Payment scheme for season tickets

[riverroyal]

I may use the payment scheme this year for buying my season ticket and pay in installments. Anyone do this last seas? how much a month is it and when can you apply?

[Dirk Gently]

It's through an external company, Zebra Finance, for the first time this season, so it's quite different from last year when it was done through the club.

I think it's payments spread over 10 monthly installments, plus there'll be a service charge as well - don't know yet what this will be.

[M4 Junction 11]

Payment Instalment Scheme
For the 2007/8 season we have joined with Zebra Finance to offer supporters the opportunity to purchase their Season Ticket and spread the payment over 10 months. Full details of this scheme, which is an arrangement between yourself and Zebra Finance (not Reading FC), are enclosed with the renewal application form that is being sent in the post. You can apply by sending the form with your season ticket renewal. Please note, only ONE application form is required irrespective of the number of season tickets you are paying for.

The club are not giving much information of the details and the Zebra Finance website doesn't either. My guess is there'll be a big +20% variable interest rate.

[cheeryoleary]

http://www.stoozing.com/purchases.htm

Sainsburys offer 10 months interest free credit with a 2.25% minimum monthly repayment.

Let's say you pay 545 for a season ticket. Lump it on the credit card and pay 54.50 per month for ten months.

or

pay approximately 15 per month (minimum payment), and sit on your cash (if you have it) in a high interest account, paying the balance off after the 10 months has passed.

[anR]

[url=http://www.barclaycard.co.uk/products/apply/card_range.html[/url]Click on the 5th one down of the card range[/url]

Interest free for payments on season tickets...

[Huntley & Palmer]

Just had my ST pack through today. The payment breakdown for the finance deal with Zebra is as follows :

Lower West, East & North Stand

Adult £545 - Monthly payment £59.17 Total payable £591.70
65 & over £385.00 - Monthly payment £41.80 Total payable £418.00
17-21 £385.00 - Monthly payment £41.80 Total payable £418.00
13-16 £275.00 - Monthly payment £29.86 Total payable £298.60
12 & Under £165.00 - Monthly payment £17.92 Total payable £179.72

That's not bad at all in my eyes and I will be using it for next season

[M U R T Y]

i think they say its 19.8 %apr, which is pretty bad...

[weybridgewanderer]

not sure who is saying its 19.8% APR

You are paying £46 more than a full season ticket so you are paying 8% interest spread over 10 payments.


edit ...

hmmm bit of research shows the APR is a horendous calculation and indeed a total interest charge of 8% is workingout around 19.8% APR

[M U R T Y]

i am saying its 19.8% because thats what i read on the info sheet

[Huntley & Palmer]

That's the annual percentage rate, which is irrelevant as you are paying it over 10 months regardless and no more

[Wycombe Royal]

That's the annual percentage rate, which is irrelevant as you are paying it over 10 months regardless and no more

But it has to be stated by law, even though it means nothing to most people.

[Huntley & Palmer]

Indeed, I just assumed that most people would have a credit card and realise what it meant. The stated amounts on the leaflet are all you pay, which is a fair amount I would say considering the amount of time you are spreading it over

[Wycombe Royal]

Indeed, I just assumed that most people would have a credit card and realise what it meant. The stated amounts on the leaflet are all you pay, which is a fair amount I would say considering the amount of time you are spreading it over

It is a fair amount, but the sensible option is still to apply for a Barclaycard.

[Diamond]

my mate is a Saints season ticket holder. They offer two options

interest free over 6 months

or

1.5% over 8 months

are we being ripped off here??

[weybridgewanderer]

is the 1.5% PAr or monthly interest

looking at APR calculaters (which is some really ridiculous formular) about 1.5% per month is about 19.5% APR

[RoyalBlue]

not sure who is saying its 19.8% APR

You are paying £46 more than a full season ticket so you are paying 8% interest spread over 10 payments.

Are you an accountant? I don't think interest payments can be calculated in such simplistic terms - hence APR.

19.8% APR says to me that it is not a cheap way of borrowing the money.

Not knocking anyone at the club for providing the facility (look Behindu!) but would advise people to seek cheaper ways of doing it.

[Huntley & Palmer]

Indeed, I just assumed that most people would have a credit card and realise what it meant. The stated amounts on the leaflet are all you pay, which is a fair amount I would say considering the amount of time you are spreading it over

It is a fair amount, but the sensible option is still to apply for a Barclaycard.

I would say the Zebra scheme would be a better option for those that possibly do not have much of a credit rating, seeing as the money is deducted from a current account by direct debit rather than down to the individual to pay it back as they see fit. Certainly less dangerous

[Huntley & Palmer]

my mate is a Saints season ticket holder. They offer two options

interest free over 6 months

or

1.5% over 8 months

are we being ripped off here??

Nope, RFC have just subbed the admin of sorting season tickets out to another company. So if anything Zebra are the one's offering the 8% interest payable rate over 10 months, take it or pay it whole in one go

[Huntley & Palmer]

not sure who is saying its 19.8% APR

You are paying £46 more than a full season ticket so you are paying 8% interest spread over 10 payments.

Are you an accountant? I don't think interest payments can be calculated in such simplistic terms - hence APR.

19.8% APR says to me that it is not a cheap way of borrowing the money.

Not knocking anyone at the club for providing the facility (look Behindu!) but would advise people to seek cheaper ways of doing it.

8% over ten months is though. As I say, I think taking a credit card out to pay off your ST is a very dangerous thing to do, always the temptation to keep spending on it if you can't police yourself well enough

[Wycombe Royal]

Indeed, I just assumed that most people would have a credit card and realise what it meant. The stated amounts on the leaflet are all you pay, which is a fair amount I would say considering the amount of time you are spreading it over

It is a fair amount, but the sensible option is still to apply for a Barclaycard.

I would say the Zebra scheme would be a better option for those that possibly do not have much of a credit rating, seeing as the money is deducted from a current account by direct debit rather than down to the individual to pay it back as they see fit. Certainly less dangerous

Maybe so, but if you have the sense to pay it back over a fixed period of time then you won't have to pay any interest on it - you could even pay it over the full twelve months. That way you would save yourself over £45 (which is what Zebra charge for the finance).