FNB Connect MacBook stupidity

[lkpat]

I haven't worked out the figures - but are you saying it's better financially to spend R48,000 in one go, than R50,000 spread over a term?

Exactly what I thought.
You have to take cash flow into consideration.
Cash is king works both ways.

 

[kory]

I haven't worked out the figures - but are you saying it's better financially to spend R48,000 in one go, than R50,000 spread over a term?

If it’s 2k difference finance is wayyyy better. Assuming there are no outrageous sign on charges. I am however, a cash buyer myself and the cheapest finance option I usually get for a MacBook is at least 16k difference. I have never worked out the potential benefits of ebucks etc.

 

[Charlesyu365]

My 2c - they will also penalize you if you move.

I had an FNB device paying off a few years ago, and decided i wanted to move to Nedbank. When I spoke to my banker they said once my salary stops getting paid into the FNB account I don't qualify for the FNB device anymore and will need to settle the entire amount.

Ok let me ask you, what did you expect would happen if you changed banks? Or what did you want to happen? Because I think FNB requesting you settle the entire amount is pretty reasonable. That's just my 2 cents on this matter anyway. However you did say something about being penalised - I guess it depends on the amount.

 

[Charlesyu365]

this all these small debt items add up.

cash is king...

Sure if you meant the whole credit system causing problems for the business world, but I think you meant for individuals. I would have to completely disagree on the matter then, simply put you get to buy cool new **** you wouldn't be able to otherwise. For most middle class people (I say middle class but really I just mean non-rich folks) I doubt they'd be able to afford it in one go, and even if they could it would cause major financial struggles in the upcoming days.

But on a lighter or darker note depending on how you view it, yes debt adds up & people get screwed because they didn't manage their credit card debts better - but if you kick the bucket early you're debts are done anyway. So basically alot of free goodies for yourself without having to pay for them in full!

 

[Speedster]

Ok let me ask you, what did you expect would happen if you changed banks? Or what did you want to happen? Because I think FNB requesting you settle the entire amount is pretty reasonable. That's just my 2 cents on this matter anyway. However you did say something about being penalised - I guess it depends on the amount.

Necro much?

 

[neoprema]

Ok let me ask you, what did you expect would happen if you changed banks? Or what did you want to happen? Because I think FNB requesting you settle the entire amount is pretty reasonable. That's just my 2 cents on this matter anyway. However you did say something about being penalised - I guess it depends on the amount.

They penalize you because

1. You’re paying off an asset but are only allowed pay it off from an FNB account. So they’re forcing you to have an account with them for the credit. Even if you want a debit order to pay them for another bank they refuse.

2. They charge no interest over the period, but they do charge you to early settle. Or at least they did back then…