Warrior General Games

Hi,

I'm looking to find out when the £1.5m loan needs to be repaid. If I remember correctly part will come off automatically after so many days??

Thanks

Be careful. I don't think it's automatic as missing a payment twice can force the league to repo your team. Just check every day or so and make sure you have enough for each payment. It should be around 444,000 per payment every ten days or so.

Originally posted by 19jf
Hi,

I'm looking to find out when the £1.5m loan needs to be repaid. If I remember correctly part will come off automatically after so many days??

Thanks


Correct. The payments will come out automatically, though you do have to make sure you have enough cash on-hand to cover the payments. I think the Loan screen will show you the payment schedule.

However, your real goal should be to get the loan paid back in full before the first payment comes due. Then you won't have to pay any interest. And that's a BIG help, because the interest rate is kinda high. Might as well avoid it if you can, right?

GLB does loans?

Guessing this is some sort of ownership fake money loan thing.

Originally posted by Robert Fripp
GLB does loans?

Guessing this is some sort of ownership fake money loan thing.

Correct.

Just pay off the loan when you have accrued 1.5 million again. That way you avoid the interest.

Originally posted by Novus
However, your real goal should be to get the loan paid back in full before the first payment comes due. Then you won't have to pay any interest. And that's a BIG help, because the interest rate is kinda high. Might as well avoid it if you can, right?

Originally posted by InRomoWeTrust
Just pay off the loan when you have accrued 1.5 million again. That way you avoid the interest.

See? Romo and I agree. It MUST be correct.

Originally posted by El Retré
Be careful. I don't think it's automatic

Incorrect. It is automatic.

Originally posted by Robert Fripp
GLB does loans?

Guessing this is some sort of ownership fake money loan thing.

No it's real money, they loan you up to $500, even if you have bad credit, and it's only a small interest rate on 48%, on top of the low monthly fee of $34.99

Thanks for all the contributions. Still looking for the definitive answer if anyone knows.

It will come out automatically. You just need to make sure that the team has the money to make the payment.



However..........

It IS much better to pay it off as soon as you have the 1.5 million from ticket sales. You save alot that way.... plus you won't have to worry about the chance of missing a payment. You should have enough from ticket sales to pay it off after a day or two. After that, you will still make money from ticket sales.

Originally posted by 19jf
Thanks for all the contributions. Still looking for the definitive answer if anyone knows.

You have the definitive answer, silly.

Originally posted by Novus
Correct. The payments will come out automatically, though you do have to make sure you have enough cash on-hand to cover the payments. I think the Loan screen will show you the payment schedule.

Originally posted by whodey08
It is automatic.

Originally posted by MarBro456
It will come out automatically. You just need to make sure that the team has the money to make the payment.

But you will want to pay it off as early as possible to avoid the interest rates. Just like in real life.

Stop that.