Settling a Loan

[RobbieB]

Just after some quick advice.

I have a loan settlement for about £3500. I have £2200 sitting in the bank and will be getting the rest of the money shortly.

Somebody told me that if I pay £2200 off now, then pay the rest off seperately I will pay less. Is there any truth to this? Is there a better way or should I just pay it all off in one lump?

Cheers

[JacksHereR]

depends... last loan i had took the bulk of the interest up front rather than it reducing the loan.. so made more sense to continue the payments as i had already paid for the interest for the loan.