David Posted July 17, 2008 Report Share Posted July 17, 2008 Hey everyone, If I were to take an agreement out with say black horse finance for 12months or so and I wanted to pay it off early in a lump sump is this possible? I have heard there may be a charge to do this (Which sounds crazy). Any info on how much or if its possible?Thanks,Dave Quote Link to comment Share on other sites More sharing options...
Extreme_biker0 Posted July 17, 2008 Report Share Posted July 17, 2008 Hey everyone, If I were to take an agreement out with say black horse finance for 12months or so and I wanted to pay it off early in a lump sump is this possible? I have heard there may be a charge to do this (Which sounds crazy). Any info on how much or if its possible?Thanks,DaveSometimes there is a fee for early repayment, sometimes there is not; there is no answer. You have to check the terms of the agreement.You have to get in touch with them and ask for a 'balance of repayment' quote or some such like, and they will send you out a letter saying something along the lines of 'to fully pay off the balance owed to us please send a cheque for £3,589.34. This offer is valid for 30 days from the date of this letter'.One thing they wont do is refund any interest, so for all it's worth you might as well hold onto the money and just make sure you meet the repayments. Quote Link to comment Share on other sites More sharing options...
David Posted July 17, 2008 Author Report Share Posted July 17, 2008 Sometimes there is a fee for early repayment, sometimes there is not; there is no answer. You have to check the terms of the agreement.You have to get in touch with them and ask for a 'balance of repayment' quote or some such like, and they will send you out a letter saying something along the lines of 'to fully pay off the balance owed to us please send a cheque for £3,589.34. This offer is valid for 30 days from the date of this letter'.One thing they wont do is refund any interest, so for all it's worth you might as well hold onto the money and just make sure you meet the repayments.Cheers! Quote Link to comment Share on other sites More sharing options...
Mr Motivator Posted July 17, 2008 Report Share Posted July 17, 2008 I work at a Black Horse Finance approved dealer, if you're really interested I can find out propperly if you like? Quote Link to comment Share on other sites More sharing options...
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