A longer contract may mean cheaper monthly repayments, but you’ll pay dearly if you opt to cancel early. The Consumer Protection Act (CPA) aimed to put an end to consumers being “locked into” contracts from which there was no escape for several years.
The first draft of the regulations gave consumers the right to escape any fixed contract, such as a cellphone, gym or home security contract – by giving 20 days’ written notice of cancellation at any time – and paying just 10 percent of the remaining subscriptions.
What’s the main thing you look for on a food label? UK research reveals that consumers’ most sought-after piece of information is the “sell by” or “best before” date, followed by country of origin.
That the latter is of such significance to so many is probably no surprise in the wake of the international food scandals to hit the headlines in recent years, most notably the horsemeat scandal of last year.
Want a car you can’t really afford? The motor finance industry has just the thing – a balloon payment deal.
So instead of spreading your instalments over your finance period – five years, say – the car finance bank carves off a big chunk of the total amount owing, and “parks” it until you’ve paid off the amount you can actually afford to finance.