Not necessarily, Kev, especially for Motorhomes and similar large items where the Banks traditionally limited the loan period to 60 months [though I think they have relaxed this criterion recently]; also, the Banks charge penalty fees for early settlement, whereas Black Horse give a rebate. Nationwide announced a relaxation of the 60 months max repayment period a couple of months ago, [and increased the maximum loan to £50,000, IIRC], but indicated that the longer term loans/higher borrowing [and one iinvariably follows the other] would be at a much higher APR than the headline rate advertised
I’ve had a few vans and pickups for work on finance since 2007. Ive counted 8 all straight Hp and a couple of cars and a chunk on the motorhome just the way I do business use there money. None were on lease or balloon payment all about 50% deposits and vat up front. Keep seeing this but don’t trust some of the companies advertising to claim on my behalf. I got about 18k back from the PPI stuff. So maybe another wee bonus.
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