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Saxophones Financing a Sax

Saxodent

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Anyone else tried 0% Interest on purchases card yet for buying their dream horn or overpriced mouthpirces ?
Up to 28 months on a Sainsbury's Card.
Plus Nectar points and other deals on other cards.
Insured as well against damage, loss,...!
No Fees anymore either for using it.
Makes some of those finance rates at certain places a bit off doesn't it !!
Howarths only offer it on certain instruments.
Sax UK is 10 months.
 
0% is great if you can pay it all off before the interest kicks in. You'll be obliged to pay the minimum payment each month. 3% of the balance is it? A £3k horn would work out at around £110 a month over 28 months.

If your income/employment is stable I can't see a problem. If you lose your job/income it's a different story. The interest charged after the interest free period may be quite high. As with any financial contract, read the small print.
 
I just made a purchase on my Discover, because they offered zero percent for twelve months. If I don't pay it within the given time frame, they will apply 20 percent interest! It could be a nice loan, but I agree with the Sexy Bear (read the tiny print).
 
Anyone else tried 0% Interest on purchases card yet for buying their dream horn or overpriced mouthpieces ?
Brand new...Dream Horn of.... the month ? The season ?

If after 9 months you've decided you don't really 'love' that horn or mouthpiece ? You'll take a huge hit in depreciation.

Just a thought....
 
You could always add on PPI in case you lose your job or become sick/can't work?

;)
 
Then give it 10 years or so and make a claim for being miss sold the ppi and with a little luck your sax will effectively be free
 
Assuming the sax had been paid for over the 28 months, and the PPI was stopped at that time, a claim for mis-selling at 10 years would likely fail as it would be out of time.

Additionally, knowingly taking the PPI it would be unlikely a mis-selling claim would succeed. Successful PPI claims are mainly where the claimant has no knowledge of the PPI being added to a credit card or other account, not where they seek to take it out or where they are sold it and details exist of their acceptance of the cover.

It's been possible in the past to be sold PPI whilst not eligible to have it, but now days the questions for applicants seeking out PPI cover are such the applicant would have to lie about their employment or health to be able to take it. Their lies would be thrown back at them on any mis-selling claim. However, their lies would mean the insurance contract is void from outset and the insurer would have to refund all premiums paid even though the insured had lied.

Have I gone too deep?
 
You could always add on PPI in case you lose your job or become sick/can't work?

Proton Pump Inhibitors?

Losing my job would probably give me heartburn!

(Seriously, I had to look PPI up. Not used in this sense over here.)
 

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