flexirent im harvey norman

Klasse

Hey all
Since I cant get a loan from my bank for college I have to go this route !!!! Its basically for about 5000 of stuff

There ia no proplem paying the 50 euro of each week ,

I would like to know how this works if you can send a cheque each week as I am not working at the moment I can always send money from my dole to my bank account each week

Good idea or bad in the long run

Atlantic Dawn

To apply for Flexirent you must be:

Aged 18 or over.
An Irish citizen or permanent resident.
Earn more than €12,000 per annum.
Good credit history - credit check will be performed.

http://www.harveynorman.ie/finance-option/flexirent/flexirent-application.html

Toots

OP I'd try your local credit union before going down the flexirent route. Besides, as Atlantic Dawn pointed out, you don't meet the minimum income requirement for flexirent.

Spocker

Remember too the clue is in the name FlexiRent - it's a rental agreement - they buy the goods on your behalf, and rent them to you. At the end of the term, having already paid the price + their % on top, you have to "offer" to buy the items, or walk away. You'll never own the items unless you agree to the buyout at the end, which is an additional cost

+1 for your local Credit Union

dennyk

Klasse wrote: »

Hey all
Since I cant get a loan from my bank for college I have to go this route !!!! Its basically for about 5000 of stuff

That doesn't seem to be how this Flexirent thing works. You don't get money from it, you're paying to rent goods from the store, with the option to buy them at the end of the lease (likely at a vastly inflated cost, on top of the rental fees). You aren't going to get €5000 cash to pay for college through that program. And if you're trying to pay for college while on the dole, you sure don't need to be renting €5000 worth of electronics. What is it you're trying to do here exactly?

boardsuser1

I had a flexirent agreement before. OP for the love of god don't. Even after the agreement they kept taking money out of my account after i paid the balloon payment. I'd rather go without than use flexirent again.

Subcomandante Marcos

dennyk wrote: »

That doesn't seem to be how this Flexirent thing works. You don't get money from it, you're paying to rent goods from the store, with the option to buy them at the end of the lease (likely at a vastly inflated cost, on top of the rental fees). You aren't going to get €5000 cash to pay for college through that program. And if you're trying to pay for college while on the dole, you sure don't need to be renting €5000 worth of electronics. What is it you're trying to do here exactly?

Where did the OP mention paying for college or the dole?

Maybe he's studying multi-media, has a part time job and needs/wants to buy some high end tech for editing and so on?

If he's doing graphic design or video or audio editing he's going to most likely need to have a macbook pro, maybe a twin screen desk setup. It's easy to see where this money could be going.

For the OP.

What usually happens with Flexirent is you rent for the duration of the term, so say 24 months, and then on the 24th month you have the option of making a once off payment to won the item, usually another months rent. So if your "rent" was 200 per month you'd end up paying back exactly €5000, but the value of the goods originally would probably have been in the mid 4000's.

dennyk

Subcomandante Marcos wrote: »

Where did the OP mention paying for college or the dole?

Klasse wrote: »

...Since I cant get a loan from my bank for college...
...I can always send money from my dole to my bank account each week...

Besides which, no one needs to spend five grand on equipment for a video editing college course. If he was running his own professional editing business, then yeah, maybe, but for college he'd most likely have access to some sort of computer lab on campus, or he could buy some older used equipment on the cheap.

Klasse

dennyk wrote: »

Besides which, no one needs to spend five grand on equipment for a video editing college course. If he was running his own professional editing business, then yeah, maybe, but for college he'd most likely have access to some sort of computer lab on campus, or he could buy some older used equipment on the cheap.

Thanka for the reply guys !!!! Its only 50 euro a week !!! Ii earn 188 on the dole and 100 from the folkes and rent paid !!! Not working though

Need these items though

MEGA BRO WOLF 5000

Klasse wrote: »

Thanka for the reply guys !!!! Its only 50 euro a week !!! Ii earn 188 on the dole and 100 from the folkes and rent paid !!! Not working though

Need these items though

Hi op. Not a chance they'll give you 5k credit. Absolutely no way whatsoever.

dennyk

Klasse wrote: »

Thanka for the reply guys !!!! Its only 50 euro a week !!! Ii earn 188 on the dole and 100 from the folkes and rent paid !!! Not working though

Need these items though

Didn't you just post a thread the other day about wanting to get a 10k loan to pay off credit card debt? And now you want to go even deeper into debt to buy a bunch of new stuff? You really need to sit down and sort out your personal finances before you go on a shopping spree, I'd say.

What are these items that you need so badly? Maybe some folks can offer some suggestions as to alternatives that would be cheaper in the long run than paying inflated rent-to-own prices for brand new stuff.

TheChizler

Also (and I may have picked this up wrong from the limited information) but if you're starting college you won't be able to continue claiming the same welfare as before so that might not be a viable way of paying off debt.

MEGA BRO WOLF 5000

I enquired a few weeks ago about financing a Tv from HN, perfect credit history, full time PERMANENT job etc. Max they'd give me is €1500. I'm sorry op but a student on the dole won't get 5k...and if they did give you 5k that would be highly irresponsible.

Klasse

ok guys thanks for the replys

ytpe2r5bxkn0c1

Klasse wrote: »

Thanka for the reply guys !!!! Its only 50 euro a week !!! Ii earn 188 on the dole and 100 from the folkes and rent paid !!! Not working though

Need these items though

When did they start giving dole to a student in college?

vandriver

Flexirent charges over 50% interest .Just don't .
Your payments would be more like 75 a week.

pirhue

Run as far as you can from FlexiRent. You don't own the item after payment like any other finance agreement. Their interest rates are also way higher.

BetsyEllen

You won't qualify, they're very strict in who they lend to and you won't get it with just the dole.
It's also an expensive option; you have to pay extra at the end to own the items.

Also, the only thing I can imagine a college student 'needing' is a laptop?
And if you can't afford a new one then save what you can and get a refurbished one.

Do NOT take out €5k of debt, it's madness.
I'm 30 and wouldn't take a loan for anything, bloody madness.
I learnt the hard way though and went on a credit card spending spree when I was 18. Not a good idea.