Thanks Broncos1 but I don't think you are right. I just checked with them and the 10% deposit is part of the payment so for $5,000 its $173.08 x 26 payments plus 10% deposit plus the fortnightly and monthly account fees. I can't see how it works for that amount, maybe for lower amounts the return starts to improve. Wondering if there is some sort of commission from the retailer to TSM?
I am looking at buying a nice new road bike for $5k, why not use FIDO and save my own money on deposit which gets 5.8% and use FIDO's? I reckon that will save me roughly $160 over the 12 months!
I wonder when you make the final payments the account stays open and you continue to pay the monthly fee. Even so, wondering how they make their money. Perhaps it is aimed for amounts below say $1,000. I know Certegy make good money out of it so clearly I'm missing something.
Thanks in advance for anyone else's ideas.
TSM Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held