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Hi all, i'm a newbie in dire need of a brain for figures. Can anyone help please..
I'm trying to help a family member out with some finance advice. I've just seen what i think is a good idea but i've got two little kiddies running round and my brain cogs have gone. I've forgotten how to do anything with percentages.. Right here goes..
The family member currently has car finance worth approx 10 thousand pounds. The apr is 7.8 % and she is paying approx 220 per month.. ( i think the loan is over 3 or 5 years)...
The deal i just saw was a balance transfer for 5.9% for the duration of the loan but with a 1 % handling fee..
If the balance transfer was worked out with the same amount of time, how much would she be saving per month?..
I hope this is clear enough.. Does anyone know how this finance stuff is worked out?
Thanks for looking..
Rachel.. (bosleygirl)
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