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why me?

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Why is it that every time I take my secret money sock out from under the bed, and start dreaming about that new alto, or that effects box I've been promising myself for ages
the postman brings another bleedin' mountain of bills or the kids want to eat again,(I know i fed them last month)
 

kevgermany

ex Landrover Nut
Subscriber
Messages
21,947
same problem here. I think it's all of us. At least we're not badly flooded out.
 
Messages
509
same problem here. I think it's all of us. At least we're not badly flooded out.
True Kev, i guess its thing like this that put everything into perspective, as Don Henley said once when introducing New York Minute "its about being grateful for what you have",
 

kevgermany

ex Landrover Nut
Subscriber
Messages
21,947
thats a great idea! whats the going rate?
As an ex-banker, I'd suggest that it'd have to be fully secured for a better interest rate. Unsecured the risk goes up and so does the interest to cover it. You'd probably want it to work like a car HP deal, where you can use the car, but it doesn't become your's until the final payment. Thus the loan is secured against the value of the property. This does, of course, increase the risk of repossession, which may be an advantage if the goods aren't performing as expected. Banks would still need to cover admin and make a HUGE profit - and need to cover the cost of selling the goods at auction.

But I'd guess you could start negotiating around 80% of the retail value, at prime plus 5%.

Disclaimer, this is not financial advice in terms of any finance legislation. Interest rates may go up as well as down. Past performance is not an indication of future performance. No slight is intended to any persons living or dead. No trees have been destroyed making this post. The poster is not registered or qualified as a financial adviser in terms of standards set by any legislation.

For the avoidance of doubt, this post is intended as a joke, anyone acting on the contents does so at his/her own risk, in full knowledge that no responsibility or liability is accepted by this poster.
 

johnboy

Senior Member
Messages
1,179
Wow, what a mouthful. Tell me, would she have to be secured with roaps or chains?

johnboy.
 
Messages
509
As an ex-banker, I'd suggest that it'd have to be fully secured for a better interest rate. Unsecured the risk goes up and so does the interest to cover it. You'd probably want it to work like a car HP deal, where you can use the car, but it doesn't become your's until the final payment. Thus the loan is secured against the value of the property. This does, of course, increase the risk of repossession, which may be an advantage if the goods aren't performing as expected. Banks would still need to cover admin and make a HUGE profit - and need to cover the cost of selling the goods at auction.

But I'd guess you could start negotiating around 80% of the retail value, at prime plus 5%.

Disclaimer, this is not financial advice in terms of any finance legislation. Interest rates may go up as well as down. Past performance is not an indication of future performance. No slight is intended to any persons living or dead. No trees have been destroyed making this post. The poster is not registered or qualified as a financial adviser in terms of standards set by any legislation.

For the avoidance of doubt, this post is intended as a joke, anyone acting on the contents does so at his/her own risk, in full knowledge that no responsibility or liability is accepted by this poster.
Thanks for your wise input Kev, just gonna check the financial times along with finding my Life Inurance policy( in case the missus sees this)
 
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