practitioner
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I am correct in saying you may get a loan from credit union and pay interest on the decreasing balance whereas with all other institutions, you pay the interest rate on the principle until the loan is cleared? i am thinking about a car loan as opposed to using savings and intend to cash in some shares after a period of time and pay down a sum against the loan.If I go to GE Money, will still be paying the interest rate on the principle until all pain off? I can get a 7.45% rate with them albeit highr with credit union. Maybe I wasn't able to understand or maybe I could not get the info, but I was left none the wiser having spoken to GE.