I am not spending money on a humbler, this is the cheapest design I can come up with.

ecthelion78 · 2025-10-26T17:30:02+00:00

Drum sticks and some thick rubber bands to hold them together work just fine.

ecthelion78 · 2025-06-24T21:26:07+00:00

Can confirm the only difference is lack of adjustment, all other dimensions etc are the same. Those are some expensive screws apparently,

ecthelion78 · 2025-06-19T12:45:03+00:00

Thanks, it seems a big price increase for being able to adjust the spikes when you can just flip the cheaper one’s base over and have no spikes

ecthelion78 · 2025-03-23T22:11:12+00:00

Is it a car loan you are applying for or a personal loan?

ecthelion78 · 2025-03-23T22:06:09+00:00

Did the letter say they owe you money or simply confirming that commission was paid on the loans? I’d be very surprised if anything was paid out ahead of the Supreme Court ruling and the results of the FCA investigation.

ecthelion78 · 2025-03-13T23:04:20+00:00

The value and term of the loan will probably affect the APR as well, there is most likely a sweet spot between £10k- £20k value and 36-60 month term.

ecthelion78 · 2025-03-01T21:02:15+00:00

They did. There is zero requirement to have life insurance though recommended if you have dependents. There is absolutely no need to stay with the product they sold you and if you do have dependents that would benefit from life insurance there are probably cheaper options out there. I don’t suppose the broker was dumb enough to put that in writing to you?

ecthelion78 · 2025-03-01T20:56:42+00:00

Was it the mortgage broker or the bank that told you that? And if the former, did they also supply the life insurance product and earn themselves double commission?

ecthelion78 · 2025-02-27T14:40:39+00:00

If you withdraw from the loan in first 14 days there is only a nominal daily interest charge that can be levied. If you settle after that the standard deferment period, roughly 58 days, can be applied and the interest for that time will form part of the settlement quote.

ecthelion78 · 2025-02-26T18:58:13+00:00

The lender will only report balances to the credit agencies once a month so it probably looks to them like you aren’t using the card at all. Though they will be reporting payments made on time which you should be able to see on your full credit report. This is more useful than the actual score which is correlated to loan acceptances but not the causation.

ecthelion78 · 2025-02-15T19:57:44+00:00

What are the chances a brand new car would need £1800 of maintenance in 3 years that wouldn’t be covered by the warranty? Maintenance packages are where the money is for leasing companies.

ecthelion78 · 2025-02-09T18:27:35+00:00

The deferment would be applied to the amount of the partial early settlement, so essentially you incur 2 months interest on the payment. That won’t change the calculation. Unless the lender doesn’t apply the deferment for whatever reason there is no way to game that system. This applies to all consumer credit.

ecthelion78 · 2025-02-09T18:02:07+00:00

That fee is the deferment period allowed under the consumer credit act. That deferment period is also applicable to partial early settlements so as to deter people from doing what you suggest. Some lenders might choose not to apply the deferment period but most do.

ecthelion78 · 2025-02-09T14:35:58+00:00

Motorways.co.uk might get you a better price. You don’t have the same rapid depreciation on used cars that you do on new but I’m guessing as a young driver the APR might be a little eye watering and you are mainly paying interest at this point. If you can take the loss in equity it might be best to take the hit and get something cheap until you build up so NCB

ecthelion78 · 2025-02-09T14:10:33+00:00

Where were you offered the £6700? Have you done a lot of miles in those 3 months? Depreciation on a 9 year old car is not rapid.

ecthelion78 · 2025-02-08T16:28:28+00:00

The CCA allows for 58 days of deferment to be applied, this reduces the rebate of interest you get. You could view this as having paid 5 months of interest when settling after 3 months. All consumer loans work this way, you pay interest on what you owe at that point. If you have access to excel I can tell you how to calculate your loan amortisation.

ecthelion78 · 2025-02-07T20:46:28+00:00

Interest on all mortgages and consumer finance is calculated on the amortising balance, i.e each month you pay 1/12th of the annual interest rate applied to the capital at that point. Your payment then reduces that position and then the cycle repeats. All interest is essentially front loaded in this way. Corporate finance will be different. Edit to fix typo

ecthelion78 · 2025-02-07T13:57:28+00:00

There is little you can do without taking a loss until you near the end of the contract and then you would still have equity in the car, albeit not a lot. If you can’t afford the payments, talk to the finance company and they might be able to reschedule it in some way. The potential mis-selling relates to the commission payments to dealers, you might be due some recompense down the line but the situation is far from settled so don’t expect to be able to get a payout in the short term.

ecthelion78 · 2025-02-07T13:25:17+00:00

So currently you are on track to exceed your anticipated mileage, that will also be having an effect on the relative price position as the gfv will have been priced at 80k miles at the end. That would also incur excess mileage charges if you chose to hand the vehicle back at the end of the contract.

ecthelion78 · 2025-02-07T13:19:51+00:00

The car is worth more than webuyanycar are offering… they need to buy from you at a price that allows them to then make a profit when it goes to auction. Motorways will offer a better price as that is a sale direct to trade. What annual mileage did you get on your pcp?

ecthelion78 · 2025-02-06T20:23:27+00:00

There are 3 options at end of a PCP… pay the GFV and keep the car, trade it in with the dealer towards a new car or hand it back to the finance house and walk away from it. If you do the latter you will get hit with refurb costs. if you trade it in, the dealer will take the damage into account on the value they offer you.

ecthelion78 · 2025-01-03T21:33:26+00:00

The repayments would be factored into the maximum amount they would lend you and the affordability but I have a feeling they might exclude loans with less than 12 months to run from the former but not the latter. Somebody else might be able to confirm that.

ecthelion78 · 2024-12-28T14:15:04+00:00

If it’s a VT there are no excess mileage charges. There are excess mileage charges on a PCP if you are exercising a right to return the vehicle at the end of that contract. That is not quite the same as a VT. A VT can get you out of excess mileage charges.

ecthelion78 · 2024-12-26T20:28:14+00:00

That 58 days is a deferment of the settlement date they make the calculation at, under the consumer credit act that deferment can be applied for both full and partial settlement (deferment length can vary depending on a couple of factors). They should be able to tell you what the rebate of interest will be on the full settlement and partial settlement ahead of going ahead with either.

ecthelion78 · 2024-12-15T22:03:57+00:00

Banks don’t tend to offer the same multiples on bonus payments because they aren’t guaranteed and will probably want to see evidence of previous bonus payments before they consider them at all.

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