Flexirent/Harvey Norman

dragona

Does anyone have any info on this scheme?? I have googled but come up with nothing except http://www.boards.ie/vbulletin/showthread.php?t=2055330852&highlight=flexirent
Does not seem so brilliant, but its the only info I could find! Thanks....

Antigone05

i have flexirent'ed a laptop myself.

its great, i didnt want to pay out 999euro for a laptop so i went for the 36 month contract and pay about 38 euro a month, which includes insurance

yeah im leasing it, but i knew that and the salesperson explained that to me.i can upgrade nearer the end of the contract if i want or offer to purchase it.

as i said, it was perfect for me cause i didnt have the cash. it only takes a few minutes in the store to find out too.

ongarite

Antigone05 wrote: »

i have flexirent'ed a laptop myself.

its great, i didnt want to pay out 999euro for a laptop so i went for the 36 month contract and pay about 38 euro a month, which includes insurance

yeah im leasing it, but i knew that and the salesperson explained that to me.i can upgrade nearer the end of the contract if i want or offer to purchase it.

as i said, it was perfect for me cause i didnt have the cash. it only takes a few minutes in the store to find out too.

To me that seems like a poor deal. Personally I think leasing anything is a waste of money as you have no asset when the contract is finished.

Instead of getting laptop for €999, you are instead paying €1368 (36X38) over 3 years. A bank loan would be cheaper and you physically the laptop own the after the loan term and will more than likely re-coup 25-30% of original cost of laptop selling it 2nd hand.

Instead the lease company, are getting €1368 for €999 laptop which they will then sell onto a school or the like for more profit.

the_syco

What happens if it gets damaged?

Mr E

If its damaged, they'll repair it (you are paying insurance on the item).
I think one of the terms of Flexirent is that you can make one additional payment at the end to keep the product forever.

I was looking into this a few months ago (I was thinking of getting a DSLR camera). I looked around and realised HN were charging 999 for a camera that was about 700-800 everywhere else.

dragona

Antigone05 wrote: »

i have flexirent'ed a laptop myself.

yeah im leasing it, but i knew that and the salesperson explained that to me.i can upgrade nearer the end of the contract if i want or offer to purchase it.

.

Offer to purchase as in how? Make em an offer, or 5 extra payments, or what???
I realise it is paying through the nose, but might be a solution (albeit one that pisses one off!) for those of us who have no ready dosh and need something....like me:o

Mr E

See my previous post, dragona.

dragona

Mr E wrote: »

See my previous post, dragona.

Ah yes, sorry! I'm not awake..:D

ssmith6287

Im working for harvey normans, I have a ps3 and a laptop on flexirent and its great. basically ya pay a set payment evry month, no upfront payment. yer insured while yer paying it off. After youve paid the 12, 24 or 36 months you OWN it. the buy out clause in it is they ring ya up 3 months before yer cotract is over and ask if ya wanna upgrade the product or keep it. if ya upgrade, they let ya keep yer current product + they put the last 3 payments onto the new product. if ya wanna just keep it they ask to meed in the middle so basically ya pay 1 and a half out of the last 3 months and its yours. like any finance company, the longer u take to pay the more expensive. I took mine out over a year and i save 25€ on what i wudve paid with cash + im insured and have a credit rating in australia so its easier if i go over to get a bank loan. great deal, would highly recomend it

Big Tone

That Flexirent sounds like a scam....but is it?

Flaccus

By the way, Flexirent does not cover you if you drop it/break it/someone steals it etc... Only faults covered by the manufacturers warranty are covered in the standard flexi rent contract. That's why Harveys encouraged my mate who bought a macbook on flexi, to take out an extended warranty (which I assume covers against accidental damage, theft etc..). He opted instead to buy applecare off ebay. As for your final payment, it was explained to him it would not be more than half of the last 3 repayments usually (as a previous poster said). But it also depends on what the product is worth. So they encourage you to make an offer.

Nody

So Flexirent offers you insurance against what you're already covered by law; talk about profit cow! :pac:

Flaccus

Eh ?

Does leasing a product legally cover you against accidental damage/theft /loosing it - from the leaser or manufacturer ? It wasn't included in my mates flexi rent contract as far as I remember. Although I know it is part of the standard agreement with FR in NewZealand and Australia, I am not so sure about Ireland. I'll check it out later with him and have a read of the contract.

[edit]
I just rang him...I stand corrected...Flexirent covers you against theft, damage etc..as people have said here, but manufacturing defects are only covered for as long as the warranty is with the manufacturer. That's why they encouraged him to buy an extended warranty, but seeing as he had accidental damage, theft cover already as standard, he just went with apple care to cover against any defects down the road seeing as it was a notebook and more prone to issues than say a desktop.

drog5920

Flaccus wrote: »

By the way, Flexirent does not cover you if you drop it/break it/someone steals it etc... Only faults covered by the manufacturers warranty are covered in the standard flexi rent contract. That's why Harveys encouraged my mate who bought a macbook on flexi, to take out an extended warranty (which I assume covers against accidental damage, theft etc..). He opted instead to buy applecare off ebay. As for your final payment, it was explained to him it would not be more than half of the last 3 repayments usually (as a previous poster said). But it also depends on what the product is worth. So they encourage you to make an offer.

not tru mate, i got a laptop with flexirent. you are fully covered by their insurnce, but insurance doesnt cover a manufacturer fault. if yer mouse fails i dnt fancy smashing up d laptop jst to try nd fool d insurance. haggled with one of the lads on the warranty. not a bad deal. i reckon it could have commission in it because i was lookin at their interest free option and he lowered the price to match it so technically im not paying anymore then i would have. i quite enjoy goin into the hardly normal shops cos the lads look after ya if they recognise ya, small things but its more then their rivals will do

johnjo1984

Hey Lads,
I have been talking to harvey Normans and the flexirent people and just to clarify Flexirent is a rental agreement (hence the name flexirent) so its not a lease and u dont automatically own it at the end. However u can own it if you want all you do is make an offer to buy it at what u think its worth and the highest it will ever be is two months repayment!!! also for the length of time u have a flexirent you are also covered for accidental damage, loss and if the item is stolen..... Upgrading at the end of the agreement is a good option as if you upgrade at the end you can keep the goods for 1 extra payment and go on to a new contract.


I mean at the moment with the recession and that its quite a good option as there small monthly payment and even if the interest rate goes through the roof the payments stay the same so if u look at it this way.... who at the moment can afford to go in and buy a 1000 euro laptop straight out ( not many) but who can afford about 60 euro a month for 2 years and get the laptop today (most)

parsi

and in which HN store do you work ?

jor el

No, no. He just really, really, really, really, really, really likes Flexirent...

Flaccus

drog5920 wrote: »

not tru mate, i got a laptop with flexirent. you are fully covered by their insurnce, but insurance doesnt cover a manufacturer fault. if yer mouse fails i dnt fancy smashing up d laptop jst to try nd fool d insurance. haggled with one of the lads on the warranty. not a bad deal. i reckon it could have commission in it because i was lookin at their interest free option and he lowered the price to match it so technically im not paying anymore then i would have. i quite enjoy goin into the hardly normal shops cos the lads look after ya if they recognise ya, small things but its more then their rivals will do

if you read my post above you will see I corrected myself before you posted

soc

dragona wrote: »

Offer to purchase as in how? Make em an offer, or 5 extra payments, or what???
I realise it is paying through the nose, but might be a solution (albeit one that pisses one off!) for those of us who have no ready dosh and need something....like me:o

I refer to this as the Veruca Salt Syndrome (from Willy Wonka & The Chocolate Factory)... 'I want it NOW Daddy!!!!'

TBH I read your post, and instantly I thought of THIS

If I could find an actual video of it, I would have posted it.
Found a video

IMO any lease/hire purchase agreement is a waste of money... ESPECIALLY if you're buying a laptop! Those things depreciate at a massive amount! So, (johnjo1984 this is esp for you) if your laptop you want now is 1000 euro, there is NO WAY in hell it's gonna be worth 1000 euro in 2 years time.... when you've finally finish paying off the thing! It will probably be only worth 200-300 euro.

Basically, if you can't afford the thing, then DON'T BUY IT and esp stay away from this rubbish HN 'deal'! What a rip-off!

Look, even this ARTICLE IN THE TRIBUNE says to stay away from HN Flexirent. You're throwing away good money... for something you won't actually own in the end. It would be cheaper to buy the thing on a credit card then go with HN plan, their plan is THAT insane

drog5920

FROM A BUSINESS POINT OF VIEW IT WORKS OUT CHEAPER THEN PAYIN CASH SO IM HAPPY

ssmith6287

SOC does that not refer to pretty much evrything you need to get a loan for??

Anyway back to flexirent.

2 ways of looking at it, 1 I want to keep this laptop for the rest of my life. If this is your attitude then ok, but most people know how often technology and especially computers change. So the other way of looking at it is. Ive got €350 cash, the machine I want or in alot of cases need cost €700. heres where flexirent is good. Realistically a €700 laptop is gonna be worth €400 new in 6 months, bearing that in mind, you take the machine out on a 1 year term. 9 months down the line flexi ring you up to see how you are getting on with the machine. at this stage you have not paid the full €700 you would have forked out in cash. so they ring you, they ask if you would like to upgrade your machine, If you say yes then they wave the last 3 payments and start you on a new contract with a newer better machine. Thats how you save money!! Now if you want to keep the equipment you simply pay the last 3 months and then offer a very small amount, generally less the €30 to keep the machine. while your in contract your fully insured, and your rate never goes up despite economic climate or the amount of times you use the insurance.... now thats the evryday customer

Its business where you make the real savings.... If you are a sole trader you claim your vat back (as with most transactions) but with flexi you can also claim 100% tax back, thats up to 42% of the total lease. example your lease comes to €1000, you get €210 Vat back and €420 tac back, thats €630 back, that means the computer would cost the company €370. Same applies to a LTD company just obviously its a lower rate.

before anyone asks yes i work for harvey norman, big deal. Im just clarifying something. If you think its good then great, if not well fair enough

soc

ssmith6287 wrote: »

SOC does that not refer to pretty much evrything you need to get a loan for??

Ahhh, but at least with a loan you own the thing outright... while the HN you have to 'top-up' to 'buy' the thing - if you don't, then ALL the money you paid per month is thrown away, and the thing gone - you have no asset.

Folks, check out this blog here for the tripe that HN salesman spit out about their 'value plan'. Pretty much everything ssmith spouts is what this blog is warning you to stay away from and ignore - it's a sales pitch.

Have a look at this article as well.

This plan has been about in Australia for ages... and alot of people warn you to stay away from the Flexirent plan.

Tell us ssmith, what EXACTLY is the APR on the HN deal?

astrofool

A laptop (or most electronic devices) will be worth virtually nothing after three years, it seems quite a good idea from that point of view (akin to a lease).

People in Ireland look at "rent" as dead money, but it's not, it's paying for a service.

madmik

HN are not doing this flexirent for the good of the customer

theyre doing it for PROFIT,they make more PROFIT with this bollox than with selling then laptop outright

laptop cost 1000 at HN
1400 over 3 years
buy for €50
total cost 1450
sell for €200
cost for 3 years ownership :€1250

go to pricerunner.co.uk
find same laptop in uk for £699-€750
after 3 years sell laptop for €200
cost for 3 years ownership :€550

who in their right mind would pay 1250 for something that could be intelligently purchased for 550??

Come on harvey,explain it to me ?

TestTransmission

madmik wrote: »

HN are not doing this flexirent for the good of the customer

theyre doing it for PROFIT,they make more PROFIT with this bollox than with selling then laptop outright

laptop cost 1000 at HN
1400 over 3 years
buy for €50
total cost 1450
sell for €200
cost for 3 years ownership :€1250

go to pricerunner.co.uk
find same laptop in uk for £699-€750
after 3 years sell laptop for €200
cost for 3 years ownership :€550

who in their right mind would pay 1250 for something that could be intelligently purchased for 550??

Come on harvey,explain it to me ?

An idiot

Spectreon666

Im looking to get a Ps3, 2 games and a HD Tv for about 800euro on Interest free credit for 13 months. If I cant get the Finance for that does that mean I can go flexirent? Would I have any problem getting that?

Rafloution

Wait till you can afford it, thats the best advice

ssmith6287

erm interest free finance is another thing altogether. It is supplied by Creation Finance, Evrything is done over the computer. Just call in somewhere and ask. Only conditions are you need full driving licence or passport, current bank statement or utility bill and you need to pay 10% deposit on a chip and pin card

Spectreon666

yeah but if i don't get the finance what are my options then? I have no outstanding debts and always pay my bills on time but I know people who have done the same but are still refused finance!

ssmith6287

if you dont get approved then negotiate a cash deal. unfortunately harvey norman has no say in intrest free finance or flexirent, theyre both registered companies. its tricky enough to get finance nowadays on anything. it takes a max of 15 mins so its worth a try

gempots22

Hi
I purchased a laptop from HN on 24 months interest free just befor Christmas and today a crack has appeared in the lcd sceen. I'm not sure how it happened as I haven't dropped or damaged it but looking onlineI know that it will be assumed that it was accidental damage. I got 4 years extended warranty but this doesn't cover accidental damage and although I haven't damaged it and have no idea how it was caused I know that the extended warranty will be voided because of accidental damage.
However I'm now wondering whether I will be able to get it fixed because its on finance and no where near paid off. I really hope so as I can't afford to repair it at the moment and its really disheartening to think I may be paying another 1000 euro for a product that is broken 250 of which is for a warranty that doesn't repair my damage.
Can anyone shed any light on whether I will be covered?

Antigone05

you wont be covered. unfortunately cracks dont appear out of no where and if you dont know what happened to it then someone is fibbing to you.

thecutter

What are flexi rent like if you have a bad credit rating?

Mr E

Well they check your credit rating (and they're pretty strict), but its worth a shot.
Better off getting a loan in credit union to be honest.

noodledog

Just so ye all know (and I got nothing but **** for this over in the consumer boards...)

Flexirent will not cover accidental damage. I tried to ask for help on the other board but got nothing but smartass responses. If you break it, they'll pull out clause 26 of your contract and only offer to buy you out of your remaining payments.

To my knowledge (i've been digging), i've been hard pressed to find anyone who has had this statement they make honoured.

"Lost? Damaged? Stolen? We'll Replace It!"

Load of lies.

I know this because they won't replace a 20-month old laptop, which would be cheap to replace. So if they won't replace oldish **** after 20 payments have been made I wouldn't hold my breath on getting anything newer looked after either.

jor el

noodledog wrote: »

Just so ye all know (and I got nothing but **** for this over in the consumer boards...)

This is the consumer board, and your last 2 threads on this subject were locked for a reason.