I can't agree more with the review by John Hindle, Greenwoods charges some of the highest interest rates about. Before I took out a cash loan I did some research into interest charges and I hope some one will find this info helpful Based on a £500 cash loan
Greenwoods was the highest £500 loan interest is £300 making the total repayable £800 at £25 per week with an APR of 399.7%
Next was Shop-a-Check a £500 loan interest is £384 making the total repayable £884 at £17 per week with an APR of 246.5%
Then came Provident (who owns Greenwoods by the way) a £500 loan interest is £325 making the total repayable £825 at £15 per week with an APR of 177.1%
One of the lowest but still quite expensive was Universal cash loans a £500 loan interest of £220 making the total repayable £720 with an APR of 128.2%
The difference between the highest ,shop-a-check and the lowest Universal is an incredible £164, bearing in mind all these companies offer the same service so why the difference in cost is anyones guess.
I hope this info is useful for some choosing a cash loan
If anyone is looking for a cash loan and is considering Greenwoods I hope this information will help and if and anyone has had any dealings with any of these companies I would like to hear your comments.
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WOW APR 220.9% how can i resist? I don't know how you got an APR of 220.9% as Greenwoods only offer a 32 weeks account, visit their website and see for yourself! surely you are not that naive that you think you can keep the interest the same but stretch the term from 32 to 55 weeks to get a lower APR? Do you work for Greenwoods? you seem to be the only person i know that would defend their APR?
blondeindiguise 11.06.2008 00:18
You may not be aware that you have not quoted like for like. You quoted over 32 weeks for greenwoods, but over 52 and 55 weeks for shopacheck and provident respectively. You will find that over 55 weeks the greenwoods apr is only 220.9% and NOT 399.7% as you say. VERY misleading!
HotBabes 26.09.2007 19:13
Sorry for the lower rate but the review really tells me very little about Greenwoods overall. :-)
Advantages: Loans For Lower Class People (in Greenwoods eyes) Disadvantages: Bullying idiot collectors who think they collect for the mafia, over 300% interest
Advantages: Loans For Lower Class People (in Greenwoods eyes) Disadvantages: Bullying idiot collectors who think they collect for the mafia, over 300% interest
Sep 26th, 2007
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