Do you go for finance?

Discuss the eternal "Which fork/bike/tyres should I buy?" questions.

Would you prefer to take advantage of finance?

Poll ended at Wed Jan 16, 2013 14:21 pm

Yes - Used already/Need it
8
33%
Yes - Possibly
5
21%
No
11
46%
 
Total votes: 24

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amdowney
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Do you go for finance?

Postby amdowney » Mon Dec 17, 2012 14:21 pm

Good day,

Out of interest how many of you would, or already have taken advantage of 0% finance deals? :?:

white91
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Re: Do you go for finance?

Postby white91 » Mon Dec 17, 2012 15:32 pm

0% is a no brainer

mcnultycop
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Re: Do you go for finance?

Postby mcnultycop » Mon Dec 17, 2012 15:35 pm

You'll never get any discount on a 0% finance deal though. OK if you want a "current" model bike where there isn't much scope for negotiation, if you want something older a 0% credit card is likely to be the best option.

Or just save up.

nferrar
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Re: Do you go for finance?

Postby nferrar » Mon Dec 17, 2012 15:49 pm

Would consider it but you're often better if you can get a CC deal and buy it on that then ask for a discount on the bike.

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97th choice
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Re: Do you go for finance?

Postby 97th choice » Mon Dec 17, 2012 20:34 pm

0% credit card or c2w.

As mentioned above, 0% finance deals are almost always over priced.
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ifindoubtflatout
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Re: Do you go for finance?

Postby ifindoubtflatout » Mon Dec 17, 2012 20:43 pm

0% is they way forward...............ive just taken advantage of Tesco's credit card's 0% for 15 months on purchases and built my new steed up, then flogged my old one stuck the cash in my ISA set DD up for £80 into my ISA then pay the lot off in 15 months and maybe make a bit of interest on it aswell..............Win win for me. :lol:

white91
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Re: Do you go for finance?

Postby white91 » Mon Dec 17, 2012 21:01 pm

ifindoubtflatout wrote:0% is they way forward...............ive just taken advantage of Tesco's credit card's 0% for 15 months on purchases and built my new steed up, then flogged my old one stuck the cash in my ISA set DD up for £80 into my ISA then pay the lot off in 15 months and maybe make a bit of interest on it aswell..............Win win for me. :lol:


That's text book Linn

BigJimmyB
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Re: Do you go for finance?

Postby BigJimmyB » Mon Dec 17, 2012 21:17 pm

I votes yes and have used it.

0% means they sell the item to a finance company for a discount. You pay the finance company the full whack over x months, that's how they make their dosh.

See if you can negotiate the same deal as the finance company or take the 0%.

SuperOwl86
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Re: Do you go for finance?

Postby SuperOwl86 » Mon Dec 17, 2012 21:20 pm

How would you go about trying to get the price down?

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The Northern Monkey
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Re: Do you go for finance?

Postby The Northern Monkey » Mon Dec 17, 2012 21:26 pm

ifindoubtflatout wrote:0% is they way forward...............ive just taken advantage of Tesco's credit card's 0% for 15 months on purchases and built my new steed up, then flogged my old one stuck the cash in my ISA set DD up for £80 into my ISA then pay the lot off in 15 months and maybe make a bit of interest on it aswell..............Win win for me. :lol:

exactly what I've just done to fund some upgrades!

Lagrange
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Re: Do you go for finance?

Postby Lagrange » Tue Dec 18, 2012 00:53 am

Big Jimmy explains it well. In fact this is the principle of Islamic Finance if you are interested.

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benpinnick
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Re: Do you go for finance?

Postby benpinnick » Tue Dec 18, 2012 08:26 am

Never use 0% unless is your only choice - you can negotiate at least 10% off (finance companies charge the bike shop around 15% I believe) and that's worth more than the cash in the bank. Even better if you can doa CC deal as described above.
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benpinnick
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Re: Do you go for finance?

Postby benpinnick » Tue Dec 18, 2012 08:28 am

I should point out that by only choice I mean instead of cash or 0% on a CC. Don't use Wonga instead for example
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cooldad
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Re: Do you go for finance?

Postby cooldad » Tue Dec 18, 2012 10:35 am

Why, is there something wrong with interest of 83846382829374404836382920402827292020202028462%.
Surely those cute (aaarrrgh) little old puppets wouldn't rip you off.
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querhoch
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Re: Do you go for finance?

Postby querhoch » Tue Dec 18, 2012 15:36 pm

no. I only ever pay cash. this year Ive spent around 3k on two bikes and got a decent discount on the DH bike because i was paying cash. Using finance is weighing the deal in favour of a 3rd party and I dont like doing that, so I only buy if I have the money in my hand.


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