Argos Buy now Pay later

DylanC431

I was wondering if when you use the Argos buy now pay later scheme, do you get your item(s) after you pay the deposit or do you have to wait until the full balance is paid before you get them?
I was thinking of using this for a Christmas present seeing as its put less pressure on me for Christmas and paying for all the rest... A reply would be appreciated, thanks

ytpe2r5bxkn0c1

You get the items when you paytghe deposit. You do realise this isa H.P. scheme with 23% interest, don't you? A credit union loan would be a fraction of the cost.

http://www.argos.ie/static/StaticDisplay/includeName/BuyNowPayLater.htm

Also make sure you read all the terms and conditions before signing up.

recyclops

This was how myself and now another 5 of my friends picked up our xbox one.

we all paid 60 upfront then over the course of 6 months i paid off extra cash when i had it. We didnt have to pay any extra as the full amount was paid within 6 months and that was that.

The agreement is with a separate company who do not make any applications to your Direct Debit until 6 months after the deposit date and they only apply if you haven't paid it off. The website allows you to make payments of different amounts and 24 hours a day.

all in all a great system and if you stick to the agreement and pay within the 6 month window i wouldn't fault it at all, i know my friends are the same. We all paid within different time frames also as some paid weekly and some monthly.

RoboRat

Amaris Nutty Scalp wrote: »

You get the items when you paytghe deposit. You do realise this isa H.P. scheme with 23% interest, don't you? A credit union loan would be a fraction of the cost.

http://www.argos.ie/static/StaticDisplay/includeName/BuyNowPayLater.htm

Also make sure you read all the terms and conditions before signing up.

You only pay interest if you don't pay within 6 months. Otherwise its interest free. I actually think its a good idea, better than paying loan sharks and the likes.

keithclancy

RoboRat wrote: »

You only pay interest if you don't pay within 6 months. Otherwise its interest free. I actually think its a good idea, better than paying loan sharks and the likes.

If you have the money now you may as well pay now, you don't know what happens in 6 months time.

Also, if someone is going to a Loan Shark to borrow money for a XBOX they would need to be admitted to hospital :pac:

recyclops

keithclancy wrote: »

If you have the money now you may as well pay now, you don't know what happens in 6 months time.

Also, if someone is going to a Loan Shark to borrow money for a XBOX they would need to be admitted to hospital :pac:

tbh it was more to do with the fact that being paid monthly it would either be me saving a small bit each month then getting it or getting it and paying off a small bit each month.

i dont generally have 450 (at the time ) upfront while continuing to pay everything else

i viewed it as the same as saving except i had the product ( in my case an xbox) quicker

though i am extremely comfortable and safe in my job :D

RoboRat

If you have the money now you may as well pay now, you don't know what happens in 6 months time.

The point is that people may not have the money at the time. I know from personal experience that I have money put aside but it constantly gets dipped into whereas I always manage to pay my bills on time. Might just be an Irish thing or just me? I like the idea of being able to spread the cost over 6 months rather than saving it and having the temptation to dip into it!!!

Also, if someone is going to a Loan Shark to borrow money for a XBOX they would need to be admitted to hospital

100% agree but people do it unfortunately. Another Irish trait of having to keep up with the Jones's... if you cant afford an xbox and your kid wants one you need to be able to manage their expectations - I know mine were when I was a nipper but it seems that has gone out the window.

ytpe2r5bxkn0c1

RoboRat wrote: »

The point is that people may not have the money at the time. I know from personal experience that I have money put aside but it constantly gets dipped into whereas I always manage to pay my bills on time. Might just be an Irish thing or just me? I like the idea of being able to spread the cost over 6 months rather than saving it and having the temptation to dip into it!!!



100% agree but people do it unfortunately. Another Irish trait of having to keep up with the Jones's... if you cant afford an xbox and your kid wants one you need to be able to manage their expectations - I know mine were when I was a nipper but it seems that has gone out the window.

It is not an Irish trait. It, if anything, is a human trait. The UK has much more in the way of money lenders, HP etc than we do. And they buy beyond their means as much as we do.
I know many more people who will not buy what they can't afford to pay for at the time and who save for purchases. You can't generalise.

clint_silver

you mean like wongas 5000%+ interest?

https://www.wonga.com/organic/cash-loans/

Amount of credit: £150 for 18 days. Interest: £27.99. Interest rate: 365%pa (fixed).
Transmission fee: £5.50. One total repayment of: £183.49. Representative 5853% APR.

dobsdave

clint_silver wrote: »

you mean like wongas 5000%+ interest?

https://www.wonga.com/organic/cash-loans/

Are you comparing this to the Argos deal?

keithclancy

RoboRat wrote: »

The point is that people may not have the money at the time. I know from personal experience that I have money put aside but it constantly gets dipped into whereas I always manage to pay my bills on time. Might just be an Irish thing or just me? I like the idea of being able to spread the cost over 6 months rather than saving it and having the temptation to dip into it!!!



100% agree but people do it unfortunately. Another Irish trait of having to keep up with the Jones's... if you cant afford an xbox and your kid wants one you need to be able to manage their expectations - I know mine were when I was a nipper but it seems that has gone out the window.

I must have caught German, If I don't have the money then I can't afford it. If I take out loan to buy something then it inhibits my ability to save money and the circle of taking out finance to get things becomes the norm rather than saving up for something being the norm.

The only time I would consider finance (if I was stuck) would be for something really essential, like a cooker/washing machine/Central Heating boiler/fixing a roof leak/burst pipe.

For luxuries I would never dream of taking out finance (even interest free)

My savings I treat like a normal deduction from my salary like Tax and stick it in an account for a rainy day, or to save up for a large purchase (e.g. a car)

To be honest you never know what happens 6 months down the road, when you have a reduced income small debts are things that can very easily become a problem, Credit Cards, Phone contracts, Finance etc... they can all creep up on you and if you cannot pay then they balloon into more costs which become even harder to pay on a reduced income.

The best method is to shop around for the best deal with cash you have saved in your pocket rather than go for the deal where you can get it now and pay later, they wouldn't have these offers unless they made money from them.

Gringo180

keithclancy wrote: »

I must have caught German, If I don't have the money then I can't afford it. If I take out loan to buy something then it inhibits my ability to save money and the circle of taking out finance to get things becomes the norm rather than saving up for something being the norm.

The only time I would consider finance (if I was stuck) would be for something really essential, like a cooker/washing machine/Central Heating boiler/fixing a roof leak/burst pipe.

For luxuries I would never dream of taking out finance (even interest free)

My savings I treat like a normal deduction from my salary like Tax and stick it in an account for a rainy day, or to save up for a large purchase (e.g. a car)

To be honest you never know what happens 6 months down the road, when you have a reduced income small debts are things that can very easily become a problem, Credit Cards, Phone contracts, Finance etc... they can all creep up on you and if you cannot pay then they balloon into more costs which become even harder to pay on a reduced income.

The best method is to shop around for the best deal with cash you have saved in your pocket rather than go for the deal where you can get it now and pay later, they wouldn't have these offers unless they made money from them.

Baaaah Humbugg!

galwayjohn89

keithclancy wrote: »

I must have caught German, If I don't have the money then I can't afford it. If I take out loan to buy something then it inhibits my ability to save money and the circle of taking out finance to get things becomes the norm rather than saving up for something being the norm.

Fair enough thats your opinion. I love taking out debt. I'd say you'd be shocked when I tell you I have around 8k in loans/credit card debt and I'm a student with no real job. However, I have never paid a cent in interest instead I have earned far more interest in my savings account.

I love credit and credit cards. If used smartly you can make a lot of money and benefits (although limited in Ireland).

Even if I had the money upfront, I would use the argos pay later. Stick the money in the savings account. Granted would only be around 50c in interest but better in my pocket.

keithclancy

Vuzuggu wrote: »

Fair enough thats your opinion. I love taking out debt. I'd say you'd be shocked when I tell you I have around 8k in loans/credit card debt and I'm a student with no real job. However, I have never paid a cent in interest instead I have earned far more interest in my savings account.

I love credit and credit cards. If used smartly you can make a lot of money and benefits (although limited in Ireland).

Even if I had the money upfront, I would use the argos pay later. Stick the money in the savings account. Granted would only be around 50c in interest but better in my pocket.

Must be still living at home with your parents ?

slimjimmc

Posters. Focus on the topic not each other. Thanks

galwayjohn89

keithclancy wrote: »

Must be still living at home with your parents ?

Nope.

keithclancy

Vuzuggu wrote: »

Nope.

Living on Campus then I guess ?

Interest free credit only lasts so long on 0% transfers with credit cards and eventually you run out of companies to transfer to.

8k is not that much, I knew a guy that had 60k in Credit Card debt.

Another guy I know had 87k Sterling in CC Debt up until around 8 months ago, he's consolidated it now in to some sort of less high interest loan.

You are right, the reward plans in Ireland are crap, in the Netherlands too. Nectar in the UK and Tesco Visa are slightly Interesting but the benefits on Nectar are factored into the prices.

In Germany these reward systems don't do well, people realise that the benefits are not free and the money comes from somewhere, its just factored into the prices you purchase items at.

Just keep in mind the banks throw money at Students for a reason, the same reason companies give EDU Discounts.

In any case I hope your strategy continues to work out for you, just don't let it get out of control.

Buying on tick is not a good habit to get into, even though banks/lenders/companies makes it very attractive.

galwayjohn89

Yes living on campus, although private renting actually works out cheaper.

8k isn't much but for someone who in the eyes of the bank has no steady income it's quite a bit. My point is, I cannot stand people who think people who buy stuff on credit are making mistakes, some people even try to make it out to be morally wrong. People go on from their high horse about how they were brought up to live within their means. Yes people get carried away. Yes people get into cripple debt. But if used properly loans, credit cards, credit purchases can work out to be extremely beneficial. Without credit cards, my brother (who lives in America) wouldn't come home to visit half as much as he does. I wouldn't be getting my oil changed on my car for free, getting free games of pool and bowling, getting free pizza, getting free ferry trips etc.

I much prefer to put off paying for something and keep the money in my savings account just in case. Then again I play the system to my advantage probably so much so that it could be classified as an addiction!

keithclancy

Vuzuggu wrote: »

Yes living on campus, although private renting actually works out cheaper.

8k isn't much but for someone who in the eyes of the bank has no steady income it's quite a bit. My point is, I cannot stand people who think people who buy stuff on credit are making mistakes, some people even try to make it out to be morally wrong. People go on from their high horse about how they were brought up to live within their means. Yes people get carried away. Yes people get into cripple debt. But if used properly loans, credit cards, credit purchases can work out to be extremely beneficial. Without credit cards, my brother (who lives in America) wouldn't come home to visit half as much as he does. I wouldn't be getting my oil changed on my car for free, getting free games of pool and bowling, getting free pizza, getting free ferry trips etc.

I much prefer to put off paying for something and keep the money in my savings account just in case. Then again I play the system to my advantage probably so much so that it could be classified as an addiction!

In your examples.

I change my oil and consumables myself, I don't really trust a Garage to do it properly or use the correct grade of oil.

On the flights, I've managed to fly return to New York for 138 euros including a stopover in Geneva and Venice (being the best one) the most expensive I would have paid is 420 euros return to Sri Lanka.

My Phone is prepaid
My Gas/Electric/Water is evaluated when a contract rolls over to get the best price.

My issue with up front credit isn't that its immoral or whatever, it's just the perception that it's free.

E.G. Car Finance, Home Furniture, Phone Contracts, Electronics.
The finance is just factored into the price, if you pay cash or shop elsewhere its always cheaper. You can walk into a car dealership and knock a bunch of money off the price of a new or even second hand car, where as on finance this is not possible.

And Android/iPhone for 99 euros seems like a deal but then you factor in the 24 months contract with unlimited minutes and SMS that people never use then its not such a good deal anymore and your tied into the contract so your choices to change are limited.

At the moment you live in Student Accomodation so your monthly outgoings are pretty basic.

The interest rate on your account would be pretty poor, less than 1% I would guess. That's not really you working the system, that's the system working you to give the perception of cost free credit and something for nothing.

Nothing is ever free and really if you didn't pay any money then the product was you (your personal information or information on your friends)

Since I don't have any outstanding loans/finance or contracts, I can up and move to another county for 6 months with relative ease and minimal management at my home country.

After the bust in Ireland the people in real trouble were the ones with all these small loans and contracts, it turns into the death of a thousand cuts.

dobsdave

Vuzuggu wrote: »

. Without credit cards, my brother (who lives in America) wouldn't come home to visit half as much as he does. I wouldn't be getting my oil changed on my car for free, getting free games of pool and bowling, getting free pizza, getting free ferry trips etc.

How is having a credit card getting you all this free stuff?

galwayjohn89

keithclancy wrote: »

In your examples.

I change my oil and consumables myself, I don't really trust a Garage to do it properly or use the correct grade of oil.

I used to do that myself, much easier to let someone else do it for me. I check the oil before they do it and watch them do it. A lot easier and free. Well takes around 30 minutes of my time to get it for free.

keithclancy wrote: »

On the flights, I've managed to fly return to New York for 138 euros including a stopover in Geneva and Venice (being the best one) the most expensive I would have paid is 420 euros return to Sri Lanka.

BOS-DUB*-SIN-HKG-SYD-DUB-BOS all in first class for €800 for 2 people thanks to credit card.

keithclancy wrote: »

My Phone is prepaid
My Gas/Electric/Water is evaluated when a contract rolls over to get the best price.

I have a business contract at the moment as I needed one. But before had free credit whenever I wanted thanks to credit cards.

keithclancy wrote: »

My issue with up front credit isn't that its immoral or whatever, it's just the perception that it's free.

It is free for me though. I haven't paid a cent. Although I would agree with you on mobile phones, car finance etc. But in this case the argos buy now and pay later is free if you use it correctly.

keithclancy wrote: »

The interest rate on your account would be pretty poor, less than 1% I would guess. That's not really you working the system, that's the system working you to give the perception of cost free credit and something for nothing.

4.5% at the moment for my Irish account, less dirt + €100 bonus for opening the account.

Nothing is ever free and really if you didn't pay any money then the product was you (your personal information or information on your friends)

Since I don't have any outstanding loans/finance or contracts, I can up and move to another county for 6 months with relative ease and minimal management at my home country.

As can I. I just pay of the loans tomorrow, only difference is, I wouldn't be paying for the flights!

After the bust in Ireland the people in real trouble were the ones with all these small loans and contracts, it turns into the death of a thousand cuts.

Or those who decided to jump on the property ladder and now blame the banks instead of taking responsibilities for their actions.

galwayjohn89

dobsdave wrote: »

How is having a credit card getting you all this free stuff?

Credit Card + Manufactured Spend + Airmiles. Granted people probably won't go to the same extremes as I do, and it does take a bit of effort but I enjoy. I like getting round trip to Florida for €50, buy just buying empty ink cartridges and sending them off to Tesco.

slimjimmc

Thread has veered off topic and the OP's question has been answered.
Closed.