What if I take out a loan and then
pay it off in the first month?
To settle a £1000 loan after one month you would pay just £1,161.
£1,161 = £1,000 plus arrangement fee £75 plus one month interest £86
pay it off in the first month?
To settle a £1000 loan after one month you would pay just £1,161.
£1,161 = £1,000 plus arrangement fee £75 plus one month interest £86
What does it cost?
We offer the cheapest logbook loans in
Greater Manchester*
Our charges
Only 8% interest per month
£75 arrangement fee payable at the end of the loan
No charges for early settlement
Here is a typical loan
Loan amount = £1000
5 monthly payments of £86 and 1 final payment of £1161
term of loan = 6 months
arrangement fee = £75
APR = 199%
TYPICAL APR 199%
Please shop around and compare our interest rates with other lenders in Greater Manchester. Most lenders offer logbook loans at 10% per month (we charge 8%). Our arrangement fee is a flat
rate
£75. Some others charge higher arrangement fees.
* based on typical £1000 loan in October 2009