On the never never, no interest.

Sweey_as_a_nut

I got into debt first time for over thirty years to day.
I bought a Brompton folding cycle, cost £1,290. It works out at £290 deposit, and £1,000 left to pay at £41.66 per month over 24 months. The final price is £1,290 no interest to pay, I was going to pay cash down until I seen this deal, can't go wrong.

Ralph.

chalkie99

Debateable.

There is no such thing as interest free credit really -if you had the cash you could almost certainly have negotiated a better deal and interest rates mean you are probably not making much by investing your cash.

Not criticising though - a lot better than many here who are squandering fortunes on cars they cannot afford.

chalkie99

Brock_Landers wrote: »

Unfortunately, that is no longer the case. In this day and age retailers want people to purchase stuff on finance as they get a comission! Boring old cash doesn't do them any favours and they certainly won't give discounts for paying in cash!

First time I noticed this change was when purchasing a 2nd hand car from a Ford dealership back in 1996. The price I 'negotiated' was approx 4k...then I offered to pay in cash and the price jumped up by over 300 quid because I wasn't taking the finance??? I should have walked but the being the dimwit I am I stumped up the extra 300!

Not true.

Dealer is likely to be offering interest free as an incentive to buy and someone, somewhere, has to pay for it. Was a 2nd hand car on interest free? Probably not and the dealer is then trying to push their own finance where they will, indeed charging over the odds for commission.

Most retailers will haggle and I always save up for what I want and negoiate a deal, even with chain stores like Halfords and Comet.

CLAPTON

Sweey_as_a_nut wrote: »

I got into debt first time for over thirty years to day.
I bought a Brompton folding cycle, cost £1,290. It works out at £290 deposit, and £1,000 left to pay at £41.66 per month over 24 months. The final price is £1,290 no interest to pay, I was going to pay cash down until I seen this deal, can't go wrong.

Ralph.

whats the full spec of the bike
then we can google it and see comparative selling prices

clarence83_2

Brompton's are SUCH rip offs, just status symbols really. I use one from capital cycles for my commute. It cost me £50 BRAND NEW including postage!!!

Sweey_as_a_nut

I know Brompton keeps it's dealers on a tight leach, no undercutting allowed.
Clarence83 where did you get it that price? I should have consulted you first.
About the speck, it's the M type Titanium bits, 6 speed, with a front bag and rear rack, a bike bag, and a few more odds and ends I know I could have saved a small amount by getting some of the parts from other places. However count the postage and messing about and there is not much in it.
I know the weight saving is not a lot. Seeing as I am over 70 every little helps, dew, I sound like Tesco.
There is one downside to the deal, I have to wait until November to get my hands on it.
Brompton is a good British success, pity they won't employ more people.

Ralph.

Sweey_as_a_nut

Reading what you wrote chalkie99.
I asked who is offering the interest free deal, And the shop keeper said it's Loyds and went on to explain that they pay enough to Loyds to keep them happy. Soo if I had said to the shop give me half of what Loyds is getting, I could have saved. Anyone care to give a estamate how much they have to give to Loyds.
As I can still cancell the order, However it will cost me £30.

Ralph.

david39

If a retailer advertises "Interest Free Credit" on an item then that is exactly what it has to be.

If the retailer then sells the article at a lower price for cash then he has broken the advertising standards rules because he has charged the credit buyer a higher price than the cash customer. He has therefore charged for credit, so it is no longer interest free.

Trading Standards Officers police this quite seriously.

needaspirin

Read the small print on your agreement. It will probably say that it is interest free only if you make the payments on time. If so make sure that you don't miss a payment and allow for delays in banking transfer.