Interest free Credit and Paying Cash.

[SlipTheJab]

So Mrs STJ has decided that It's been 5 minutes since she spent a wad of my hard earned and we're off to buy beds/mattresses tomorrow (3 of each).

I'm looking at a 3k+ layout here and thought I would just pay cash. While looking online I see that the majority of firms (Dreams, Bensons etc) offer up to 3 years interest free credit, so I assumed when I rock up tomorrow I can ask for a discount (say 5-10%) for settling there and then... cue a search and it seems like they can't offer a discount for cash as it would 'prejudice' people who rely on credit?

Anyone experienced this? If thats the case I may as well take the 3 years 0% credit and stick the cash in a high interest account for the duration!

... makes no sense to me...

[SlipTheJab]

So Mrs STJ has decided that It's been 5 minutes since she spent a wad of my hard earned and we're off to buy beds/mattresses tomorrow (3 of each).

I'm looking at a 3k+ layout here and thought I would just pay cash. While looking online I see that the majority of firms (Dreams, Bensons etc) offer up to 3 years interest free credit, so I assumed when I rock up tomorrow I can ask for a discount (say 5-10%) for settling there and then... cue a search and it seems like they can't offer a discount for cash as it would 'prejudice' people who rely on credit?

Anyone experienced this? If thats the case I may as well take the 3 years 0% credit and stick the cash in a high interest account for the duration!

... makes no sense to me...

BTW I blame the EU for this

[MrMarkyMark]

You are supposed to keep cash under your mattresses, not spend it on them.

HTH

[SlipTheJab]

You are supposed to keep cash under your mattresses, not spend it on them.

HTH

Or use it to stuff them, I hear NLUK does that and he sleeps 5 feet off the floor!

[WTFH]

Or use it to stuff them, I hear NLUK does that and he sleeps 5 feet off the floor!

That may be true, but 1p and 2p coins are not comfortable to sleep on.

[NickFitz]

Sounds like a load of absolute bollocks to me. I've never heard of any regulation such as you describe.

On the other hand, I've often heard similar-sounding conspiracy theories from idiots, usually the kind of idiots that make up stupid tulip so they can blame it on the EU.

Did you discover this "fact" on the kind of site that's cited as a source of reliable information by the likes of the Daily Express and Daily Mail, by any chance?

The only legislation I can find that seems even slightly relevant is the Competition Act: here's a guidance leaflet explaining it (PDF). Firstly, this is UK legislation, not EU regulation. Secondly, that guidance explicitly states that for a supplier to prevent a retailer from offering a discount would be illegal. But there's nothing about disadvantaging end customers who use credit.

If you can find any law or regulation governing retail sales that could actually be interpreted, even by somebody with no knowledge or understanding of law who's in the depths of an ether binge, as hinting at what you describe, you should post a link as it would be interesting to try to work out the warped psychological processes that might lead from a plain reading of said statute to such an interpretation.

So ask if they'll give you a discount for cash. They may well do so. But if they don't, it won't be because of some Brussels Bogeyman; it'll be because it's against company policy, or because the salesperson doesn't like you, or because they have some weird arrangement with the company that actually provides the 0% finance that makes them more money off getting you to sign up for that than they make off a straight cash sale.

But for the amount you're spending, you'll almost certainly be able to wangle a few bob off, even if you're wearing a UKIP rosette

P.S. Bear in mind that the interest free credit is actually arranged as a loan through a bank (e.g. Dreams use a division of Barclays, Bensons use Ikano Bank) and will appear on your credit record as such.

[WTFH]

Also, the best time to buy is at the end of a trading month/quarter/year.
Find out when their financial year ends and base your purchase on that.
Salesmen are always keen to deal when it affects their bonus.

[greenlake]

You are supposed to keep cash under your mattresses, not spend it on them.

HTH

INKSPE....



Magniflex 22-Karat Gold Mattress

[mudskipper]

...stick the cash in a high interest account for the duration!

Good luck with that!


Edit: FWIW, DFS wouldn't give us a discount for cash either.

[SlipTheJab]

Sounds like a load of absolute bollocks to me. I've never heard of any regulation such as you describe.

On the other hand, I've often heard similar-sounding conspiracy theories from idiots, usually the kind of idiots that make up stupid tulip so they can blame it on the EU.

Did you discover this "fact" on the kind of site that's cited as a source of reliable information by the likes of the Daily Express and Daily Mail, by any chance?

The only legislation I can find that seems even slightly relevant is the Competition Act: here's a guidance leaflet explaining it (PDF). Firstly, this is UK legislation, not EU regulation. Secondly, that guidance explicitly states that for a supplier to prevent a retailer from offering a discount would be illegal. But there's nothing about disadvantaging end customers who use credit.

If you can find any law or regulation governing retail sales that could actually be interpreted, even by somebody with no knowledge or understanding of law who's in the depths of an ether binge, as hinting at what you describe, you should post a link as it would be interesting to try to work out the warped psychological processes that might lead from a plain reading of said statute to such an interpretation.

So ask if they'll give you a discount for cash. They may well do so. But if they don't, it won't be because of some Brussels Bogeyman; it'll be because it's against company policy, or because the salesperson doesn't like you, or because they have some weird arrangement with the company that actually provides the 0% finance that makes them more money off getting you to sign up for that than they make off a straight cash sale.

But for the amount you're spending, you'll almost certainly be able to wangle a few bob off, even if you're wearing a UKIP rosette

P.S. Bear in mind that the interest free credit is actually arranged as a loan through a bank (e.g. Dreams use a division of Barclays, Bensons use Ikano Bank) and will appear on your credit record as such.

The bit about blaming the EU was a joke