Taiko Posted September 20, 2009 Share Posted September 20, 2009 I am contemplating using GE Finance through Harvey Norman’s current 40months interest free offer. I would like to know if anybody has used this before, to there benefit or detriment. Advice kindly appreciated. Cheers. Link to comment Share on other sites More sharing options...
Pakage Posted September 20, 2009 Share Posted September 20, 2009 they will call you and try sell you insurance on your loan. as long as you stay away from that you should be sweet. are you just using it for the interest free term? Make sure you pay it back before the terms up, their interest rates are probably pretty horrendous. Link to comment Share on other sites More sharing options...
Taiko Posted September 20, 2009 Author Share Posted September 20, 2009 are you just using it for the interest free term? Make sure you pay it back before the terms up, their interest rates are probably pretty horrendous. Correct. The 40months is the only way i can really conceive affording a mac at this stage. If i take it then i will definitely be paying it off before the 40months. I believe the interest rate is something like 25%! Link to comment Share on other sites More sharing options...
Teret Posted September 20, 2009 Share Posted September 20, 2009 Shit thats decent. What does that equate to weekly? $20? Link to comment Share on other sites More sharing options...
Grind Posted September 20, 2009 Share Posted September 20, 2009 40 mths interest free is off the hook! I thought most retailers don't offer any Mac products under these terms though? Link to comment Share on other sites More sharing options...
Taiko Posted September 20, 2009 Author Share Posted September 20, 2009 Mon, Tues, Wed. The offer is available for these 3 days only, hence my query. For what i'm getting it equates to approx $120 per month for approx 33.3 months. Rough math. Link to comment Share on other sites More sharing options...
Grind Posted September 20, 2009 Share Posted September 20, 2009 So definitely includes Macs? Link to comment Share on other sites More sharing options...
Taiko Posted September 21, 2009 Author Share Posted September 21, 2009 Well, im going to be mightily embarrassed when I go in and its not. Yes. Link to comment Share on other sites More sharing options...
Grind Posted September 21, 2009 Share Posted September 21, 2009 Far out... tempting. Link to comment Share on other sites More sharing options...
Taiko Posted September 21, 2009 Author Share Posted September 21, 2009 I know. And i hate finance companies. Link to comment Share on other sites More sharing options...
Dr Awesome Posted September 21, 2009 Share Posted September 21, 2009 Are there any dodgy Ts&Cs on paying the loan back early? Link to comment Share on other sites More sharing options...
Taiko Posted September 21, 2009 Author Share Posted September 21, 2009 Are there any dodgy Ts&Cs on paying the loan back early? I noticed a $40 early repayment fee if you pay it all before the term ends (although i was looking at the personal loan FAQs on their website -unsure if this includes whatever set up they have through HN). Fucking ridiculous either way. Link to comment Share on other sites More sharing options...
Dr Awesome Posted September 21, 2009 Share Posted September 21, 2009 IMO just save up and buy it. Kids these days. Link to comment Share on other sites More sharing options...
Taiko Posted September 21, 2009 Author Share Posted September 21, 2009 IMO just save up and buy it. Kids these days. Rent, bread and water for 15mths. Sweet. Link to comment Share on other sites More sharing options...
Grind Posted September 21, 2009 Share Posted September 21, 2009 IMO just save up and buy it. Kids these days. If it's interest free then there's nothing wrong with having it NOW rather than in 3 years or whatever. Link to comment Share on other sites More sharing options...
Dr Awesome Posted September 21, 2009 Share Posted September 21, 2009 IMO just save up and buy it. Kids these days. If it's interest free then there's nothing wrong with having it NOW rather than in 3 years or whatever. Um. Yes there is. This is basically why A) Kiwis are useless savers B) the credit bubble happened. It's all very good - until your ____ craps out and you need to go get it repaired or replaced. Now you can't either make the repayments or get it paid off in time. I've always been of the opinion interest free things are fine so long as you have the cash monies first, that way you can keep the money you already have in your bank account earning interest. I suppose its just a difference in philosophy and you might miss out on the odd good deal but if it looks to good to be true it probably is, and you're running the risk of getting your life sucked away. Link to comment Share on other sites More sharing options...
Nato Posted September 21, 2009 Share Posted September 21, 2009 I'd have to agree with DR A on this. Unless you actually have the money in the bank I would personally avoid, especially on a substantially large purchase. I mean, yeah everything might be going swimmingly now but if you end up unemployed for whatever reason, illness, injury, or just plain yo-ass-got-firedness, then what was a really affordable monthly payment could turn into something a bit more difficult. Zpak might hit us up with some specific GE related info, he used to work in loans there so he'll know every little way the are gonna try and fuck you. Link to comment Share on other sites More sharing options...
Taiko Posted September 21, 2009 Author Share Posted September 21, 2009 What a buzz kill. Link to comment Share on other sites More sharing options...
Pakage Posted September 21, 2009 Share Posted September 21, 2009 I'd have to agree with DR A on this. Unless you actually have the money in the bank I would personally avoid, especially on a substantially large purchase. I mean, yeah everything might be going swimmingly now but if you end up unemployed for whatever reason, illness, injury, or just plain yo-ass-got-firedness, then what was a really affordable monthly payment could turn into something a bit more difficult. if your worried about any of that then you could always get their job insurance on your loan but since that was one of the things i warned you about in the first place, you'd have to think if it was really worth it.. Link to comment Share on other sites More sharing options...
zzzp Posted September 21, 2009 Share Posted September 21, 2009 It'll be through the creditline, last i remeber was around 25.9% interest, calculated on the balance of whats remaining, not at a fixed rate like GE Money loans - always beware of the difference. Its interest free anyway. General early repayment fees are incurred, normally smallish, establishment fee, optional insurance. Is it 40months interest free or differed? If it is differed, and you go 41 months without clearing the debt in full, all 40months interest will be loaded back onto the debt which = extreme suckomoto. What are the exact terms, 20months differed, 20months interest free? I live life with a 0 debt policy after working there for long enough and seeing what goes on and how bad it gets; none of my business anyway, but having no debt means you can lead a cheap life. Its key imo. Macs suck anyway. Link to comment Share on other sites More sharing options...
Taiko Posted September 21, 2009 Author Share Posted September 21, 2009 (edited) Cheers for the info Zpak. Having been in contact with their finance department i have been told its 40months flat (not differed). There is a $35 establishment fee and a $25 annual fee... Edited September 21, 2009 by Guest Link to comment Share on other sites More sharing options...
Pakage Posted September 21, 2009 Share Posted September 21, 2009 fuck that differed interest sounds gheyballs. fuck that for a joke. Link to comment Share on other sites More sharing options...
Teret Posted September 21, 2009 Share Posted September 21, 2009 fuck that differed interest sounds gheyballs. fuck that for a joke. Link to comment Share on other sites More sharing options...
zzzp Posted September 21, 2009 Share Posted September 21, 2009 Thats only the start of what goes on there Link to comment Share on other sites More sharing options...
Taiko Posted September 21, 2009 Author Share Posted September 21, 2009 Can you explain what else? Link to comment Share on other sites More sharing options...
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