BNPL + Interest free CCs

poppasmurf_bewdley

What can a £1900 laptop do that others can't?

dealer_wins

Just remember that in 2 years time, when your laptop has started to get old and several newer more fantastic models are out, rather than go any buy one you will have to find £1900 to pay for your ageing chugging one!

shortcrust

Lungboy wrote: »

Far better to not get a £1900 laptop on credit but save for it instead

That depends entirely on the OP's circumstances.

bigtingz92

Ok, cheers for all the activity guys and gals.
I just had another thought, though this is purely out of interest.
Could I buy the laptop, then sell it, put the money in the bank, get some interest, then pay for it after the year?

Gaz83

bigtingz92 wrote: »

Ok, cheers for all the activity guys and gals.
I just had another thought, though this is purely out of interest.
Could I buy the laptop, then sell it, put the money in the bank, get some interest, then pay for it after the year?

Probably not. You'll get what, 3% interest in a bank account? Even on a £1,900 laptop that'd work out to be £57.

You'd need to sell it for (slightly over) £1,843 to even break even. And who's going to buy a second-hand laptop for £1,843 when they could buy it from a shop brand new for £1,900?

bigtingz92

Good point Gaz, but in terms of a interest-free loan? could that kind of thing work?

Gaz83

bigtingz92 wrote: »

Good point Gaz, but in terms of a interest-free loan? could that kind of thing work?

How do you mean?

Tixy

If you can obtain an interest free cash loan then yes it is possible to make return on it by putting it in to an interest bearing savings account.

As interest rates on savings accounts are very low at the moment the returns are not particularly good currently.

If the interest free loan requires monthly repayments then you also need to factor those in to any profit calculations.

bigtingz92

Gaz83 wrote: »

How do you mean?

As in buy the laptop, or anything, sell it for close to the price you purchased it. Then pay back the amount you paid for it with no interest a year later.

So you basically get a £1900 interest free loan?

Tixy

bigtingz92 wrote: »

As in buy the laptop, or anything, sell it for close to the price you purchased it. Then pay back the amount you paid for it with no interest a year later.

So you basically get a £1900 interest free loan?

Its not going to work on this deal.
Even if you sell the laptop for £1875, and invest that money for 11 months at say 3% then you'll only earn £51 in interest.
So you pay out £1900 and £29 = £1929.
You end up with cash of £1875 + 51 - £1926.
You make £3 in interest, and only if you can get a savings account paying as much as 3% interest - plus you may need to factor in tax on the earned interest unless the account is an ISA.

And as someone previously stated why would anyone buy a second hand item from you rather than a brand new item with the benefit of purchase protection direct from the seller themselves for a few pound more.