Anybody Seen This Before?

[MintyDave 0]

Like most people i spend time browsing the t'interweb drooling over gear that i either cant afford or cant justify buying, but its nice to look! Admit it!

Always looking at deals, price of gear, reviews and reading about new gear in general.

 

Then i came across this

 

Surely this has to be a con. Have you ever heard of these peole before, are they credible?

 

Not that im in anyway thinking of dealing with them, just curious. How can a credit company operate with so little information on who they are etc.

 

Edited January 25, 2010 by MintyDave

[Teez 0]

Hi Dave,

 

They are otherwise known as Guildford Sound and Light

 

http://www.guildfordsl.com/content.asp?ContentID=1

 

or DJ DEals

 

http://www.djdeals.co.uk/

 

I guess they're just branching out into a new sideline.

 

I doubt they can beat signing up to a Virgin Credit card, buy the equipment, pay 3% fee (added onto the amount) and then pay asbsolutely nothing interest free for 16 months (during which time of course you save up!!)

[Dukesy 0]

Indeed.

 

People like Martin Lewis (MoneySavingExpert forum) suggest and advise that its better to get a personal / business loan, searching and negotiating hard for the best rate rather than something which is linked with direct purchase (linked finance).

 

Lots of topics to read here.

[MintyDave 0]

How bizare. What a strange idea. I bet you cant actually buy gear on the djfinance site as it will be out of stock or refused credit.

 

I see that they are selling, for example, a denon dns1200 for £449 on dj deals then £425 on djfinance with interest free credit and yet a pair of denon + Mixer package for £50 more on djfinance.

 

Bonkers!

 

 

[McCardle 1]

drooling over gear that i either cant afford or cant justify buying

 

Seems like you've already justified not purchasing it to yourself. If you can't afford it or don't need it, then why are you even considering getting into hock for it?

 

Finance is the beginning of the end for anything other than emergency purchases IMO. Getting roof over your head, Funding a private heart bypass operation, or repairing your central heating because it broke - yes. Buying a new light just because somebody else has one or it looks pretty - nah don't be s-i-l-l-y thats not a business decision, its a personal 'must have' one!.

 

Besides, if you need to take out a loan for routine business equipment purchases, then perhaps it suggests that business ain't so good, so possibly the wrong time to be considering taking out the spade and digging in the number of liabilities against you. A healthy business with a full diary should consider saving a percentage of their business or dipping into their healthy business account and paying for new business equipment in cash - which of course also brings the opportunity of negotiating a discount. Finance will never bring a good deal, purely because of the number of businesses in the chain each with their own shareholders and grease monkeys , all with fat salaries, pensions and expense accounts. Cash will always talk and is a powerful bargaining tool.

 

If this isn't possible then perhaps your business doesn't have the future capital to invest in anything new at the moment, so now is the time to work out whether buying this equipment will actually increase your profitability?.

 

I know somebody who took out a £2000 loan some years ago, business became non existant and now they owe about £4500 on it and by the time they'll have settled the bill they'll have effectively paid circa £7000, which is actually enough to start another business, and instead of using the money to expand or diversify they will have blown it on one single piece of equipment which now resides in their house because they have no work. Dead Money, another millstone around ones' neck.

 

I can't criticise, I was also in serious debt through the spiral of doing much the same thing, and it lasted for exactly 10 years 3 months and 12 days, during which I held down 1 full time and 2 part time jobs and lived on baked beans to pay it all off. Never again.

 

Save your money, invest it wisely and get MINTED. Dave!

Edited January 25, 2010 by McCardle

[Robster 0]

At my hotel residency i turned up a 30 mins later than my usual set up time a few weeks ago due to the snow.

i was there at 7:30 when i start at 8:30 officially i normally am up and running 30 mins early and i start at 8:00 but this particular week i was rushing and loading and loading took longer due to the snow.

 

i was getting karaoke requests before i had finished setting up so i didnt set up two lights i normally do a diffraction laser and a NJD Datamoon and just had the cheap light weight Acme led penguins on.. I had people singing at 8:25 still 5 mins before my official start .

 

No one noticed about the lights , No one complained , no one cared it was a great fun night .

 

Sometimes do we use extra lights like dumbo uses his magic feather ? we can fly really well without them?

 

after this experience i realised that extra toys i thought i needed, i simply dont .

i could as mc cardle says gone into debt for stuff i don't need.

 

what i was pleased at was i realised it was "me" they were really hiring as long as i can turn up get them singing and the gear is of reasonable quality they don't really care.

 

If i wanted to go to the next level of presentation and do gigs of a different nature of course i would need better and more diverse equipment but again equipment as desirable as it may be is not the complete answer.

 

a stressed DJ because of the finance he owes must be a tough cookie to carry on without it affecting there performance.

 

most interest free deals i worked with when in retail worked this way.

 

true interest free ie no interest at all on the finance package ... this costs the retailer a perentage , the credit scoring is so high that people who will pass can buy it cash anyway.. it is actually illegal for the retailer to offer a discount price after offering a true interest free finance deal.

 

 

buy now pay later ..they often sell this as a interest free finance package when it is not really. you pay a deposit usually 10 % or higher , you pay nothing for varying periods of time ie six ten or twelve months then you have the option to pay the balance if you do no interest is charge if you dont it changes to a three year high interest finance deal . one finance company said to me they had a 76% conversion to the finance package because people forgot or mixed up dates . The finance company paid a small percentage to the dealer and a little more if payment protection was sold as well . the scoring criteria was a lot easier than true interest free because the profit margins were there for them to screw over the person signing up! They also had instant credit rules then too which they are stricter on now . so if you met certain criteria you passed without even the retailer ringing up the finance company!!!

 

Finance companies prey on the poorest people , giving high charge credit to the ones who cant afford it and true interest free to people who can afford it anyway!

 

Just like all banks they are there to make money not be your friend or help you.. they are there to run fake radio station adverts that make DJ's look stupid ..thanks for that advert halifax!!... phew that was a rant ..i will stop before i get anymore off topic lol

[MintyDave 0]

Seems like you've already justified not purchasing it to yourself. If you can't afford it or don't need it, then why are you even considering getting into hock for it?

 

No intention of doing anything as i said i was just window shopping and keeping an eye on whats what, how much etc. Surely we all do it. I can see how some people just have to have the trophy items and it gets them into trouble. We dont have any credit cards (apart form my business cc which i use for online cd purchases etc), store cards etc etc as we just dont live like that.

 

The only time we have ever had finance was last year when we bought a lcd tv for the newly refurbed living room. We intended on getting one and noticed currys were doing interest free for a year. we had the cash but thought why not. Locked the cash away in an isa made a bit of interest and paid for the tv within the 12 months. Nothing wrong with that.

 

I must be the only 38yr old with a pay as you go mobile. People are obsessed with ringing people all the time. I get phone companies ringing me all the time trying to save me money on my business phone and they soon hang up when i tell them i top up £20 every 2/3 months.

 

I am in the market for a new pa rig as mine is a bit tatty and weighs a ton but like everything else it will come when i have the cash and ccan shift my old gear. Again if a decent deal is available i may take advantage otherwise its off to the shops with a pocket full of notes

 

 

[Robster 0]

i was just window shopping and keeping an eye on whats what, how much etc. Surely we all do it.

 

 

heck yes ! i know thats what you meant matey , The Lamborghini garage in Stockport only knows my face by it being squashed up to the glass lol

 

As for pay as you go phones until last year i had one i am saving money by carefully shopping around and getting a contract phone , i used to top up about £30 a month on average i now have a contract which is £24.00 a month and i get more calls for my money BUT i can absolutely see why pay as you go works perfectly fine for some people. a couple of years ago For a period of about a year i didnt even have a mobile ..what bliss that was ..no mrs asking where i was or what i needed to pick up from the shop ..no kids wanting lifts etc quess what i got as a present one Christmas..then man servant rob was back lol

 

[MintyDave 0]

heck yes ! i know thats what you meant matey , The Lamborghini garage in Stockport only knows my face by it being squashed up to the glass lol

 

As for pay as you go phones until last year i had one i am saving money by carefully shopping around and getting a contract phone , i used to top up about £30 a month on average i now have a contract which is £24.00 a month and i get more calls for my money BUT i can absolutely see why pay as you go works perfectly fine for some people. a couple of years ago For a period of about a year i didnt even have a mobile ..what bliss that was ..no mrs asking where i was or what i needed to pick up from the shop ..no kids wanting lifts etc quess what i got as a present one Christmas..then man servant rob was back lol

 

Remember waynes world with wayne looking at the fender strat uttering the words 'one day you will be mine' -

been there done that and got the fender strat - That was the last census £450 earnt £450 spent.

 

Re phones - I know where my off buton is and use it frequently!!!