HeadingNorth Posted February 14, 2012 Share Posted February 14, 2012 You are very off wide off the mark here. No he isn't. Applying for credit too many times will damage your credit rating. Where you are wide of the mark is in not reading his post properly, and asssuming that he said "applying for credit once will damage your credit rating." Link to comment Share on other sites More sharing options...
alchresearch Posted February 14, 2012 Share Posted February 14, 2012 I think most people have missed the point of the op: They were looking for a discount because they were paying cash which the store did not allow. Everything else about 0% finance is smokescreen, they were looking for a bargain. Not really, maybe you missed my post where I said that the price tag on the sofa was the price if you took out their credit. The cash price was the same as the pre-sale price. Link to comment Share on other sites More sharing options...
andygardener Posted February 14, 2012 Share Posted February 14, 2012 A good example of how they work is a sofa for £499 from a well known furniture retailer - "4 years free credit, no deposit and 48 equal monthly repayments of £10.39" Which is all good as long as you make every payment and realise that you're 28p short at the end of the term and pay that as well. Otherwise you're stuck with 33% pa interest charges from the date of the agreement, in other word the sofa just doubled in price. Link to comment Share on other sites More sharing options...
polo mint Posted February 14, 2012 Share Posted February 14, 2012 A cash purchase means the store has all of your money now, and can earn interest on it for the next four years. That's just one, hugely obvious, reason why the goods should be cheaper if you're paying in cash. There may be others. It does make you wonder about all these business that moan that they can't borrow capital from the banks but when you try to give em cash they spit in your face. Link to comment Share on other sites More sharing options...
Cyclone Posted February 14, 2012 Share Posted February 14, 2012 I think most people have missed the point of the op: They were looking for a discount because they were paying cash which the store did not allow. Everything else about 0% finance is smokescreen, they were looking for a bargain. The sales assistant lied though if he claimed the law stopped them offering a cash discount, I'd have left at that point, I don't like being lied to. Link to comment Share on other sites More sharing options...
L00b Posted February 14, 2012 Share Posted February 14, 2012 Applying for credit too many times will damage your credit rating.I can't see where I have disagreed with this. Kindly point it out. Where you are wide of the mark is in not reading his post properly, and asssuming that he said "applying for credit once will damage your credit rating." Now, here is the rest of the post, which you appear to have overlooked: There's a very real problem. Everytime you apply for credit or have someone making a credit check on you it affects your credit rating.So getting saddled with credit agreements you neither want nor need can disadvantage you if you should every genuinely require credit. The most credit worthy folks are the ones who don't borrow. Where did Dingus suggest 'once', again? Link to comment Share on other sites More sharing options...
Cyclone Posted February 14, 2012 Share Posted February 14, 2012 It does make you wonder about all these business that moan that they can't borrow capital from the banks but when you try to give em cash they spit in your face. What makes you think that it's the same businesses? Link to comment Share on other sites More sharing options...
max Posted February 14, 2012 Share Posted February 14, 2012 The sales assistant lied though if he claimed the law stopped them offering a cash discount, I'd have left at that point, I don't like being lied to. See post 39. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted February 14, 2012 Share Posted February 14, 2012 I think most people have missed the point of the op: did not allow a cash discount They were looking for a discount because they were paying cash which the store did not allow. Everything else about 0% finance is smokescreen, they were looking for a bargain. Precisely. And if the store is unwilling to offer a cash discount you are quite entitled to go elsewhere. I'm sure there is another furniture store which would be grateful for your business. I doubt that there are many which can afford to turn customers away (if thy can, then perhaps their prices are too high anyway;)), but some are stupid enough to do so. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted February 14, 2012 Share Posted February 14, 2012 Yep I was surprised by this a few years back.. but looked into it and you should be able to pay the full retail price in cash. What companies are not allowed to do, because of the various credit laws, is offer a discount for cash on an item that is available on credit. The reason being is that the difference between the discount and the credit price is then deemed to be a punitive excess charge for the credit which is not allowed. If that is in fact the case, then I'll pay cash but I want a 10% discount for: Being aged over 50 (or 40 or whatever) Being left-handed Being 176 cm tall Or just because I'm not prepared to pay the asking price. When goods are put on display at a price, that price is an 'invitation to treat'. Link to comment Share on other sites More sharing options...
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