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OnMyWayOut

finance to buy a car and PPI Calculation to work out interest rate/APR

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I had a finance to buy a car several years ago that I'm looking into relating to PPI.  At the moment I have the figures used for the loan but not yet found a copy of the CCA - this goes back to the 90's.  The PPI claim is already in, but I want to be able to check their calculations when they respond.

 

I know the amount financed, the PPI charge, admin fee, interest charge, monthly payment and number of payments.  The admin fee was added to the first payment of 36.  Is there a formula that lets you work out the interest rate given the information I have?

 

I can provide real (or close enough) figures if necessary, but just need to know if there's a way to work it out using the pieces of information I have.

 

Thanks,

OMWO.

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see below. in my sig.

 

and the spreadsheet you want is statint sheet

 

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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