Interest Free deals

[Perp]

Does this sort of thing appear on your credit file ?

It sure does, but it's usually not that big a deal, provided your LVR and DSR are still OK.

I view these interest-free deals as like buying on layby - but you get the goods at the outset. It's terrific if you are sure you can make the payments.

Yes, you might not get quite as good a discount, but if you have extra cash to use as a deposit on an investment, you should overall be much better off.

 

[Old Mate]

I didn't vote. I've never done a deal like this but I've never had to buy anything that has this option. When I do I might take it up. It seems like a reasonable idea from a consumer's point of view as long as you're disciplined enough to pay it off before the interest comes in. Just put the money for the item in the bank, don't touch it and let it earn a little interest for you.

 

[natmarie73]

Never done it. I've worked for GE in the past. No way would I ever be wanting to owe them a red cent they are so shonky.

 

[silversands]

Hmm, agree on above^^

We paid all money remaining on a car loan to them last year with more 21/2 yrs remaining. Confirmed that so long as we didn't close the loan there would be no penalty for early repayment. Every few months they ring and tell us we owe them a growing amount for early repayment only to finally back down and say oops sorry,our error after 1/2 hour on the phone. How many just give in and pay up to be rid of them!??