Pivot - FYI repaying a loan early does not necessarily improve your credit rating and can, in fact, harm it with some lenders as they are not seeing the return they anticipated when you took out the loan. That being said I nearly always repay loans early unless they are "interest free".Pivot wrote: ↑Wed Aug 21, 2019 2:15 pmDitto!PaulR wrote:It will be no surprise to you that I always buy my phones cash. For the same reason as my car - I'm tight and want my TCO to be the absolute minimum possible! I hate when people say they're 'due a new phone'. You're not 'due' one as you could always keep the one you've got and save yourself some cash. Now people say the same about cars - that they're due a new one. No one's due anything!!
I financed 50% of my car on HP to improve my credit rating, but I will repay it faster, which should improve it further.
That should enable me to refinance my house at a better rate.
Tip: if buying on interest free always ask if there is a deal for cash. Most sales people are not aware that they would then have to offer the same deal on interest free.