Dispatches, Christmas on Credit. Watch it on 4OD

wageslave

abaxas wrote: »

You could buy a 2nd hand one, then start saving your £7 a week. Then when that breaks, you have money.

Well that sounds like a really good idea until you actually think about it.

Where are you going to find a reliable second hand washing machine? Most people dont replace their electrical goods until they are pretty much clapped out.

And if you do happen across this miracle machine it is hardly likely to cost the twenty or thirty quid you have in your purse.

There is no reason for credit apart from large purchases, if there is, it's becasue people are stupid.

My idea of a large purchase might not be the same as yours. It all comes down to disposable income.

Maybe we are too scared that lots of us are stupid?

I wouldn't exactly say that I am frightened that the majority of people in the world are stupid.

Resigned to the unpalatable truth is more the phrase I would use

lostinrates

wageslave wrote: »

Well that sounds like a really good idea until you actually think about it.

Where are you going to find a reliable second hand washing machine? Most people dont replace their electrical goods until they are pretty much clapped out.

Our tv repair erson sells second hand tvs, and the electrical goods independant in nearest town sells second hand washers/cookers. I have bought second hand cookers in the ast, both for myself and as really weird but needed gifts.

Incidently I also swapped my dishwasher for a really lovely duvet:o

eta: I think its less likely now though: aliances do not seem to last as long.

abaxas

wageslave wrote: »

Well that sounds like a really good idea until you actually think about it.

Where are you going to find a reliable second hand washing machine? Most people dont replace their electrical goods until they are pretty much clapped out.

And if you do happen across this miracle machine it is hardly likely to cost the twenty or thirty quid you have in your purse.
My idea of a large purchase might not be the same as yours. It all comes down to disposable income.
I wouldn't exactly say that I am frightened that the majority of people in the world are stupid.

Resigned to the unpalatable truth is more the phrase I would use

I still dont see any reason for credit, live like a pauper for a few months and get something saved.

lostinrates

abaxas wrote: »

I still dont see any reason for credit, live like a pauper for a few months and get something saved.

Have no food and clean clothes for kids? Enter DSS I imagine.

Have no clean clothes for work? Exit with P45

abaxas

lostinrates wrote: »

Have no food and clean clothes for kids? Enter DSS I imagine.

Have no clean clothes for work? Exit with P45

Buy all your tat at Sh1tehouse and have no money for food. Give kids directly to DSS, do not pass tac dealer, do not collect 1/4 ounce.

wageslave

lostinrates wrote: »

Our tv repair erson sells second hand tvs, and the electrical goods independant in nearest town sells second hand washers/cookers. I have bought second hand cookers in the ast, both for myself and as really weird but needed gifts.

Incidently I also swapped my dishwasher for a really lovely duvet:o

eta: I think its less likely now though: aliances do not seem to last as long.

A reconditioned washing machine with a three month warranty, six months if you are lucky, costs what? Probably not much change from a hundred quid. Brand new Samsung washer with a two year warranty £170ish.

Off course you can get lucky and pick up a decent second hand fridge or whatever but if it doesn't last five minutes you are worse off than when you started.

People with limited resources cant afford to gamble.

I dont like companies like Bright House but in all honesty I cant see a huge difference between them and Currys or DFS or a dozen other retailers I could mention.

abaxas

wageslave wrote: »

A reconditioned washing machine with a three month warranty, six months if you are lucky, costs what? Probably not much change from a hundred quid. Brand new Samsung washer with a two year warranty £170ish.

Off course you can get lucky and pick up a decent second hand fridge or whatever but if it doesn't last five minutes you are worse off than when you started.

People with limited resources cant afford to gamble.

I dont like companies like Bright House but in all honesty I cant see a huge difference between them and Currys or DFS or a dozen other retailers I could mention.

Good point.

170/7=25 weeks of saving and the washer is yours and by the time it breaks, you'll have plenty money for the next one.

LilacPixie

To me a washing machine is a large purchase. Ours broke in september and it cost just under £500 to replace. I opted for a mid range model nothing flash just a typical machine with a big drum and decent spin. Never underestimate the amount of washing kids create.

I really don't think those on a low income have that sort of money availible to buy a machine outright, living like a pauper for a few months may be an option but is unlikely to raise the funds required plus what do they do for the 2-3 months it takes to save up?

lemonjelly

wageslave wrote: »

A quick look at Currys website shows that 29.9% APR seems to be par for the course for in- store finance. They offer a six months interest free option period if you spend over £250 but you are actually signing up to a four year agreement. Owe one single penny when the IFO period ends and you are locked in.

I would imagine they are just so grateful to be getting the washing machine/sofa/whatever they dont feel they are in a position to argue.

I very much doubt that, when it comes to optional warranties, sharp selling practices and slick talking is confined exclusively to Bright House.

I have never even seen a Bright House store let alone been in one but I would bet you my last tenner that Bright House pays its staff minimum wage plus commission on insurances and warranties.

Agree with all you say wageslave.

Thing is, it is people who tend to have little option other than such sources of credit who shop there.

I was trying to say in an earlier post that budgeting is an issue, & for people on lower incomes, catalogues etc provide a valuable service.

abaxas

LilacPixie wrote: »

To me a washing machine is a large purchase. Ours broke in september and it cost just under £500 to replace. I opted for a mid range model nothing flash just a typical machine with a big drum and decent spin. Never underestimate the amount of washing kids create.

I really don't think those on a low income have that sort of money availible to buy a machine outright, living like a pauper for a few months may be an option but is unlikely to raise the funds required plus what do they do for the 2-3 months it takes to save up?

Option 2 - getting help from neighbours/family.