Anyway I must go and pay for this coffee before the Mugabe style hyperinflation takes over and I have to pawn the bus to pay for it....
Fair enough- Back in the '80s it's well known that mortgage interest rates we through the roof but does anyone know what the interest rates were for cash on deposit? Can't have all been bad news?
yes its true its all down to Brexit ...everything ....there were never redundancies or unemployment or expensive petrol or high interest rates or in fact anything negative prior to this ....a lot of companies have seen a real boom in business due to the week pound .......
Don't know would have been paying for my motorbike on HP. remember HP ... I was reading today that keeping cash on deposit is generally a bad idea. a fraction of the growth from stock market investments ... but I can't remember where I read that ... telegraph or guardian? Proof that everything was better in the old days
Apart from the last sentence, I find this a surprising statement that I believe would be hard to qualify...
I do make a rule of never buying depreciating assets on HP. A fools game if ever I saw one. Did you manage to pay off the debt or was the motorcycle repossesssd? With regard to cash vs equity investments; I fear unless you reinvest dividends then you will be sorely disappointed with the return of either.
I haven't, but my point is this. 630 replies ( Mostly by the same people ) 14000 views. Has anyone changed their opinion, due to reading this thread? I haven't read it all for a while, as the opinions are so deep seated it dismays me, because it is indicative of today's debating technique ( he who shouts loudest) Surely someone must have read it and thought ' Actually he/she has a very valid point and it might make me change my view?
Why would it have been repossessed, it was the 80s we didn't have easy access to bank loans or credit cards. it was a very nice FS1E and I swapped it in for a larger faster Kawasaki. I was on £20 a week.
You see - it was the same then as it is now. People taking out credit without understanding the mechanics of the contract they are entering in to. As you don't know why the motorcycle could have been repossessed:in brief. The motorcycle would have been the security for the finance - if payments were not made in a timely manner then the security could have been seized by the company offering the credit and sold to repay the outstanding balance - if the balance was not cleared by the sale of the vehicle you would have still been liable for the remaining funds until the account was settled and closed. In the high inflationary and rising interest environment of the '80s it looks like you had a lucky escape. I would advise reading the smll print more closely before entering into any further credit agreements.
why ... I was an apprentice on a secure contract, the weekly HP sum was £3 i.e. 15% of my weekly pay, it was for a year, I knew exactly what I was doing. FFS I can't see anything lucky with that and it was my transport to get to the training centre.
