Clutch Dead - possibly

[peanut]

[/quote]

Ocean finance? [8D]

Peanut, you either were paying faaar to much interest in the first place, or you've extended the term of the new loan by a fair amount. (Or both)
[/quote]

No nothing like that. Very few people understand the black art of finance.

Say you take out a 5 year loan of £10,000 with repayments of £250 per month

After 3 years you have paid off say £6,000 .

This means you are currently paying a £250 premium for a £4000 loan!

If you refinanced that loan over 5 years and extended say to £5500 . You would then have £1500 to either clear other debts or spend and your monthly repayments will drop to around say £125.00 ,a monthly saving of over £100 plus some useful cash. See [] .
plus the interest rates are a lot cheaper now than they might have been when you took the original loan out 3 years ago which was the case for me

 

[Dico]

I've just spat my cornflakes over my keyboard!

Peanut you're far ahead of me on this one. []

 

[morris944s2john]

I don't have any loans at all (Mortgage is the only thing I owe). I live on the policy of if I dont have the money then I dont buy it. Even my S2 was bought with cash in 1996 (well actually bankers draft, but I had the money).

 

[andymorris]

Its not the money side thats made me decide to sell. Its the practicallities of owning three vehicles and really only getting time to drive the one Porsche every now and then so I shall keep the S2 cab and sell the other S2. Which owes me about £11k and I know I will only recoup half of that if Im lucky.

Re the rubber donut - I was giving it some off a roundabout[] but I promise I didnt have my Burberry hat and scarf on at the time ! Nor were the speaqkers popping out the doors to Drum N Bass ![:-]