enough to clear the debt completly - can i give say 3500 to the loans company and still pay the last remainding amount monthly?
ill probably still owe about 1000 pounds.
im not sure if you can do this - i've got a feeling that you either pay it all off or nothing?
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shrews corsa
Member
Registered: 16th Mar 01
Location: Shrewsbury, Shropshire
User status: Offline
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depends! some let you do it some dont and also some that do will charge for doing it but some dont 
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Skinner
Member
Registered: 14th Jul 03
Location: aberdeen drives:mk4 irmscher astra on 18's
User status: Offline
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yeha u can pay that 2 it mate but u would b better putting it in the bank so u get interest and when u get enough 2 pay it all back do it
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Paul H
Member
Registered: 11th Aug 03
Location: Lincoln.
User status: Offline
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yeah you can do that but you might still have to pay the same ammount per month till the rest is payed off
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M4tt
Member
Registered: 18th Apr 03
Location: Potters Bar
User status: Offline
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thing is though is i stupidly took the insurance out on the loan as well -
i asked my not so helpful dad nad he didn't have me an answer so i thought i'd get it ( better to be safe that sorry  )
so its bumped my overall amount up to some high amount (5500) but its charged at a monthly rate, so the quicker i clear it the less it will cost me overall...
i've had the loan for 3 months.
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M4tt
Member
Registered: 18th Apr 03
Location: Potters Bar
User status: Offline
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cheers every1
ill give em i bell now i know a bit more about it 
thanks
[Edited on 08-04-2004 by M4tt]
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Skinner
Member
Registered: 14th Jul 03
Location: aberdeen drives:mk4 irmscher astra on 18's
User status: Offline
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cant u just cancel the insurance
i was able 2 do that on my loan
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Paul H
Member
Registered: 11th Aug 03
Location: Lincoln.
User status: Offline
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quote:
Originally posted by M4tt
thing is though is i stupidly took the insurance out on the loan as well -
i asked my not so helpful dad nad he didn't have me an answer so i thought i'd get it ( better to be safe that sorry )
so its bumped my overall amount up to some high amount (5500) but its charged at a monthly rate, so the quicker i clear it the less it will cost me overall...
i've had the loan for 3 months.
you may get a rebate for the insurance if you pay it off.i did with my loan
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M4tt
Member
Registered: 18th Apr 03
Location: Potters Bar
User status: Offline
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oh, ill ring up for that then, i just feel like a mug paying for the insurance when i don't really need it -
if i lose my job it'll pay, but only if i get made reduntant - not sacked etc
illness - have to be ill for x amount of time, but i've never been ill and im sure if it did happen i'd be able to get some help from my not so help ful dad
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