Could You Save £1,500 on Garden Furniture?

Posted on Feb 26, 2025

With warmer weather just around the corner, it’s time to spruce up your outside space ready for those summer nights. There really is nothing like kicking back and relaxing on your garden furniture, soaking up the British sunshine with your feet up on comfortable outdoors chairs, and dining al fresco!

Shopping for quality garden furniture is no small task. With hundreds of options at your fingertips, it can be difficult to know where to start with your garden makeover.

Before you make a big purchase, make sure you’re not paying through the nose. Let’s take a look at how much you could save with our Personal and Advantage Loans compared to if you used a typical credit card to glam up your garden. Let’s compare this 8 seater garden dining set costing £2,999.

Personal Loan – No Savings? No problem!

No savings with Penny Post? No problem! Borrow up to £10,000 with our flexible Personal Loan at competitive interest rates.

A £3,000 Penny Post Personal Loan, repaid over 36 months at just 21.9% fixed APR will cost £111.49 a month.

Now let’s compare this to a typical credit card at 29.4% APR.

Using Uswitch’s Credit Card Calculator keeping monthly repayments at £111.49 (the same as the Penny Post Personal Loan), total interest is more than £1,500! By opting for a Personal Loan with Penny Post, you could save yourself £555 in interest AND you’ll have repaid your loan 6 months quicker, compared to with the typical credit card!

Advantage Loan – Borrow up to 5x your savings!

If you have £600 in savings, you could borrow up to £3,000 at just 10.9% APR.

A £3,000 Penny Post Advantage Loan repaid over 36 months at 10.9% fixed APR will cost £97.37 a month.

Now let’s compare this to a typical credit card 29.4%.

Using Uswitch’s Credit Card Calculator keeping monthly repayments at £97.37 a month (the same as the Penny Post’s Advantage Loan), total interest is over £2,000! As your repayment amount reduces, the total interest will increase as it’ll take you longer to repay your credit card debt.

Choosing a Penny Post Advantage Loan could save you over £1,500 in interest and you’ll have repaid your loan 16 months quicker than if you opted for the typical credit card.

And, as with all Penny Post loans, interest is charged on a reducing balance so you may be saving even more!

What is the difference between fixed and representative APR?

Many high street lenders use representative rates, but what does this really mean? When you see a bank advertise representative rates, this means only 51% of more of customers receive this rate, but the other 49% are paying more than advertised!

At Penny Post, all our APR’s are fixed, meaning the rate you see is the rate you get!