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Bit skint? Wanna raise some cash quick? Have no fear, look here!

Discussion in 'General Chat' started by Caesium, Jun 16, 2009.

  1. Caesium
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    Caesium My BM is fixed!

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    Check this site out;

    http://www.logbookloans.co.uk

    Scroll to the bottom to see what a bargain it is, although I think the .4% is the bit that put me over the edge....
    #1
  2. alijames
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    alijames Active Member

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    437% interest? Loan sharks charge less than that!!

    Cheers,
    #2
  3. Neilybabs
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    Neilybabs New Member

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    Same here I mean, how greedy can they be to put that .4% on ffs?!
    #3
  4. Nilz
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    Nilz Defo worth the wait :)

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    Phew!!!!!
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  5. Broken Byzan
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    Broken Byzan Photographic Moderator Staff Member Moderator

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    Where do i sign ???
    LOL
    #5
  6. fingermouse
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    fingermouse thats me

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    is that a joke site ????
    #6
  7. Road Razor
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    Road Razor Member

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    At APR of 437%, I entered £50k (loan amount) into a Loan & APR calculator just to see what results it returns:

    (3 years duration)
    Number of Monthly Repayments: 36
    Monthly Loan Repayment (£): £7,570.00
    Total amount to repay (£): £272,520.10
    Total Interest charged (£): £222,520.10 :bye:

    (Spread across 6 years)
    Number of Monthly Repayments: 72
    Monthly Loan Repayment (£): £7,521.54
    Total amount to repay (£): £541,550.84
    Total Interest charged (£): £491,550.84 :sign_omg:

    (Spread across 10 years)
    Number of Monthly Repayments: 120
    Monthly Loan Repayment (£): £7,521.23
    Total amount to repay (£): £902,547.31
    Total Interest charged (£): £852,547.31 :Flush:

    These are just approximate figures. But yeah that's just pure greed.
    #7
  8. jojo
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    jojo S3 Drift King! Staff Member Moderator

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    Hmm. I could borrow quite a bit with all the logbooks I got lying around! :)
    #8
  9. lil_coz
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    lil_coz Active Member

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    I think its a typo. They accidently pressed 4 and 3 before putting in 7.4%. Either that, or they wanted to be REALLY accurate and they just put the decimal point in the wrong position. It's really 4.374%




    You don't want to be missing any payments would you!? :slapped:
    #9

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