HO Interest Free Period on again

[judydawn]

HO has announced their next 12 month interest free period.  This is from 15th October - 7th January 2013 and the offer of the free ThermoMat during the month of October still stands.

As Snappy has said in another thread, the 2013 calendar is now available too and can be ordered here for $20.

[MrsG]

You know what?? I reckon this is a scam by HO to boost sales. No joke.
My hubby is a chartered accountant and is on a massive wage. I also work full time (currently on maternity leave) and am on a decent wage. Our 12 months interest free was DECLINED!! I have no idea how. It makes no sense.
We think it's Suss primarily because his rejection was a mere second after he finished filling out the data online. The rep's comeback was "well, are you in a position to buy outright or the easy 3 payments". Nothing further about finding out why.
I would have loved to say to her "oh no don't worry about it then" but I really wanted it. Just a shame they wouldn't honour their offer - we shouldn't be forced to pay cash when we can very clearly afford any option.
Sorry about the vent, I just think it's ridiculous.

[gertbysea]

This is a third party offer with a set up fee isn't it? Vorwerk do not actually underwrite it.

To my knowledge there is no company that will finance anything without a fee. You can call it interest free if you like but  you will always pay more than the advertised price for anything with an interest free price.

Hopefully those who want a Thermothingy will do their due diligence and won't be sucked in to paying even more .

Gert

[judydawn]

I have referred this problem to a higher authority and it is being checked out.  Will let you know the outcome.

[gertbysea]

The reply,posts or the offer Judy? ROFLMAO! 

How many recipes are on the calendar? 12?  So we have to pay  $1.60 for each recipe . No thanks.

Gert

[judydawn]

The application being declined Gretchen.

[MrsG]

It's ok Judy - I'm fortunate in that we are in the position to purchase outright, but it just doesn't seem right that I have to when I can keep that money in the offset account.
After all if we didnt have the cash, it could have meant that hubby may have had ammunition to say "nope, sorry, it's not meant to be!" And not bought one for me. Know what I mean??
Even before paperwork was filled out, we were told that sometimes the best finance candidates were knocked back and she had no idea why. I actually feel sorry for the reps.

[gertbysea]

The application being declined Gretchen.

s

Lol, ok .

 

It's ok Judy - I'm fortunate in that we are in the position to purchase outright, but it just doesn't seem right that I have to when I can keep that money in the offset account.
After all if we didnt have the cash, it could have meant that hubby may have had ammunition to say "nope, sorry, it's not meant to be!" And not bought one for me. Know what I mean??
Even before paperwork was filled out, we were told that sometimes the best finance candidates were knocked back and she had no idea why. I actually feel sorry for the reps.

I  get it  Mrs G . Prospective buyers should be aware but more importantly the consultants should have knowledge of how the  finance actually works before offering it and not just spouting the HO  propaganda .

We all need to smarten up and  not be sucked in.

Any one of us who is capable  of buying a Thermothingy and reaching this forum is certainly capable of learning  the ins and outs of a finance contract. If we aren't  we should be.

Gert

[teagg]

I'll preface my comment by saying that I don't know the details of this year's interest fee option, but last year the actual cost of taking this was just under $130. This comprised a $70 set up fee plus a monthly account-keeping fee of $4.95.
So it's over 5% of the total price.
To be blunt - (and probably old fashioned!!) - buy outright or become a consultant - even if you don't make any sales you've had a longer credit period with only $600 upfront and then the rest at the end of your sixty day period - which can start anywhere up to a month after you get the machine.

Whilst 5% may compare favourably with the offset account interest you are avoiding, there is also the 'cost' of your time in monitoring/managing the paperwork process.

Everything costs! It just depends where and upon what you wish to spend your resources - money, time, effort, et al.
HTH
Gillian

[gertbysea]

I'll preface my comment by saying that I don't know the details of this year's interest fee option, but last year the actual cost of taking this was just under $130. This comprised a $70 set up fee plus a monthly account-keeping fee of $4.95.
So it's over 5% of the total price.
To be blunt - (and probably old fashioned!!) - buy outright or become a consultant - even if you don't make any sales you've had a longer credit period with only $600 upfront and then the rest at the end of your sixty day period - which can start anywhere up to a month after you get the machine.

Whilst 5% may compare favourably with the offset account interest you are avoiding, there is also the 'cost' of your time in monitoring/managing the paperwork process.

Everything costs! It just depends where and upon what you wish to spend your resources - money, time, effort, et al.
HTH
Gillian

And  that is exactly right. 

And that is exactly why so many become consultants only to leave shortly after.

I could tell you of  the most recent price of the Thermothingy in Europe but MM wants you to find that for yourself.

If I wanted one now I would book a trip to Europe and leave room in my luggage. If the Euro goes up in the next few months you would be laughing big time.

Gert

[teagg]

Gert...
Some of 'us' are whinging poms (!) (according to DH, who is also one)... And some of us went back to old blighty to visit Mummy (with kids in tow) and then found ourselves with interesting hand luggage (nudge nudge wink wink) in the overhead locker.
And VAT was refunded at the airport...
Almost worth the trip's cost...

Helps not to have accommodation costs of course.
And she starved me too - my figure was so much better when I'd just come back (& before I started using the machine)!!!

I resigned in Sep, having done 11 months.
Interesting and even fun sometimes. But fundamentally a sales job.
Therein lies the rub. Especially if one's circle of contacts has a high proportion of Europeans... Rather like trying to push water uphill.

;-)
G

[gertbysea]

Gert...
Some of 'us' are whinging poms (!) (according to DH, who is also one)... And some of us went back to old blighty to visit Mummy (with kids in tow) and then found ourselves with interesting hand luggage (nudge nudge wink wink) in the overhead locker.
And VAT was refunded at the airport...
Almost worth the trip's cost...

Helps not to have accommodation costs of course.
And she starved me too - my figure was so much better when I'd just come back (& before I started using the machine)!!!

I resigned in Sep, having done 11 months.
Interesting and even fun sometimes. But fundamentally a sales job.
Therein lies the rub. Especially if one's circle of contacts has a high proportion of Europeans... Rather like trying to push water uphill.

;-)
G

Gotcha!  Be careful. Word might get around! LOL!

Gert

[judydawn]

I have received a reply from HO regarding this matter and have sent it to MrsG.