Laptop on finance

galwaydude18

hi,
I am a studnet looking to buy a laptop on finance. i have already tried dell (useless b******s), the sony centre here in athlone as well as cantec! i have been turned down for finance in both the sony centre as well as cantec. dell just wouldn't give me an answer. so my question to you guys out there is there any way i can get a laptop on finace without any hassle. i would prefer not to get a loan from the bank or credit union if at all possible. i would like to have the laptop by the end of next week. Thanks in advance"!!!!

Devious

Have you a credit card? Although you will probably need a limit of at least a grand to be any use to you. A bank loan is an other option, should have no problem getting a loan of €1000 - €1200.

galwaydude18

yes i do have a credit card but my limit is only €600! i would prefer not get a loan as i was a victim to interner fraud last feburary that has cost me €5,500! i have to pay this back to the bank for the next 7 years!!! it was a fraud that was going around on the buy and sell website and i fell for it!

maxheadroom

galwaydude18 wrote:

yes i do have a credit card but my limit is only €600! i would prefer not get a loan as i was a victim to interner fraud last feburary that has cost me €5,500! i have to pay this back to the bank for the next 7 years!!! it was a fraud that was going around on the buy and sell website and i fell for it!

You realise that buying a laptop on finance is a loan. You get a loan from the finance comapny, they buy the laptop and it gets delivered to you. you don'y own the laptop until you make the last payment.

The €5500 debt has probably knackered your credit rating. That, and the fact that you're a young student means you're unlikely to qualify for a finance package from a computer store or from Dell. If you do manage to get finance, he interest rate would be huge.

The local credit union would probably be your best bet.

pencil

Tell us about the "fraud that was going around on the buy and sell website"

Interested to know & it might save someone here!

dub45

galwaydude18 wrote:

hi,
I am a studnet looking to buy a laptop on finance. i have already tried dell (useless b******s), the sony centre here in athlone as well as cantec! i have been turned down for finance in both the sony centre as well as cantec. dell just wouldn't give me an answer. so my question to you guys out there is there any way i can get a laptop on finace without any hassle. i would prefer not to get a loan from the bank or credit union if at all possible. i would like to have the laptop by the end of next week. Thanks in advance"!!!!

Just from the point of view of not getting yourself deeper into trouble - you are paying back a debt of 5500 euros - you are a student so cannot be in a postion to earn a whole lot even if you could get the best finance deal in the world how can you possibly afford to pay for it? It sounds to me as if the Sony Center, Cantec and Deall may ultimately be doing you a favour and why if you are os desperate for the laptop are you wary of going to a credit union?

Do you really need a laptop that urgently? Is there no other way for you to manage whatever you have to do? Sorry if I am coming over all grandfatherly and all that but having a bad credit rating can really mess you up later no so don't do anything to worsen your situation.

pwwillia

try the esb then?

dub45

pwwillia wrote:

try the esb then?

Just be aware that the APR in the ESB is 22.9% which means that a laptop which costs €1500 'cash' ends up costing you €2300 approx if you pay over 5 years.

FranknFurter

Steer well clear of ESB "deals", they screwed me bigtime.

tba

if you have any ahheemmm.... special needs your college might be able to give you a laptop.

[nicK]

dub45 wrote:

Sorry if I am coming over all grandfatherly and all that but having a bad credit rating can really mess you up later no so don't do anything to worsen your situation.

going off topic here..
i know having a bad credit rating can mess you up for other contracts/loans etc.. but doesn't your credit rating get cleared every 5years or something?

LastIrishMonkey

I hear the CREDIT UNION acalling tbh wack that 600€ into them see what they can do for ya thaz how i got mine

Andrew Fotzpatr

on the topic u know when u see a laptop and it says 1200 euro or 10.99 euro a week..what happens if u miss one of these payments..anyone here miss one? i was thinking of getting a laptop this way

jor el

Most, if not all of those finance options are a complete scam. They they tend to offer 0% for one year, in which time you pay about half the amount you owe. Then at the end of the year they give you the option of contiunuing the finance with the same monthly payment, but for a further two or three years, usually at 29.9% APR. If you don't have the cash to pay off the due amount at the end of your first year you're quite screwed.

Also, miss just one payment and the 0% interest offer ends. They'll also back charge the full interest amount to the beginning of the loan. So you'll end up paying 30% extra on what you've already paid off and what you still owe.

Most shops, like Curry's, PC World, Dixons, will also try to get you to buy the extended warrenty on a laptop too. This is also a con. They're usually quite forcefull in trying to get you to buy them too. Don't be fooled though, it's a waste of money.

I know this doesn't really help you glawaydude, but it seems you can't afford to buy a laptop right now. Finance is just another high interest loan, which is something you could probably do without right now. Have you tried the Credit Union though, I'd say that's your best bet.