Quick Loan Question

[LiE]

If I get approved for a loan, but then decide to cancel in the 14 day period, do you simply pay back the amount borrowed or the total including interest?

For example
Borrow: £5,000
Total cost over 3 years: £5,653.59

The terms say: you must repay the whole loan amount (including interest charged, but not the Borrower Fee);

So would you pay back £5,000 or £5,653.59?

Thanks.

 

[DBT85]

you'd pay back the 5 grand plus any interested incurred for the days you borrowed it. So not just the 5k, and not the full amount that you would have been expected to pay.

 

[LiE]

Cheers.

 

[jas72]

Wasn't there a cheeky joke about that that someone put their Car as collateral for a loan and the bank kept the car for a month which worked out cheaper than using secure parking?

 

[Mr Jack]

Wasn't there a cheeky joke about that that someone put their Car as collateral for a loan and the bank kept the car for a month which worked out cheaper than using secure parking?

Yeah, one of the best blonde jokes, imo.

 

[[FnG]magnolia]

Yeah, one of the best blonde jokes, imo.