How does FNB device settlement work

[adam1234]

I have taken the ipad 2 from fnb and have 10 months outstanding, so I want to rather settle the amount asap.

any idea how this works, if it will be cheaper to settle or rather keep it going for another 10 months?

do they take retail value in general or they give their own price - amount paid = settlement?

 

[ToxicBunny]

Its cheaper to keep it going.

They charge you the remaining value based on the Retail price if memory serves me correctly.

 

[Sinbad]

Yup. Settlement cost = retail price at the time you bought, less what you've paid so far. Cheaper to just keep payingit off.

 

[adam1234]

that's what confuses me. whether the retail price is from time of purchase or at time of settlement. according to the lady it sounded like at time of settlement and would be cheaper to settle. lets wait for their reply and I'll update here

 

[Sinbad]

Time of purchase.

 

[adam1234]

well then I'd rather keep it going because I do qualify every month for the discount

 

[adam1234]

got a reply from FNB, if I settle now ill be paying 200+ more than if I let it carry on.

and quote from mail

"Early settlement is calculated at the full FNB retail price of the device as at the date in which you have been contracted, less any instalments already paid"