B and Q kitchen loans

Emmysmum_2

Just thought to pass this on. We need a new kitchen (not enough cabinets, cupboards falling apart anyway, etc), and for the past 7 months since we moved in, we have been getting our upper cabinets one by one, keeping an eye out on the heavily dicounted returned so clearanced carcasses. Anyway, we went to B and Q to see what else they had, and to look at those builder's packs they do for hobs and and ovens. They have a 15% off kitchen sale. They also have new kitchen loans with 14.8% flat aPR. So...needing to get the bottom cabinets and the cooking facilities all together to be installed at the same time, we elected to take advantage of the flat 14.8% apr beingoffset by the 15% off discount on kitchen purchases.

This has worked out two fold...firstly, because the packaged together hob and oven were already a substantial discount, and all the things we bought on the loan for the kitchen were included in the 15% off...including the hob and oven package, as well as things like the plinth heater , paint, and stuff. So...since the loan was 14.8 apr and it was a flat rate with the repayment amount fixed, we basically get it interest free because we got a 15% discount. So they ended up paying us a whole .2% to order the kitchen all at once, and our repayment is less than if we had kept going each week buying a cabinet!:T Hope this helps someone

Astaroth

Of cause if you had a 0% credit card and could afford to pay off before the 0% ended you would have simply got the 15% discount and no credit charges.

14.8% is fairly high interest and people could get lower else where and then use the money at B&Q - just like car financing, it is rarely best to do it with the retailer unless it is a 0% offer

hopeless_case_2

do yoy know if they lend to people with a not so grea credit rating

Emmysmum_2

Astaroth wrote:

Of cause if you had a 0% credit card and could afford to pay off before the 0% ended you would have simply got the 15% discount and no credit charges.

14.8% is fairly high interest and people could get lower else where and then use the money at B&Q - just like car financing, it is rarely best to do it with the retailer unless it is a 0% offer

It is indeed, but we do not want a credit card, plus we would have had to wait for card to be approved, then toa rrive, etc, adn teh sale would have been over. Also, not everyone can get a credit card!

Hopeless, I do not know. Our credit was so so before we bought the house, but apparently getting a mortgage helps rewrite your credit history, and we were approved in about 10 minutes. So we got our credit, still ended up with 0% interest, and STILL saved on teh over all cost of things, because many were already special limited offers (the oven and hob priced sperately would have been a further £326 over what the package deal was at its non 15% discounted price).

Sammz

It's B&Q, the sale is never over! lol