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High purchase......What the hell????

Written by blueroze from the blog what's in a name on 02 Sep 2009
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High purchase…….What the hell????????

Ok, here I was so desperate to buy this coffee table and plasma stand in a reputable Furniture shop.
Not a TOWN TALKing kinda shop a YOU’RE THE DIFFERENCE kinda shop.

Now these two amount to R7000.00
And for the first time in my life I actually thought I will buy furniture on account.
Don’t shoot me, I don’t know what I had smoked yesterday.
Tjo when I saw the quote it was a total amount of R15000.00

Tjeer I stopped everything right there. Ok I’m lying I was scared and asked the sales lady I need to go and I will come today in the morning to finish my application.

This morning I called her and asked her to consider what we were doing yesterday crap…ok I’m lying again. I said “mama ke kopa o cancel application ya me cause ga ke sa batla go reka ka account. Ke tla raise the amount and come buy cash.”

I don’t want to be paying for a stand for the rest of my life and not be able to buy me a house.

Guys have you bought a furniture on account?

I don’t think I can do that, I mean there was a line item that said
Transport………................................................R410
I mean what the hell for?
She said the goods are straight from the warehouse and not the shop.
I don’t care where the goods are at, I wanted to pay nothing for transport seeing that the store is 5 min drive from where I stay.

Why are they ripping people off like this???
Are you a victim of making a rushed uncalculated risk?
How has this affected you?

~~please note that just because i used these pic, does not mean i actually wanted to buy this goods. the pic is for demo purposes nothing more.~~

40 Comments

blueroze
02 Sep 2009 11:33

but that table....i'm buying it end of the month cash!!!!

lady gaga
02 Sep 2009 11:38

lol @ blueroze - o a gafa mzala...................lmaol

blueroze
02 Sep 2009 11:42

LG----le nna ga ke itse ne ke nwele eng maabane....but at least it was a 24hour bug. ths morning i'm sorber as a judge...not the one who hit the wall though lol
qui qui

Toxic
02 Sep 2009 11:56

hehehehehe Broze. I went to House and Home the other day to buy a no turn mattress, the price was 5k neh. and i figured i could pay that off in instalments mara when i went back after my application had been approved, i'm told i have to pay for compulsory insurance to the sum of some R1500. and i told them my hosuehold contents were insured and she says no, it's insurance against me not being able to pay one day so i ask if i'll get that money back once the account is paid up and she says no. so i told her, no thanks, i'll go elsewhere.

i think it's a good thing you let that deal go through. we shouldn't be buyin HP anyway.......at least that's what experts say. so laybye baby!

Best-Achiever
02 Sep 2009 11:58

nna i hate anything that have a name 'credit' in its description, debts makes me restless, as working as i am and as classy as credit card sound but i have no intentions of owning one.

GML
02 Sep 2009 12:02

The best option is to pay double or triple the deposit. this will make the instalments smaller and you will pay it off faster. Like with R15000 would not buy it but I would take the R5000 and buy a TV cash then save again for a stand

blueroze
02 Sep 2009 12:09

so laybye baby!
this is very true and other shops like Metro and Home Hyper sell all this reputable labels at an affordable amount

i refuse the credit le nna BA
the only credit i have and will have for a long time is for my stuying thats it.

and that lady wanted me to feel better by saying..."in the case of you dying WE will give your family condolenses, who do you nominate to receive this?"
in my mind i was saying"so you expect me to feel better? R15000 is still a lot of moola, i will be damned if i do this"

Mathaz
02 Sep 2009 12:12

I hate buying things on credit, i've got one account (Woolworths) and that does not sit well with me. If i cannot afford things especially furniture i'd rather stay without until i can afford. My house is practically empty coz at the moment i cannot afford Wetherlys.

zozoe
02 Sep 2009 12:32

i say no skoloto, joo these people are getting rich ka rona i say sorry no skoloto , i wud rather save and buy even if its after three months

you know i dont have any clothes accounts and my colleagues always say i am stupid and i m like who ? me? no you are the ones who are stupid , you see problem ya ka i multiply the monthly instalments with the real amount and i find i have to pay something thre time the actual amount

sorry no skoloto people always say you cant live without skoloto yes you cant especially the property one and the property is the only skoloto i will have

felfel
02 Sep 2009 12:37

If u really need to buy furniture on High Purchase, based on ur R7000 total, u cud pay R2000 deposit, and settle the remainder (R5000) in three months, interest reversed, split the remaining R5000 over the 3 months, qha. I bought my R5000 bed that way, the whole thing was over in less than 3 months with no interest at all, but they dont tell dikhastama about the interest free payments cos they won't make moola out of u that way.

Cande
02 Sep 2009 12:40

You still pay that much for delivery anyway even if you buy cash. I paid 350 for delivery for my goods because they were going to come from the warehouse in roodepoort to centurion and the shop was 5 minutes away.
and if you say you will fetch them yourself they tell you gore they will not be liable for any damage of goods due to transportation and unpacking.

realist
03 Sep 2009 06:46

HP is not a problem depending on how much interest they are going to charge. The only problem with HP is the insurance part. This is where they rip off the customers. I wanted to buy lounge suite on HP and was prepared to pay the interest but when I saw how much they charged for the insurance I bailed out.

This thing of saying you should buy everything cash with the exception of a bond or car payment is just a pie in the sky. The western economies are based on credit and as such try and settle your debt as quickly as you can. That way you save a lot on interest.

As for clothing accounts, try have the six months repayment. They are usually interest free.

If you buy anything cash, make sure you also invest some of your money. Remember putting your money in the bank is the safest way to bank yourself into bankruptcy if you are still young.

I paid 350 for delivery for my goods
R300 to R350 seems to be the norm these days. Remember you are paying for peace of mind and it does not come cheap. Would you risk transporting the furniture yourself if what you paid for cost you a fortune? What I am saying is that it depends, if the furniture you bought was cheap then you can take the risk and transport it yourself, but if it is expensive then you will have to pay for the peace of mind to get your furniture safely at home.

blueroze
03 Sep 2009 07:21

you are so real realist some of the things you mentioned i agree to
personally i dont like debts, they have a way of making you feel off-ish annd i dont want that now

Miss2legs
03 Sep 2009 07:39

Yah Cande neh !!! they make you pay money even if you want to collect yourself
I went to buy a washing Machine for Cash and they told me i had to pay R200 for handling , and i said but i am collecting myself so why would they charge me handling??? And like u said they say incase it gets Damaged while you transport i refused to pay it left them R20 and collected.

And buying on HP is also something else, they never really explain how it works when i got furniture for my house i had half the money to pay for the staff and they said pay it off as deposit then it will lower your instalment that i did but when they send the goods the total was like i had never paid for the deposit mxim they said its the insurance ... really now if i pay off early are they going to recalculate that insurance money coz i am only covered for the period of payment

realist
03 Sep 2009 08:06

And buying on HP is also something else, they never really explain how it works
According to NCA, it is a criminal offence if they did not explain to you the terms and conditions of sale. Always ask before you sign on the dotted line. That way you will never be caught off guard. Once you sign on the dotted line it is presumed that you have read the terms and conditions of sale. Remember you can always change your mind before the seven day period.

Cande
03 Sep 2009 08:22

and HP doesnt give you the 3 months considered cash anymore. Haiye ngeke!!!
Thank God for extended warranty, now i am taking back my microwave to be repaired for free

realist
03 Sep 2009 08:25

and HP doesnt give you the 3 months considered cash anymore.
That is how I know it, could be wrong.

Tash 1
03 Sep 2009 08:27

Mna buying cash is a lot better instead of buying on account n' end up paying double the price if not tripple. It might be difficult to save bt hey if u really want yo thing u can make it.

myname
03 Sep 2009 08:38

I always lay-buy shame mna for 3months. Even now im planning 2 buy a plasma next year so im gonna start saving on Jan after paying my school fees. I really like that thing bathong.

Ive been asking iSelimathunzi bt nada.

Morning guys, let me work

Savanah Dry
03 Sep 2009 08:41

I decided to upgrade my TV , the was a special at OK furniture so i thought why not i took staff there on HP , they told me i can only send it back within the 1st 7 Days , believe me nothing ever happens within 7 Days. On the 10th day the TV decided to Give up imagine i took it back and demanded a new TV they refused said their policy is 7 Days return.

They had to wait for a spare part in the for 21 days in the meantime i had already given away my other TV and i had no TV imagine, they never phoned with feedback i had to waste my airtime all the time asking them when i would get it back...the painful part is imagine paying for something that has already been repaired once within the 1st mnth...
And then they had the nerve to call me harrassing me about their payment when i had filled in debit order forms and they yah someone should have told you the 1st month you have to come in and pay cash hayi , did they have to harass me when i didnt know about all this ...
I vowed never to buy from OK ever and i plan to pay it all off within the next three months .

boogy-babe
03 Sep 2009 08:52

Id rather buy things cash shame than credit cz iv learnt tht the hard way, coz i wanted to buy this bedroom suite and it cost R6999.00 & i decided to take on the 3mnths plus i had R5000 Deposit thinking tht noh il finish paying for this within 2mnths & that the deposit will redice the instalment. YHOOOOO i was very wrong i ended up double the amount plus insurance and R850

boogy-babe
03 Sep 2009 08:52

realist
03 Sep 2009 09:06

i wanted to buy this bedroom suite and it cost R6999.00 & i decided to take on the 3mnths plus i had R5000
Had you used the bank credit card you will have finished payment in two months and you will have paid less interest and no insurance fees. From the R6999 and you paid R5000 in cash and you were left with R1999 outstanding.

If you do not pay the R1999 within the 30 day period they will charge you the whole R6999 interest owed, but remember the interest charged will still be less than HP. So in the next month they will charge you interest of R1999 which btw it is insignificant compared to HP. That is, if you bought using the bank credit card.

tha - bang
03 Sep 2009 09:11

i've learned the hard way,if i dont have the cash for it,i'll save for it.high purchase and loans are scams

VusiK
03 Sep 2009 10:08

Aahhh!

You are learning the magic of compounded Oligopoly and vertical integration.

What you are experiencing is the highest corruption of the absolute cross pollination of economies of scale.

In other words, a cage built to offer the consumer the absolute convenience, and luxury of bondage.

lucy you escaped ... imagine the Poor auntie who cannot picture herself actually accumulating sufficient money to afford the luxury of canceling that credit application.

This is the true face of business ... Get used to it!

realist
03 Sep 2009 10:14

VusiK
Can you say what you just said in English please?

VusiK
03 Sep 2009 10:17

You can google the big words, and get their meanings...

VusiK
03 Sep 2009 10:19

Summary ... Don't Borrow ... Pay Cash ... and don't ever make use of service you can provide yourself, and never make a purchase you cannot negotiate the value of ... (the value you are prepared to pay)

zozoe
03 Sep 2009 10:23

CAN SOME1 TRAMSLATE WHAT VUSI IS SAYING HERE

GML
03 Sep 2009 10:29

@Zozoe:

I think he is saying companies trap you and that broze learned that. Companies make you an offer which seems reasonable but will tie you up in repayments while living in luxury because you took the credit. so She is lucky she escaped the bondage of these shops. and that she spared the sales lady the process of canceling the application.

Vusi did I get that right?

realist
03 Sep 2009 10:31

It is what happens when business conspires to fulfill all terms of your chain of needs ... You become their slave when you subscribe to any part of their supply chain, and you end up paying them 300% - 400% of total cost to them.
Whether one subscribe to the chain I am not sure about that. If we buy anything based on the need only life will be boring, don’t you think so. What makes life nice to have, is the wants that we buy and as such they create demand and supply. That demand and supply is what makes the universe so interesting to live in.

ms.tebby
03 Sep 2009 10:34

eish...I need an EngRish private tutor

Sobza
03 Sep 2009 10:36

I don't want anything from a furniture shop ye credit....I paid R 5200 for a R1500 television set.

Woolworths sent me a card which I have to activate before November 10th and I cut it into pieces. Cash is king

realist
03 Sep 2009 10:43

Don't Borrow ... Pay Cash ...
Not everyone can afford to pay everything in cash hence the need for credit. Problem with credit is that people borrow more than they can afford to repay and the retailers, banks etc they try giving you credit even if you don’t want to. Look at this scenario and tell me who is to blame:

Person A nets R30, 000 per month and has a bond of R14, 000 per month. Everything still Ok and affordable. Person A buys cloths for the kids on a store card and so on. Then the Credit crunch happens because banks (including local ones) dish out home loans to all and sundry. Person A was totally capable of servicing his debt.

Then interest rate goes up (not his fault) and suddenly the R14, 000 bond becomes R17, 000 or whatever. Discretionary income is now less and the petrol and food prices rocket (again not his fault). Person A and the rest of the consumers are now blamed for reckless spending. Not the clothing store that advertises that you must simply sms your ID to apply for a store card, or the banks that spam your mail and inbox with pre-approved loan applications… or the clothing stores that mails you the actual card without you asking for it. Person A is forced to go into more debt as expenses increase due to factors outside of his control, factors caused by the industry that gave him the credit in the first place.

The bank takes his house and sells it. Instalments up to that date only serviced the interest, not the capital amount. The bank scores the interest and the house. (Remember the bank advanced the money for the bond with other clients’ savings…)

and don't ever make use of service you can provide yourself, and never make a purchase you cannot negotiate the value of ... (the value you are prepared to pay)
Totally agree

blueroze
03 Sep 2009 15:05

@ VusiK why o bua ka ditongues mara? wena you want to expose the quality of our education?

all in all i'd say you guys are right.
that table i'll buy cash
no HP for me ke a leboga

Cande
12 Nov 2009 11:08

Can you get fixed interest rates when buying a house?? My car is on linked and scared of what might happen should the interest rates go up?

Molilo
12 Nov 2009 11:15

Yes you can Cande

Best-Achiever
12 Nov 2009 11:28

This fixed and linked rate thing can be so draining sometimes .... i bought 2 different thinks and one on linked rates and the other on the fixed ... now i wish i bought all on the fixed rates... when i look at the money that im paying for the fixed rates, my heart sink ...LOL

Cande
12 Nov 2009 11:37

yes BA you know i am thinking the same.. If you fixed and when interest rates go down you not gaining from that but the bad side about being linked is when rates go up. Its confusing really!!

nice
12 Nov 2009 11:46

Cande, you can but you really dont want to do that

Remeber a bond for a house is for 10 - 30 years, and in between that period a lot can happen to interest rates

Currently the rates are low, it may seem like a good idea to fix them, but they can go lower and you will be bound for all those years.

Rather apply for an excess bond/ or is access bantu, and pay the extra amount you have in to reduce the interst and term of your bond period.

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