Brighthouse Store Confused!

stugib

wealdroam wrote: »

From their website...

'Representative' being the key word there!

NeilF3485

daisyduke1 wrote: »

The APR is 29.9%

This is what it says on yearly statement.
Total amount of Credit £304.88, Rate of interest 29.9% per annum, Duration 148 weeks. Total amount payable £432.16 to be paid at £2.92.

The Agreement i signed says. cash price for TV £305.53

I pay £5.16 a week as there is optional service cover at £1.57 and damage cover at 0.67. so 2.99 add the covers brings it to my weekly payments of £5.16 so this bit is correct. everything elses doenst add up.

£432.16 + £331.52 (2.24*148) = £763.68

My original question still stands - did they increase VAT on the outstanding balance at the turn of the year?

stugib

daisyduke1 wrote: »

The APR is 29.9%

This is what it says on yearly statement.
Total amount of Credit £304.88, Rate of interest 29.9% per annum, Duration 148 weeks. Total amount payable £432.16 to be paid at £2.92.

The Agreement i signed says. cash price for TV £305.53

I pay £5.16 a week as there is optional service cover at £1.57 and damage cover at 0.67. so 2.99 add the covers brings it to my weekly payments of £5.16 so this bit is correct. everything elses doenst add up.

So you're paying:

£2.92 * 148 = £432.16 for the £304.88 TV.
+
£2.24 * 148 = £331.52 for the service/damage cover
=
£736.88 in total over the 148 weeks.

Which bit doesn't add up, apart from the few weeks difference which may be an error?

daisyduke1

NeilF3485 wrote: »

£432.16 + £331.52 (2.24*148) = £763.68

My original question still stands - did they increase VAT on the outstanding balance at the turn of the year?

You are not reading what i said. I started paying on septemeber 2008 and dont finish paying until september this year. now im not stupid but there is 52 weeks in a year. so this would mean i would paying more than 148 weeks. well if they have increased it im not aware of it. as i only get a statement once a year from them and wont be due one this year as finish paying (meant to in September). They dont tell you anything when you pay in shop or over the phone. My weekly payments have always remained the same.

Caz3121

daisyduke1 wrote: »

Now forgive me for my language but they are taking the pi$$ All together for a portable used TV is £763.68.

from your post you are paying a total of £432.16 for the tv
in addition you are paying around £99 for accidental damage and around £232 for service...I am guessing if you had realised what the minimal payments for these had been at the outset you may not have opted to take them. Do you have the contracts for them...they maybe run over a longer term

daisyduke1

stugib wrote: »

So you're paying:

£2.92 * 148 = £432.16 for the £304.88 TV.
+
£2.24 * 148 = £331.52 for the service/damage cover
=
£736.88 in total over the 148 weeks.

Which bit doesn't add up, apart from the few weeks difference which may be an error?

Thats exactly what doesnt add up. the weeks and the amount. Lol 52 weeks in a year. paying from Sep 2008 until sep2011 thats not 148weeks at 5.16 a week for a TV that amount too £763.68

So as the people in shop say this is correct which is not.
Do i phone head office. like i said obviously the people who work in my shop dont know anything.

stugib

daisyduke1 wrote: »

Thats exactly what doesnt add up. the weeks and the amount. Lol 52 weeks in a year. paying from Sep 2008 until sep2011 thats not 148weeks at 5.16 a week for a TV that amount too £763.68

I'd agree, and it's worth chasing up, but you're talking about a maximum of 7-8 weeks difference = £40.

You seem to be hinting at an expectation you only owe them about £400?

PZH

stugib wrote: »

I'd agree, and it's worth chasing up, but you're talking about a maximum of 7-8 weeks difference = £40

I agree. I would clarify the exact end date of the credit agreement.

daisyduke1

stugib wrote: »

I'd agree, and it's worth chasing up, but you're talking about a maximum of 7-8 weeks difference = £40.

You seem to be hinting at an expectation you only owe them about £400?

lol,

Why should i pay an extra £40 to them when im already paying more pi$$ing interest than what the actualy tv costs and worth. They are ripping me off as it is.

NeilF3485

daisyduke1 wrote: »

You are not reading what i said. I started paying on septemeber 2008 and dont finish paying until september this year. now im not stupid but there is 52 weeks in a year. so this would mean i would paying more than 148 weeks. well if they have increased it im not aware of it. as i only get a statement once a year from them and wont be due one this year as finish paying (meant to in September). They dont tell you anything when you pay in shop or over the phone. My weekly payments have always remained the same.

I am reading what you've said and I understand it, my point was that the logical step for it running longer than previously anticipated is that the balance is higher than it was.

The two reasons I can think for this happening are that

a) the interest rate has gone up
b the VAT rate went up to 20% on the residual balance at the turn of the year and they passed this on