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[lindag]

Can anyone tell me the difference between finance or a bank loan

 

[Trinity]

Finance tends to be specific for one thing - you get finance to purchase a car or a house etc. and the agreement is specific to that item.

For instance if you take out finance on a car - if you stop paying, they will come and take the car back.

A Bank loan is usually for any purpose and you can spend it on what you want, how you want. If you default, they'll take you to court etc. but they can't take away what you purchased with the money as it's yours to do with what you wish.

Does that make sense??? :o

 

[diesel1978]

You also pay a higher rate of interest with finance!!!!

 

[Sherry2k]

Sorry Diesel - I hate to disagree.

Bank Loans and Finance are much and such the same as per interest. Infact we got cheaper finance for my car than the bank was offering.

There are loads of websites that will tell you the best Bank and Finance rates.

Good Luck.

 

[lindag]

I got the finance for the car and it worked out cheeper than the bank by €8.11 a month and over the 5 years that a wopping €486 cheaper

 

[diesel1978]

HI Folks!!!
perhaps i am a little behind the times!!!!! Great to hear you got the car.....i bet you are really on a high.......
happy cruising!!!
amanda