definitely. I would be there tomorrow morning if that as the case. depends on interest and admin fees though. cant be any hidden bull**** like GE money ect.

I'm sure more people would buy new gear if there was some type of payment system available.

There are a couple of good ones out there that I know of-

Ezy Pay- You pay 25% of the price up front, then the rest off over 6, 12 or 18 months. Comes straight out of your pay and is a no interest ever option that is really no interest ever. It's like a take home lay by. Fees are normally around 7% of the purchase price to use though but apart from that there are no other fees to pay.

Catch is you do need to be working for a minimum 30 hours per week though but that's it.

GE Money- Most people know about GE in some way shape or form. A good system with no interest periods up to 4 years. Usually no upfront fee apart from an application fee of $25 which is pretty good. Monthly admin fee of $2.95 which is also reasonable.
Only problem is that yes, if you go outside the interest free period then you pay 29% interest. If you let it get to that stage it's your own fault anyway and you deserve to be screwed. After all, you've had up to 4 years to pay it off!!! If you have the discipline to pay it off then it's also a good option.

The only other con is that if you take up these offers there is usually no room to discount the price of the goods if the retailer is absorbing the costs of the repayment system. Some will discount the items and add the charges on top for you to pay if thats what you want to do and they are happy to disclose the costs of the system.

Overall, probably not a bad idea for people who have cash issues and more new gear would probably be sold.

On the other hand it would make my 12 month old kites harder to get rid off at the end of the year!!!

GalahOnTheBay said...

There is no such thing as a "no interest period"! Your application fee and admin fee are the interest. These guys aren't in business as good Samaritans last time i checked...

No one is from memory and definently not me. They deserve to make money as they are offering a service. $25 dollars up front and a midget $2.95 per month is chicken feed really.

Most banks charge this and more to manage a bank account. They give you interest then take it away in fees. At least with this you get something you can keep even after you've paid it off!!

As I said before, if you have had up to 4 years to pay something off and you don't, then you deserve to be hit with 29% anyway and you have no sympathy from me.

^^^ Completely agree. Don't spend money you don't have.

I agree too - Buy now pay now.

And you can be a sick kiter with almost any kite from the last 3 or 4 years. It's not what you fly it's how u fly it. Yeah it's nice to have the new gear but it will rarely automatically make u a better kiter. Get hold of a used kite that you can afford and learn how to rock it.

Peace

GalahOnTheBay said...

There is no such thing as a "no interest period"! Your application fee and admin fee are the interest. These guys aren't in business as good Samaritans last time i checked...

Yeh I hear what you are saying there is money having to go somewhere, I think the store selling the goods absorbs some of the interest to offer the int free period. Which if you are like a hardly normal store your margins allow it...I dont think the margin is really there with kite n surf eqiupment.

I got my Maton 5 series from a music shop in bris that do a take home now layby. 25% up front and a $30 setup fee. paid off over 12 months through a direct deposit and no interest. And for the naysayers, thats no interest and no "interest free period" just paid off in installments over 12 months.

Allows them to pick up a lot of business they would otherwise miss out on.

I don't spend money I haven't got. And I would most certainly not make an exception 4 something that can get damaged and loose in value considerable by one tiny accident as easily as a kite. No way!