Interest Payments are a killer

In my line of work I saw a few of their invoices.
For example Retail cost : R800
Add delivery. Add insurance / death / retrenchment cover. Add extended warranty. Add surge protector.

R1500 then with 12 months terms with compound interest.
R230*12 becomes R2800 for the R800 item. ( although the linked item truly takes the cake)

Customer makes 2 payments and item is given in for repairs. (R350 Wholesale PoS)
Gets handed over after months of none payment. Insurance claimed on the inflated debt. Then debt gets sold on to collection agency that goes after the customer with their interest and other charges.

The linked item above is hardly a mistake. The store item is not their true business, it is consumer finance. The JD Group is a truly repulsive and exploitative company.
 
To be fair...

You do get irons for close to 2k. definately over 1k.
But yeah....

The total payable on terms are nearly 300% of the discounted amount. So not an item I would consider paying over 2k for.
 
Venomous said:
To be fair...

You do get irons for close to 2k. definately over 1k.
Click to expand...
Bought a sweet ceramic one at UK retail prices for like 1.2k zar (russell hobs). Don't think you'll get above 2k without some serious money wasting...
 
HavocXphere said:
Bought a sweet ceramic one at UK retail prices for like 1.2k zar (russell hobs). Don't think you'll get above 2k without some serious money wasting...
Click to expand...

I said close to not over....

Mine in SA cost over1.6k zar, but it does make ironing easier. Phillips,
No temp control, the iron can go from denim to silk and not burn.
 
The lady working from me bought a microwave R850, washing machine R2500 and some other item from Russells. She paid for a year then stopped paying because she was short of money. She changed banks thinking they wouldn't be able to trace her. Also changed her phone number.

Of course they found her and she ended up paying the balance which was close to R20 000 - twenty thousand rand.

They were a despicable company.
 
Venomous said:
To be fair...

You do get irons for close to 2k. definately over 1k.
But yeah....

The total payable on terms are nearly 300% of the discounted amount. So not an item I would consider paying over 2k for.
Click to expand...

You need to brush up on percentages!
 
Is this for real?

*checks date*

Nope, not 01/04 yet. Damn
 
Venomous said:
lol,

okay.....


its closer to 10000% greater than the discounted amount.


Happy now?
Click to expand...

I'll put you out of your misery. It is a 2798.649324662331% increase.

First Step: find the difference between two numbers, in this case, it's 2897.2 - 99.95 = 2797.25. Second Step: Take the difference, 2797.25, and divide by the original number: 2797.25/99.95 = 27.98649324662331. Last, multiply that answer with 100: 27.98649324662331*100 = 2798.649324662331%.
 
Last edited:
Nothing wrong with it. If you want to be stupid enough to buy things you don't have money for.....Kry vir jou.
 
Is that particular item not perhaps a mistake? Looking at the other items on the site, the iron does seem to be the od one out.

But then again Lewis, JD group and the rest of them all seem to be shady as hell at the best of times.
 
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