Anyone good with APR's?
- Thread starter conny
- Start date
Sponsored Links
If he saves up £400 in 6 months he will have a better telly than he can get now for £400 as they are just getting better and cheaper all the time. It's a better strategy to save for something where you can put away an amount of money you can afford rather than borrow money which you may not be able to afford to pay off.
I had a loan for a car once when I was younger and although I never missed a payment I would never do it again, the only thin I have borrowed money for since that is a mortgage and even then I made it as small as I could afford!
I had a loan for a car once when I was younger and although I never missed a payment I would never do it again, the only thin I have borrowed money for since that is a mortgage and even then I made it as small as I could afford!
How far was i out? can someone do it for me, my daughter gave me the answer.
1John, I know where you are coming from but he needs one now, keeps sitting in with us when he's at home. He likes his thing, wife likes hers and I like mine so much better if he gets one now.
Know where you are coming from regarding having the cash though. Thats the way wife and I work but it took us some years to be able to do it that way. Getting an insurance payout at the end of the month and that is going straight off the mortgage!
Sponsored Links
Good idea taking a wedge off the mortgage, I would love to have that oppertunity! It does sound like you are buying hima £400 telly as an early xmas pressie though 
there are alot of people willing to give away a 14" portable these days for nothing
there are alot of people willing to give away a 14" portable these days for nothing
M
Mickymoody
Round it up, £400 @ 20%, any primary school child can work that out, without the need of a calculator.
It'll depends on his age and credit status, but has he considered taking out a credit card to pay for it? If he can afford to pay it off in 6 monthly payments you can get 100s of cards which offer 0% for 9 - 12 months on new purchases - that way he'd pay no interest at all. And if he's worried about racking up debt on the card - just cut it up as soon as you've bought the TV??
M
malcolmX
I was told by my bank manager that the best way of getting a small loan was to go overdrawn assuming you had an authorised overdraft facility, far better than a fixed term loan, it worked for me.
M
malcolmX
Whenever I needed to buy a new machine costing in the region of £500 it worked out cheaper on the overdraft, not saying it would suit everyone but it worked for me, due to the type of work I do it meant I was in the bank every day putting in money which paid off my OD rapid with minimum interest charges.
Sponsored Links
