Tyre Factory finance?

[Fled74]

Has anyone here purchased a wheel/tyre package on a finance plan? If so, what are the finance terms like? Interest rate? Customer service? Are the tyres they used any good?

Thanks,
Chris

[Ives]

Sorry, a bit off topic... but just wondering what tyres r u looking to get? imo it's worth the extra cost to get high performance tyres made by big brands.

[Als_Zetec]

First of all, agree with Ives... most tyre places will update the package pricing on offer to reflect your choice if you request a better brand. It's still quite often cheaper than buying everthing separately.

Finance is usually provided by the likes of GE Money. HSBC is now seriously pushing into the 'consumer credit line' game and offers interest free periods or interest free for that particular purchase etc. The main differences are:
- GE will only finance up to the value of the current purchase
- GE may provide an interest free period
- After the interest free period, interest rates may be quite (read: ludicrously) high, and are usually anywhere from 12% up. It's not unheard of to get rates of up to 25%.
- HSBC will finance the current purchase, and will also sign you up for a credit card.
- CC limit depends on your details such as age, income, current liabilities etc.
- Their CC interest rate is not too bad for a credit card, especially if you intend on paying off your purchase within the interest free period.
- The trick is to have the discipline not to splurge using your new piece of fantastic plastic!
- NAB also offers a similar product where you effectively sign up for a personal loan, but they hand you a credit card. You can then manage your own purchases up to the preset spending limit. The attraction is that you get personal loan rates rather than credit card or loan shark rates. Once the card balance is used, the card gets cut up and tossed out... but the debt remains

What facilities are on offer depends on the tyre shop. I'm stating the obvious; but if you have the time, shop around for finance and the wheel / tyre package you want. It could save you a lot of $$ in the long run.

hth...

Ali.