Finance Question

[pcman12]

I think I have mucked up here.
I have missed the early repayment option by one day, where I could have paid off £400 and have settled the deal.
Does this mean that the total price I have to pay off has now skyrocketed ?
Absolute idiot that I am, I got the days mixed up thought it was the 11th not the 9th!
Any help ?

 

[keynes]

Not much you can do. If you missed the deadline you have to pay more.

 

[Rakk]

Looking at the finance terms it says:

As part of the package you have the option to settle the remaining balance in full at any point during the first 12 months and no interest will be charged - you will only need to pay off the remaining balance.

If you have not settled the remaining balance during the first twelve months, your monthly repayments will continue for a further three years and the total balance payable will include interest.

So you may now be tied to paying off the full interest amount over the next 3 years.
I do not know if you are now allowed to pay it off earlier than in the next 3 years, you will probably have to contact Hitachi to see if you can or not, but even if you can, I suspect you will be charged some if not all of the interest specified.

 

[nathanjrb]

You are allowed to pay off early, but there is a £29 fee.

Oh, and you would have to pay the full amount with interest included if you have missed the deadline (I think...)

 

[pcman12]

Doesn't look good. Thanks for the help though guys.
Next time I will be sure to pay it off well in advance so this doesn't happen again!