"Flexi-rent" A laptop

Comma · 31st October 2007, 1:23 PM

So I want a new laptop, and my friend recently got his on a 40 monhs interest free Harvey Norman deal.

I was considering the options and wondering if anyone had experience with this type of purchase.

DiGiTaL MoNkEY · 31st October 2007, 1:24 PM

Get a copy of the contract you have to sign so you know what fees you have to pay (before you decide to buy it), it may be interest free but there are monthy fees to compensate (which is the main trick)

IMO your better off saving up the money for what you want, because 1. You will be able to haggle the price of the laptop when you’re paying cash/card, 2. You won't have a debt hanging over your head and if you don’t pay it, you'll get charged a massive amount.

Best advice...dont spend money you don’t have ** Unless you can pay it off quickly without getting charged interest.

TOX · 31st October 2007, 1:34 PM

Flexirent is differant to GE 40 Months intrest free generally.

Flexirent is more of a rental thing. If you add up the total costs it's ussually very high. It works very well from a buisness perspective thought. You also need to do a pay out at the end of the aggreement to own it.

GE Intrest free on the other hand is excatly that thought. You have X Months to pay it off with out having to pay interested. There is normally a $20 establishment cost and a $3 a month fee

NSanity · 31st October 2007, 1:35 PM

Quote:

Originally Posted by DiGiTaL_MoNkEY

Best advice...dont spend money you don’t have ** Unless you can pay it off quickly without getting charged interest.

Let me know when you pay cash for your house.

Credit is fine so long as you respect it.

DiGiTaL MoNkEY · 31st October 2007, 1:38 PM

Quote:

Originally Posted by NSanity

Let me know when you pay cash for your house.

Credit is fine so long as you respect it.

Dont take things out of context, this was related to goods such as a laptop...not a House.

Quote:

Originally Posted by NSanity

Credit is fine so long as you respect it.

But most people dont.

Jackle · 31st October 2007, 2:43 PM

DONT DO FLEXIRENT

I flexirented my current laptop. It was $1,700 and I end up having to pay $2,600 over the 2 years. Hidden costs are a bitch.

Smoke87 · 31st October 2007, 2:46 PM

Quote:

Originally Posted by DiGiTaL_MoNkEY

Dont take things out of context, this was related to goods such as a laptop...not a House.

Yes and said goods being able to be re-possessed at a value that represents the cost to the retailer...in this case, they'd take more than the laptop i think :P

TOX · 31st October 2007, 2:48 PM

Quote:

Originally Posted by Jackle

DONT DO FLEXIRENT

I flexirented my current laptop. It was $1,700 and I end up having to pay $2,600 over the 2 years. Hidden costs are a bitch.

ROFL It's not hidden costs

You say I want to flexirent that over 48 months and they say its $65 a month you say sweet!!!

You should have added up in your head before you took it.

Like I saiad thought Flexirent is great for buisnesses

Lasmi · 31st October 2007, 2:50 PM

Quote:

Originally Posted by TOX

Like I saiad thought Flexirent is great for buisnesses

That's financial advice and poorly given at that. Flexirent CAN be good for some businesses but for many people it won't. Talk to your accountant and see if the tax breaks do offset the huge increase in the cost.

TOX · 31st October 2007, 2:54 PM

Quote:

Originally Posted by Lasmi

That's financial advice and poorly given at that. Flexirent CAN be good for some businesses but for many people it won't. Talk to your accountant and see if the tax breaks do offset the huge increase in the cost.

My tax breaks do!!!

It's good for high income sole traders

dean_is_not · 31st October 2007, 3:01 PM

Quote:

Originally Posted by Jackle

DONT DO FLEXIRENT

I flexirented my current laptop. It was $1,700 and I end up having to pay $2,600 over the 2 years. Hidden costs are a bitch.

I did the exact same thing as this. Works out a crapload more than even if you just put it on a credit card. DO NOT FLEXIRENT!!

So tempted to just call them up tell them I want to cancel it all, pay it out and tell them to f**k off.

TOX · 31st October 2007, 3:18 PM

Flexirent is excatly that RENTING

Renting has never been the best value

Rent a car
Rent a house

Spiderman · 31st October 2007, 4:07 PM

if you're responsible and can do maths, the 40 month interest-free deals can be good. if you can work out exactly how much extra you'll be paying, you can work backwards to figure out how much you need to put in a term deposit to pay out the amount at the end.

dinos22 · 31st October 2007, 4:12 PM

TOX it seems that Flexirent is beyond these guys ROFL

the idea behind rental agreements is that you will want to use that cash and invest into something that will give you a higher return. A good example is a mortgage. If you have one then when you offset Flexirent by the amount of cash you save by purchasing it with this method will outweigh and save you a lot of money in interest repayments over that rental period

kingbob86 · 31st October 2007, 4:45 PM

My father flexirented a desktop from Harvey Norman for 3 years it was around $1700 but in the end cost around $2600. They did let us keep it for free though once the contract expired.

31st October 2007, 1:23 PM	#1
Comma Member Join Date: Mar 2007 Location: Perth Posts: 1,574	"Flexi-rent" A laptop So I want a new laptop, and my friend recently got his on a 40 monhs interest free Harvey Norman deal. I was considering the options and wondering if anyone had experience with this type of purchase. __________________ Comma aka Malachi Keyboardist for Mercurial Ghosts Single Launch - Rocket Room - 28th December

31st October 2007, 1:24 PM	#2
DiGiTaL MoNkEY Digitally Disturbed Join Date: Jun 2005 Location: Melbourne, Victoria Posts: 20,849	Get a copy of the contract you have to sign so you know what fees you have to pay (before you decide to buy it), it may be interest free but there are monthy fees to compensate (which is the main trick) IMO your better off saving up the money for what you want, because 1. You will be able to haggle the price of the laptop when you’re paying cash/card, 2. You won't have a debt hanging over your head and if you don’t pay it, you'll get charged a massive amount. Best advice...dont spend money you don’t have ** Unless you can pay it off quickly without getting charged interest. Last edited by DiGiTaL MoNkEY; 31st October 2007 at 1:32 PM.

31st October 2007, 4:12 PM	#14
dinos22 Member Join Date: May 2004 Posts: 9,738	TOX it seems that Flexirent is beyond these guys ROFL the idea behind rental agreements is that you will want to use that cash and invest into something that will give you a higher return. A good example is a mortgage. If you have one then when you offset Flexirent by the amount of cash you save by purchasing it with this method will outweigh and save you a lot of money in interest repayments over that rental period __________________ dinos22 - Team.AU OCAU Fishing Club Member

31st October 2007, 1:34 PM	#3
TOX Member Join Date: Apr 2002 Location: On the Big Blind Posts: 10,208	Flexirent is differant to GE 40 Months intrest free generally. Flexirent is more of a rental thing. If you add up the total costs it's ussually very high. It works very well from a buisness perspective thought. You also need to do a pay out at the end of the aggreement to own it. GE Intrest free on the other hand is excatly that thought. You have X Months to pay it off with out having to pay interested. There is normally a $20 establishment cost and a $3 a month fee

31st October 2007, 3:18 PM	#12
TOX Member Join Date: Apr 2002 Location: On the Big Blind Posts: 10,208	Flexirent is excatly that RENTING Renting has never been the best value Rent a car Rent a house

31st October 2007, 4:07 PM	#13
Spiderman Member Join Date: Feb 2002 Location: Web City Posts: 2,363	if you're responsible and can do maths, the 40 month interest-free deals can be good. if you can work out exactly how much extra you'll be paying, you can work backwards to figure out how much you need to put in a term deposit to pay out the amount at the end.

31st October 2007, 4:45 PM	#15
kingbob86 Member Join Date: Jan 2007 Location: Toowoomba Posts: 186	My father flexirented a desktop from Harvey Norman for 3 years it was around $1700 but in the end cost around $2600. They did let us keep it for free though once the contract expired.