Re: We Are 97% Owned By The Banks : Tue May 15, 2012 7:48 am  

Scooter Nik wrote:

Not so. Unless I borrow £100 and only pay back £100, no charges, no overheads, no fees, then there is no such thing as 0% finance.
The percentage doesn't have to be on the monthly payments, even if it's an admin cost, it's still a percentage that can be measured.

Indeed, as the saying goes "no such thing as a free lunch" you'll pay for it, just somwehere a little less obvious than having an APR written on an agreement.

Until interest only mortgages and companies like Ocean Finance are closed down by the regulators I'll not believe any meaningful change is really happening in the financial services sector.

Re: We Are 97% Owned By The Banks : Tue May 15, 2012 12:32 pm  

0% does exist - i looked at a bike it cost XXXX, decided to buy it using the 0% finance it still cost XXXX, paid of the 0% finance early with no early payment penalties.

That = 0% finance

Re: We Are 97% Owned By The Banks : Tue May 15, 2012 12:33 pm  

Saint Viper wrote:

0% does exist - i looked at a bike it cost XXXX, decided to buy it using the 0% finance it still cost XXXX, paid of the 0% finance early with no early payment penalties.

That = 0% finance

nope, but you're not getting various people's meaning, so best left.

Re: We Are 97% Owned By The Banks : Tue May 15, 2012 12:38 pm  

Saint Viper wrote:

0% does exist - i looked at a bike it cost XXXX, decided to buy it using the 0% finance it still cost XXXX, paid of the 0% finance early with no early payment penalties.

That = 0% finance

That's how car manufacturers sell it too.

It still ain't interest free though