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Checked on the details for the instalment pay plan for season tickets.. for a £290 season ticket (yes, outstanding value) you pay another £24.65 on top for the privilege of paying monthly! not the best of ideas to attract people in, the cost of another match on top. Poor.
The club's a business and if season ticket holders don't pay up front I guess the club reckon they will lose out on interest gained from investing our season ticket money, even for a short term.
Cheaper than most car insurance firms charge - seems a fair charge to me.Quote:
Originally Posted by grestyraider7
Really that generous?
That rate of interest (8.5%) is on a decreasing balance, meaning that the APR is around double that.
Meanwhile, bank rate is 0.5%, and the annual rate of inflation, on which pay rises may be based, is a big fat zero.
Sounds like a nice little earner for the Bank of Norman.
Even with the admin charge,it works out at £13-68 per game,which to me is stilll good value. :)
I'm not going to defend the phased payment interest, but I suspect that the agreements signed by supporters are not with the club but with a finance house who run this for them, even though the agreements may well have the club crest, etc, at the top. That's the way that insurance companies, car sales etc do it and offers less risk for the club.
The club would get the £290 from the finance house and they (the finance house) would collect and pocket the interest, not the Alex. That way, as has been said, the Alex know their season ticket revenue is in the bank before the season starts and can budget accordingly, knowing that the full ticket price is guaranteed.
Still a rip off in hard times like these, oh sorry DaveCam, we all have it so good!!!