RE: Martin Lewis6 Feb 2024 17:44
Many years ago (when in my 20s) I'd a friend who sold cars for VW. I had a conversation with him about a car I was buying on finance, which Im probably not recalling exactly correctly but its more the principle. I'm fairly sure, even with a percentage added, the rate was still lower than anything else I could get, e.g car finance 2.9%, 4.9% to me, however, if i had a bank loan it would have been 6.9% or higher with a 'dodgy' lender! It was therefore worth paying the 2% extra (assuming how the interest was calculated and applied was on a 'like for like' basis)