[TAG] The Public Domain: Here Today, Gone Tomorrow

[Jimmy O'Regan]

Mike Orr wrote:

> Jimmy O'Regan wrote:
> 
>> On 9/3/05, Mike Orr <mso at oz.net> wrote:
>>  
>>
>>> Jimmy O'Regan wrote:
>>>   
>>>
>>>> Mike Orr wrote:
>>>>     
>>>>
>>>>> Jimmy O'Regan wrote:
>>>>>       
>>>>>
>>>>>> The ESB, Ireland's electricity company (erm... semi-state company)
>>>>>> provides a hire purchase facility for electrical goods, where the
>>>>>> charge is added to your electricity bill (which is pretty 
>>>>>> convenient).
>>>>>>         
>>>>>
>>>>> What kinds of "electrical goods" are available?
>>>>>       
>>>>
>>>> Everything from blenders to washing machines, digital cameras to
>>>> computers, TVs, heaters, etc. They don't have a wide range of brands,
>>>> but those they do have are pretty reputable.
>>>>     
>>>
>>> And what is the lease rate compared to the purchase price?
>>>
>>>   
>>
>>
>> Depends on the amount of repayments. Seems to be around 22.9% APR, and
>> it seems they're not calling it 'hire purchase' anymore, it's an
>> 'appliance loan' (administered by the Irish branch of the Bank of
>> Scotland). Have a look for yourself:
>> http://esb.ie/retailasp/esb_shops/product1.asp?cat=21&subcat=3&prodcode=6272840 
>>
>>  
>>
> 
> 
> 22.9% interest?  That's even worse than putting it on a credit card.  
> The maximum credit cards can charge here is 18%.  But if they're talking 
> loans and APR, that's different than I was talking about.  I was talking 
> about something more like a subscription.

I don't have a credit card, so I can't say for sure, but I think that 
rate is roughly on par with credit card charges here. I did mention that 
it was hire purchase, I assumed you knew what that meant, though I will 
admit I was wrong to say "they're not calling it 'hire purchase' 
anymore", it quite simply *is* a loan.