MINI2 - MINI Forum - View Single Post - PCP / Mini Select = High interest rate con ???

Scrogg · Apr 30th, 2007, 10:06 AM

Quote: Originally Posted by SteveBrass (original)

The point of the APR is that is reflects the true rate of interest you are paying on a loan.

I tried so hard to steer this thread away from this, but seem to have failed miserably so, go on then, how?

Assume borrowing £10k over 5 years at 7.9% APR. How much interest will I pay?

Apr 30th, 2007, 10:06 AM	#10
Scrogg Extra 3 Inches Join Date: Jul 2006 Location: Gloucester Local Time: 08:32 PM Posts: 16,029 Offline	Quote: Originally Posted by SteveBrass (original) The point of the APR is that is reflects the true rate of interest you are paying on a loan. I tried so hard to steer this thread away from this, but seem to have failed miserably so, go on then, how? Assume borrowing £10k over 5 years at 7.9% APR. How much interest will I pay? 30