rmw123 Posted May 12, 2012 Share Posted May 12, 2012 DFS pride themselves on their "4 years interest free credit with the 1st year payment free", but do people know EXACTLY what this means? This reads to me as you make no payment for a year then make equal payments for 4 years with no interest! Apparently not!! I know it's not just me that thinks this as I've spoken to several people who thought the same. I worked out how much I was paying each month to how much I paid for the settee and was confused when I seem to be paying £370.28 extra on a £1000 settee! When calling the creditors, I was advised that the "4 years interest free credit" included the 1st year you make no payments! Which means I am payin interest on my last re-payment year. I was never told this when i purchased the settee and this was confirmed by the person I bought the settee with. It may not seem much to some people, but an unexpected £370.28 taken from me in just one year is a big deal to me, especially with a young baby. Was anyone else aware that this is how this "deal" works? Link to comment Share on other sites More sharing options...
Frank Sidney Posted May 12, 2012 Share Posted May 12, 2012 That's very cunning of them, thanks for popinting it out.... Link to comment Share on other sites More sharing options...
cgksheff Posted May 12, 2012 Share Posted May 12, 2012 I'm sorry, but to me (and many others) it means that there is a 4 year period in total. No payment for the first year and then pay the interest-free balance off over the following three years. That is also how the offers are presented on their website. It seems you signed a different deal that was misrepresented. Link to comment Share on other sites More sharing options...
rmw123 Posted May 12, 2012 Author Share Posted May 12, 2012 But what doesn't make sense to me is how can your payment free year be included in your interest free credit? How can you have interest on nothing? Link to comment Share on other sites More sharing options...
medusa Posted May 12, 2012 Share Posted May 12, 2012 But what doesn't make sense to me is how can your payment free year be included in your interest free credit? How can you have interest on nothing? You still owe them for the sofa that you have already had in your home for a year, don't you? The fact that you haven't started paying for it yet doesn't take away from the fact that the money is owed. The full payment terms are over 4 years, which is a year without payment and then 3 years of payment (or at least it was last time I signed an agreement with them). Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.