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AIBU?

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Original poster

To get a sofa on finance

65 replies

hoomallow · 21/08/2023 17:44

We have my parents’ old leather sofa currently but it’s very mismatched in the house. Nothing wrong with it but it looks very tired. I want a new one, but balking at the prices! Next, Dunelm, DFS - all extortionate. Can’t find any good second hand ones on marketplace as marketplace is seemingly full of those fake ads from scammers

Do people usually pay outright for such big ticket items or is it quite normal and reasonable to pay monthly, what do you do? Obviously whatever we buy I want to last, I don’t want to be too precious about the sofa either as we’re hoping to add a little one to the family soon.

OP posts:
Alloveragain3 · 21/08/2023 18:24

Not doing 0% finance for a sofa is silly.

You can be making interest on your money in a savings account as you pay it back to the sofa company slowly.

Obviously don't do this if

  1. You really don't need a new sofa
  2. There's a risk you'd miss a payment
BIossomtoes · 21/08/2023 18:25

0% finance is particularly sensible now you can get decent interest on your savings. It’s a no brainer for us.

summer3219 · 21/08/2023 18:26

Got mine from DFS on 0% finance over 4 years, sat on it now 20 years later. Wouldn't pay outright for anything (within reason) if 0% finance was available.

SM4713 · 21/08/2023 18:27

I've never bought anything on finance- only the house mortgage. I guess if its 0% interest, you are diligent in paying it back on time etc then it adds to your credit rating.

Devilsmommy · 21/08/2023 18:28

SCS finance, £52 a month for 2 years. Not in a position to pay fully outright so was the only way to do it. And so glad I did, I love them 😁

Wotchaz · 21/08/2023 18:28

In your position I’d buy something cheap and second hand (can still be decent, second hand sofas have no value so for not much money you can get something pretty smart), and then save up to get a new sofa in one of the big sales when 0% finance isn’t likely to be available. Never could bring myself to pay full retail price for a sofa!

Ap24 · 21/08/2023 18:30

We had the money to buy our sofa outright. But we got it on 0% finance anyway, I don't know why you wouldn't. We are still paying it off and have a year left. Due to inflation and the money we have made on keeping the money invested it was a no brainer.

caringcarer · 21/08/2023 18:41

I'd not get into debt for a sofa. Especially if the one I had was not broken just tired.

ActDottie · 21/08/2023 18:41

We always save up to buy our furniture out right. I’d rather not have additional monthly costs to commit to.

OnlyFannys · 21/08/2023 18:47

I got 0% finance on mine as well over 4 years, I pay about £20 per month and it will be paid off this year. Its brilliant and still in very good condition. Some people are terrified of finance and wouldn't do that but we all have different levels of risk we are willing to accept

RaininSummer · 21/08/2023 18:51

Sofas and carpets are the only things I have ever bought on interest free finance.

mynewusername2023 · 21/08/2023 19:10

If it's 0% we'd always put it on finance. Then the bulk of the money can sit in our account especially with interest rates being higher at the moment

tracylamont13 · 21/08/2023 19:11

We buy what we can from marketplace or save up until we can afford the one we want.

monpetitlapin · 21/08/2023 19:23

I bought outright from Ikea. TBH I think the 0% finance is a false economy if you could have bought a sofa outright for £500 from Ikea or Argos/Habitat and instead bought one for £2000 from DFS to get finance. You'd be paying 400% more which wipes out the APR and then some.

somelikeithotternow · 21/08/2023 19:28

Whatever you do DO NOT under any circumstances go to DFS! The worst type of scamming scammers!!

Fiekcjdiwldnfjri · 21/08/2023 19:32

I definitely would! Some people pay more for their phone contract than we’ve paid for sofas in the past.

Youdontsay87 · 21/08/2023 19:34

Never brought brand new. Our first set was off gumtree for £60 and lasted 6 years.
And our second set was from a charity furniture shop. Laura Ashley real leather sofas for £400 immaculate condition.
I would never get into debt for a sofa no way.

Bluevelvetsofa · 21/08/2023 19:35

0% finance is the way to go, providing you can make the repayments of course. It adds to your credit score, as long as you’re paying regularly. We’ve had a couple of sofas from DFS and been pleased with them. Depends what grade you go for.

Namechangedforthis25 · 21/08/2023 19:37

Debt isn’t always bad - 0% interest is fine and makes sense right now. You lock in a price before inflation impacts it and your savings can sit in an interest bearing account - perfect.

the alternative is you keep saving an elusive amount for that sofa - by the time you think you have saved enough - well you haven’t.

Namechangedforthis25 · 21/08/2023 19:39

0% is literally paying off in instalments. There isn’t any downside as long as you can pay the instalments. It’s totally different to using an interest bearing loan or credit card where you are incurring additional money

Maryandherlamb · 21/08/2023 19:39

Sofa was the one piece of furniture we couldn't afford so got on finance. We pay 20 quid a month (0% interest) and its over 4 years. Definitely worth doing.

Snozzlemaid · 21/08/2023 19:43

0% finance at DFS here too. Couldn't fault it and would do the same again.
I think we only paid about £30 a month.

Soozikinzii · 21/08/2023 19:43

As long as its 0% i can't see the problem myself ? Pay it off as fast as you can ?

Silvers11 · 21/08/2023 20:02

0% finance for us. We have bought more than once from DFS - paid monthly over 4 years with 0% interest.

But as others have said, not a good idea if you are hoping to have a baby very soon. Better to stick with the old one for a bit

PaminaMozart · 21/08/2023 20:04

VenusClapTrap · 21/08/2023 18:24

For the love of god don’t buy a new sofa when you’re planning to start a family. Wait till they’re past the mess years. I’m so glad we waited. I never allow food and drink into the lounge but the sofas still got all sorts of shit dropped, spilled, puked, peed, drawn and scratched on them. It’s inevitable. Even if your own kids are unusually careful and well trained, their friends won’t be.

This.

Get some slip covers and nice cushions in the meantime