mash
New Member
Posts โข 377
Likes โข 230
September 2007
|
Interest Free Loans to buy art, by mash on Jan 10, 2010 17:06:53 GMT 1, Apologies if this has been dealt with elsewhere but has anyone had any experience of using this scheme to buy art?
www.artscouncil.org.uk/ownart/
|
|
gilsteph
Junior Member
Posts โข 1,434
Likes โข 300
September 2006
|
Interest Free Loans to buy art, by gilsteph on Jan 10, 2010 17:17:59 GMT 1, Yep...its great! :-)
Yep...its great! :-)
|
|
Grubster
Junior Member
Posts โข 1,226
Likes โข 1
August 2008
|
Interest Free Loans to buy art, by Grubster on Jan 10, 2010 18:20:59 GMT 1, thats crazy!!! can you use this if you are from overseas? talk about wanting to boost the art economy!
thats crazy!!! can you use this if you are from overseas? talk about wanting to boost the art economy!
|
|
|
Interest Free Loans to buy art, by stillborncrisps on Jan 10, 2010 18:30:49 GMT 1, Those sort of things were even around in the 'boom' days, not just recently.
Those sort of things were even around in the 'boom' days, not just recently.
|
|
|
Interest Free Loans to buy art, by grantb on Jan 10, 2010 18:42:56 GMT 1, dont really buy from the participating galleries though ?
dont really buy from the participating galleries though ?
|
|
mash
New Member
Posts โข 377
Likes โข 230
September 2007
|
Interest Free Loans to buy art, by mash on Jan 10, 2010 18:50:17 GMT 1, I think Opus Art are participating which have some Peter Blake stuff.
I think Opus Art are participating which have some Peter Blake stuff.
|
|
|
gilsteph
Junior Member
Posts โข 1,434
Likes โข 300
September 2006
|
|
|
|
Interest Free Loans to buy art, by mookie on Jan 10, 2010 19:04:05 GMT 1, Don't think I would be happy taking out a loan for a luxury item like art... it might be zero % interest over whatever months but that will mean the galleries won't give you a big a discount as a cash payer. Looking at the list of galleries the ones I recognise charge are premium for their art anyway.
Don't think I would be happy taking out a loan for a luxury item like art... it might be zero % interest over whatever months but that will mean the galleries won't give you a big a discount as a cash payer. Looking at the list of galleries the ones I recognise charge are premium for their art anyway.
|
|
Standard
New Member
Posts โข 908
Likes โข 238
August 2008
|
Interest Free Loans to buy art, by Standard on Jan 10, 2010 19:33:45 GMT 1, Some nice Denning pieces at Cosa London who participate in this scheme
Some nice Denning pieces at Cosa London who participate in this scheme
|
|
|
Interest Free Loans to buy art, by notworthit on Jan 10, 2010 20:01:59 GMT 1, Don't think I would be happy taking out a loan for a luxury item like art... it might be zero % interest over whatever months but that will mean the galleries won't give you a big a discount as a cash payer. Looking at the list of galleries the ones I recognise charge are premium for their art anyway.
nope, the 'loan' is payed from hitachi finance and paid directly to the galery/artist, no reason why you can't get the same discount as if you paid cash. It's not like the gallery/artist is lending you the cash
Don't think I would be happy taking out a loan for a luxury item like art... it might be zero % interest over whatever months but that will mean the galleries won't give you a big a discount as a cash payer. Looking at the list of galleries the ones I recognise charge are premium for their art anyway. nope, the 'loan' is payed from hitachi finance and paid directly to the galery/artist, no reason why you can't get the same discount as if you paid cash. It's not like the gallery/artist is lending you the cash
|
|
|
Interest Free Loans to buy art, by mookie on Jan 10, 2010 20:25:39 GMT 1, Don't think I would be happy taking out a loan for a luxury item like art... it might be zero % interest over whatever months but that will mean the galleries won't give you a big a discount as a cash payer. Looking at the list of galleries the ones I recognise charge are premium for their art anyway. nope, the 'loan' is payed from hitachi finance and paid directly to the galery/artist, no reason why you can't get the same discount as if you paid cash. It's not like the gallery/artist is lending you the cash
Sorry but you're wrong. The galleries will be charged in some way to be a member of the scheme, either through admin charges or some sort of licence will be needed to comply with the consumer credit act as the gallery will be explaining the rules of the credit aggrement to the customer... whatever it is, there will be a charge from hitachi or the scheme provider... just like they get charged if the customer uses a credit card. Like I said cash will always get you a bigger discount., whatever it is you are buying... in particular from a small-medium sized business like an art gallery.
Don't think I would be happy taking out a loan for a luxury item like art... it might be zero % interest over whatever months but that will mean the galleries won't give you a big a discount as a cash payer. Looking at the list of galleries the ones I recognise charge are premium for their art anyway. nope, the 'loan' is payed from hitachi finance and paid directly to the galery/artist, no reason why you can't get the same discount as if you paid cash. It's not like the gallery/artist is lending you the cash Sorry but you're wrong. The galleries will be charged in some way to be a member of the scheme, either through admin charges or some sort of licence will be needed to comply with the consumer credit act as the gallery will be explaining the rules of the credit aggrement to the customer... whatever it is, there will be a charge from hitachi or the scheme provider... just like they get charged if the customer uses a credit card. Like I said cash will always get you a bigger discount., whatever it is you are buying... in particular from a small-medium sized business like an art gallery.
|
|
Standard
New Member
Posts โข 908
Likes โข 238
August 2008
|
Interest Free Loans to buy art, by Standard on Jan 10, 2010 22:04:01 GMT 1, There will be some cost but it is minimal for the retailer.
As far as my memory serves me it would be illegal for the gallery to ask for a different price after you had negotiated any other price, regardless of payment option.
There will be some cost but it is minimal for the retailer.
As far as my memory serves me it would be illegal for the gallery to ask for a different price after you had negotiated any other price, regardless of payment option.
|
|
graffalo
New Member
Posts โข 275
Likes โข 0
May 2008
|
Interest Free Loans to buy art, by graffalo on Jan 10, 2010 22:36:56 GMT 1, Finance companies don't give free loans. Hitachi will be an invoice dicsounter (or something similar) which means if the retailer sells to you at 100 Hitachi will pay the retailer 100 less a percentage (to compensate them for the risk that you may not pay the 100 in a years time) so the retailer will sell at a margin that takes this into account. I agree mookie cash is king!
Finance companies don't give free loans. Hitachi will be an invoice dicsounter (or something similar) which means if the retailer sells to you at 100 Hitachi will pay the retailer 100 less a percentage (to compensate them for the risk that you may not pay the 100 in a years time) so the retailer will sell at a margin that takes this into account. I agree mookie cash is king!
|
|
|
Interest Free Loans to buy art, by mookie on Jan 10, 2010 22:39:45 GMT 1, There will be some cost but it is minimal for the retailer. As far as my memory serves me it would be illegal for the gallery to ask for a different price after you had negotiated any other price, regardless of payment option.
I say I will pay by cash during negotiations not drop it in once a price has been agreed. Anyway, I'm bored of stating the obvious that cash is king. IMO the above is a good deal as long as a payment is not missed.
There will be some cost but it is minimal for the retailer. As far as my memory serves me it would be illegal for the gallery to ask for a different price after you had negotiated any other price, regardless of payment option. I say I will pay by cash during negotiations not drop it in once a price has been agreed. Anyway, I'm bored of stating the obvious that cash is king. IMO the above is a good deal as long as a payment is not missed.
|
|
|