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Chewing Grass

So much per month

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It might be useful for property developers?

Let's say it will take 4 months to shift a property, then for £400 quid for a new kitchen then that isn't too bad. 

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A car dealership runs ads in our local paper like that.

No price on vehicles just a monthly payment.

Usually over 60 months, 30% interest, Option To Purchase Fee, Loan Arrangement Fee, all the other wheezes - Total Repayment Amount - £...WHAT!!!

Not that the local paper will be around much longer.

 

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9 minutes ago, MrPin said:

Yup, the "only so much a month" message is lost on me. How much is it? Like the bloody broadband I've just ditched.

I got a letter 2 weeks ago saying that from January the BT broadband would be going up £2 a month

I get 8Mb down and 0.8Mb up

I phoned up to complain. I said "I wouldn't pay the extra". "What extra?" I was asked. "The £2 extra from January" I said. "How do you know about that?" "From your letter" I said. "You can't do, the letters haven't been sent out yet" "yes they have" "No they haven't" - "Look, I'll read it to you"

FFS, have the pantos started already, I thought

Anyway, the upshot is I won't be paying the £2 extra.

Edited by Hopeful

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I'm not sure if it's deliberate obfuscation or if retailers of big ticket items are starting to realise that virtually none of their customer base have the ability to buy their product outright any more. If all your potential customers only have £1,500 and your product is £15,000 then I don't suppose you have much choice but to flog them credit.

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4 minutes ago, Fully Detached said:

I'm not sure if it's deliberate obfuscation or if retailers of big ticket items are starting to realise that virtually none of their customer base have the ability to buy their product outright any more. If all your potential customers only have £1,500 and your product is £15,000 then I don't suppose you have much choice but to flog them credit.

The product is just the vehicle to sell credit. Not for nothing is General Motors known as the bank with a car company attached to it. 

Our whole existence is becoming financialised: education, housing, transport, telecoms... There is no escape. 

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I'm from Yorkshire me. xD  bare with...  we are known to be careful with out money. I was brought up with such sayings as, "if you can't pay one week, one week, you can't pay two the next".  This credit lark is going to end in tears. If people cannot afford things, then it is not going to take much to tip it all over the edge. 

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1 minute ago, whitevanman said:

The product is just the vehicle to sell credit. Not for nothing is General Motors known as the bank with a car company attached to it. 

Our whole existence is becoming financialised: education, housing, transport, telecoms... There is no escape. 

I think there's a small amount of difference between General Motors and Wren's Kitchens.

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8 minutes ago, Fully Detached said:

I'm not sure if it's deliberate obfuscation or if retailers of big ticket items are starting to realise that virtually none of their customer base have the ability to buy their product outright any more. If all your potential customers only have £1,500 and your product is £15,000 then I don't suppose you have much choice but to flog them credit.

At work I keep getting emails from companies saying that if price is a barrier for my customers then I should partner with them so that I can offer credit.

Sign of the times.

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2 minutes ago, One percent said:

I'm from Yorkshire me.   bare with...  we are known to be careful with out money. I was brought up with such sayings as, "if you can't pay one week, one week, you can't pay two the next".  This credit lark is going to end in tears. If people cannot afford things, then it is not going to take much to tip it all over the edge. 

Indeed. I have both Yorkshire and Aberbonian In my great grandparents generation, and was brought up to think if you can't afford it you can't afford it. Never bought anything on credit except the house. 

Although I do understand this makes me an old git out of touch with the zeitgeist, IDGAF.

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1 minute ago, Melchett said:

Indeed. I have both Yorkshire and Aberbonian In my great grandparents generation, and was brought up to think if you can't afford it you can't afford it. Never bought anything on credit except the house. 

Although I do understand this makes me an old git out of touch with the zeitgeist, IDGAF.

I haven't even bought a house. I pay for mine one month in advance.

Edited by Hopeful

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1 minute ago, Melchett said:

Indeed. I have both Yorkshire and Aberbonian In my great grandparents generation, and was brought up to think if you can't afford it you can't afford it. Never bought anything on credit except the house. 

Although I do understand this makes me an old git out of touch with the zeitgeist, IDGAF.

I buy on credit if it works for example, buying a new bit of furniture, it can be got for 0 percent and no discount for cash. I've just taken out a hp deal on a car as I got a "contribution" of 1.5k from the manufacturer. I'll be settling that next week though. 

The problem is though when people can't really afford it. If I can't, I just don't do it.  

7 minutes ago, Cunning Plan said:

At work I keep getting emails from companies saying that if price is a barrier for my customers then I should partner with them so that I can offer credit.

Sign of the times.

How does that work?  Are you on the hook if they don't pay? 

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5 minutes ago, One percent said:

I buy on credit if it works for example, buying a new bit of furniture, it can be got for 0 percent and no discount for cash. I've just taken out a hp deal on a car as I got a "contribution" of 1.5k from the manufacturer. I'll be settling that next week though. 

The problem is though when people can't really afford it. If I can't, I just don't do it.  

How does that work?  Are you on the hook if they don't pay? 

I'll walk away if there is a 0% finance deal on offer but there is no discount for cash. I might be cutting off my nose to spite my face, but I won't buy under those conditions. There is nothing I need that much.

 

 

Edited by Hopeful

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21 minutes ago, Fully Detached said:

I think there's a small amount of difference between General Motors and Wren's Kitchens.

It's all just borrowing to consume. Finance drives up the cost of everything. Low or 0% interest deals hide the cost of financing in the price. Anyone paying cash is getting a rotten deal. 

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2 minutes ago, whitevanman said:

It's all just borrowing to consume. Finance drives up the cost of everything. Low or 0% interest deals hide the cost of financing in the price. Anyone paying cash is getting a rotten deal. 

Only a rotten deal if you don't get a discount

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1 hour ago, Hopeful said:

I got a letter 2 weeks ago saying that from January the BT broadband would be going up £2 a month

I get 8Mb down and 0.8Mb up

I phoned up to complain. I said "I wouldn't pay the extra". "What extra?" I was asked. "The £2 extra from January" I said. "How do you know about that?" "From your letter" I said. "You can't do, the letters haven't been sent out yet" "yes they have" "No they haven't" - "Look, I'll read it to you"

FFS, have the pantos started already, I thought

Anyway, the upshot is I won't be paying the £2 extra.

I had a similar issue with Sky. I managed to get a move from a crap rental after 10 months. Due to a long delay in setting up my broadband, that left about 4 months of contract left. 

I cancelled it, expecting to have to pay the remaining months but instead got it cancelled there and then. 

It turned out that they were raising the cost of line rental by such an amount (possibly above RPI) that I was entitled to cancel the contract with no penalty. I have to give them credit for not charging me as I would never have known otherwise. 

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3 minutes ago, Hopeful said:

Only a rotten deal if you don't get a discount

In a ZIRP environment cash gets eroded. Everything we buy has its price artificially inflated. What's happened to housing market is being pushed through the entire economy. You can try and go against it but you end up being punished whilst those who go with the flow are rewarded. 

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5 minutes ago, The Generation Game said:

I had a similar issue with Sky. I managed to get a move from a crap rental after 10 months. Due to a long delay in setting up my broadband, that left about 4 months of contract left. 

I cancelled it, expecting to have to pay the remaining months but instead got it cancelled there and then. 

It turned out that they were raising the cost of line rental by such an amount (possibly above RPI) that I was entitled to cancel the contract with no penalty. I have to give them credit for not charging me as I would never have known otherwise. 

Yes, if they change the contract, such as a price increase, it gives you a get out of jail free card.

I look forward to it as it gives a chance to 'get out' which offers a negotiation opportunity mid contract and always ends up with me staying with BT but paying less. Don't know whether I'm on a good deal but im paying £25.99 pm for broadband and £32 all in for line rental and 24/7 calls. Which is £4 cheaper than before (after including the £2 Jan price increase).

Please let me know if I'm paying over the odds :-)

Edited by Hopeful

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1 minute ago, whitevanman said:

In a ZIRP environment cash gets eroded. Everything we buy has its price artificially inflated. What's happened to housing market is being pushed through the entire economy. You can try and go against it but you end up being punished whilst those who go with the flow are rewarded. 

I try and factor that in and and strike a hard bargain, well I pay a price I'm happy with.

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1 minute ago, whitevanman said:

In a ZIRP environment cash gets eroded. Everything we buy has its price artificially inflated. What's happened to housing market is being pushed through the entire economy. You can try and go against it but you end up being punished whilst those who go with the flow are rewarded. 

Unless you pretty much shun it.

There were several posts on the favourite possessions thread where people are perfectly content with the material goods that they already have and will only be buying to replace anything that breaks.

A home is essential so yes absolutely, common sense flying out of the window in the markets and being flung out of said window by the government burnt a lot of fingers.  A Delonghi thingamajig for your kitchen is however not essential and you won't miss out on a boom in Delonggi thingamajigs if you're never going to buy one anyway.

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There is a place for this though and it is not new.

Some 30 years ago, my girlfriend of the time lived in St Louis. She shared a rental with two other girls.

When they moved in, they got a catalogue and rented by the month every single thing - sofa, bed, microwave etc. 

When they moved out, everything would be collected and that was the end of it. I found it very odd but it sort of made sense.

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37 minutes ago, One percent said:

I buy on credit if it works for example, buying a new bit of furniture, it can be got for 0 percent and no discount for cash. I've just taken out a hp deal on a car as I got a "contribution" of 1.5k from the manufacturer. I'll be settling that next week though. 

Was looking at a Citroen Space Tourer the other day as someone I know was testing one and it looked quite practical. Now if you look on Citroens website they quote it as RRP £32K a little bit of digging and you find another company that says they can get you any Citroen you want. So tested their price and the aformentioned vehicle can be got for £24K cash, on the road from a dealer of your choice including first registration fee and 12 months tax.

This tells me that whatever route you take the RRP less discounts has the credit price already baked in by the manufacturer.

That is why car list prices are so expensive. they have upped them circa 30% to cover the median pleb finance cost.

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