LG OLED CX55/65 Buying Group Thread (for all locations across India)

[lightgamer]

Also how does no cost emi result in a additional saving of 30k ?

Let's say you buy a TV worth 2 lacs on no-cost EMI. The problem is that RBI doesn't allow for no-cost EMIs to function as such (2 lac principal + 0 interest rate), so what banks do is that they take the hit and give you a lower principal so that after adding the interest the total is 2 lacs.

So on a 2 lac TV on no-cost EMI, you'll be given a loan of around 1.7 lakhs and have an interest of 30k (these figures will change depending on EMI duration, interest rate etc etc..). Now, what you can do is call the bank 1-2 days later and say that you want to cancel the loan. You'll only be asked to pay the principal + some small closure charges.

Alternatively, you can buy the TV on no-cost EMI of two years and put the 2 lacs in some growth based fund/something else from where you pay the EMI. This will also give you around 11-12% return (you'll only get 1 year worth of return in two years because the amount will keep linearly reducing as you pay EMI).

Basically, if a no-cost EMI option is available, it's stupidity to buy it on cash even if you have it. It in itself is equivalent to ~15% saving.

 

[dillihifi]

Let's say you buy a TV worth 2 lacs on no-cost EMI. The problem is that RBI doesn't allow for no-cost EMIs to function as such (2 lac principal + 0 interest rate), so what banks do is that they take the hit and give you a lower principal so that after adding the interest the total is 2 lacs.

So on a 2 lac TV on no-cost EMI, you'll be given a loan of around 1.7 lakhs and have an interest of 30k (these figures will change depending on EMI duration, interest rate etc etc..). Now, what you can do is call the bank 1-2 days later and say that you want to cancel the loan. You'll only be asked to pay the principal + some small closure charges.

Alternatively, you can buy the TV on no-cost EMI of two years and put the 2 lacs in some growth based fund/something else from where you pay the EMI. This will also give you around 11-12% return (you'll only get 1 year worth of return in two years because the amount will keep linearly reducing as you pay EMI).

Basically, if a no-cost EMI option is available, it's stupidity to buy it on cash even if you have it. It in itself is equivalent to ~15% saving.

There is a thread https://www.hifivision.com/threads/lg-c9-oled-at-1-2l-effective-on-amazon-hear-me-out.80596/ on how the different banks process these requests and some experience from the FMs

 

[Donivlapog]

Lightgamer is right. Hypothetically, If you had bought 1000 shares of say Balrampur Chini @Rs.92000 in March 2020 and you have a 14 month's emi of Rs.14250 on a 2 lakhs TV purchase, your Rs.92000 equals Rs.3,20,000. Plus that TV worth 200000 would still amount to 2,92,000. You are left with a 30k profit. But direct capital market is risky and requires stock picking skills and luck and conviction over future earnings of the company you choose. Let's say you picked a small cap mutual fund instead in March 2020. Which is high risk high return scheme. Your 26 rupees NAV would have grown to 56. So your 100000 investment would have grown to 2.15 lakhs (again Mutual funds are subjected to market risks) which would have knocked off 1.15 lakhs of the 2 lakhs you paid for the TV. The zero cost emi has helped you in whatever way possible in that 14 month's. In economic jargon it is a win win - one of the ways how dynamism of economy has prevailed over all these years of self-aware human life. In other words the intelligent investor can buy any asset type if he sets his mind to it.

 

[Maint1234]

Probably pick up the cx 65. Will try and get it around 2.0 . In this part of the country, prices seem inflated as compared to the west and south.
At some point the price has to be dialed out. Or you can't buy anything. We spend so much on our 4 wheelers without worrying about the few 1000s saved or spent.

 

[Donivlapog]

2.0 is not bad at all. I got it for 1.9 because I had bought a 75" lcd tv five months earlier and I kept on talking to the salesman on the best possible price. I was offered BX for that price but I somehow pushed it to a CX at Croma. My previous purchase history played a major part, so 2 lakhs is not bad deal.

 

[msankadi]

Basically, if a no-cost EMI option is available, it's stupidity to buy it on cash even if you have it. It in itself is equivalent to ~15% saving.

But wouldn't taking an emi impact my credit score?

 

[Murlidher]

I received below quote from LG store recently:
65GX -01 NO
RS 225000/- WITH interest
9375×24 EMI
9000/- CASH BACK
3 YEARS WARRANTY
1 YEAR INSURANCE FREE

 

[lightgamer]

But wouldn't taking an emi impact my credit score?

Taking a loan always increases your credit score. What decreases it is defaulting or late payments.

 

[msankadi]

Taking a loan always increases your credit score. What decreases it is defaulting or late payments.

I have been working in the credit card industry(although for north America) for past 15 years and I can conclusively say that credit neediness never ever increases your credit score

 

[lightgamer]

I have been working in the credit card industry(although for north America) for past 15 years and I can conclusively say that credit neediness never ever increases your credit score

Dunno man. That's what I heard. Also from my cibil score I can say that when I use my card more (~1 lac per month) my score generally increases. Obviously you gotta pay back on time.

My brother also works in the mortgage industry and he says the same. Taking more credit reduces the score, but taking less credit than you can and paying back on time increases it. It shows that you can be trusted to pay it back.

Taking a small amount like 2 lacs won't impact it much anyway. If you're buying a 2 lac TV, you probably already make atleast 3-4 lakhs a month and your credit card monthly limit should be >10 lakhs (obviously exceptions exist but as a rule of thumb). For such a person, I don't think it'll make any difference.

 

[Maint1234]

I received below quote from LG store recently:
65GX -01 NO
RS 225000/- WITH interest
9375×24 EMI
9000/- CASH BACK
3 YEARS WARRANTY
1 YEAR INSURANCE FREE

Excellent for 65GX.
I have 2 phone offers of 2.05 and 2.08 for CX 65.
With both insisting that i contact them before buying from anyone else.

 

[Maint1234]

Finalized the cx65 at 2 L plus 199 +1000 ( including gst or something).
But he says 6 months emi is interest free but if i go for 12 months emi it will be approximately another 1200 .
So for 12 months its coming to around 2.02

 

[lightgamer]

Finalized the cx65 at 2 L plus 199 +1000 ( including gst or something).
But he says 6 months emi is interest free but if i go for 12 months emi it will be approximately another 1200 .
So for 12 months its coming to around 2.02

That's a good price. Make sure you get a new unit with 0 hours used.

 

[dillihifi]

i figure you want it badly. Otherwise makes better sense to wait for the C1

 

[Donivlapog]

i figure you want it badly. Otherwise makes better sense to wait for the C1

G1 has evo panel. Does C1 have evo? What difference it makes from C10?

 

[Donivlapog]

Finalized the cx65 at 2 L plus 199 +1000 ( including gst or something).
But he says 6 months emi is interest free but if i go for 12 months emi it will be approximately another 1200 .
So for 12 months its coming to around 2.02

Good pricing. You will not regret the choice of TV you have selected.

 

[Maint1234]

i figure you want it badly. Otherwise makes better sense to wait for the C1

I don't want much tv. Its a impulse buy. I Expect a lot of flak as we have 4 tvs of various age groups at home and just 3 inhabitants. I have a 14 year old 32" sony lcd as my main tv.
Wish me luck.

 

[Donivlapog]

I have been working in the credit card industry(although for north America) for past 15 years and I can conclusively say that credit neediness never ever increases your credit score

In India if you have applied for more loans and have had excellent track of repayment, the creditors start believing the debtors more and they grant other types of loans. For instance you have an existing car loan, it would help you get a personal loan based on the fact that some other creditor has granted you loan and it won't be non-performing kind of belief. In USA the credit bureaus work different.

 

[dillihifi]

deleted

 

[dillihifi]

I don't want much tv. Its a impulse buy. I Expect a lot of flak as we have 4 tvs of various age groups at home and just 3 inhabitants. I have a 14 year old 32" sony lcd as my main tv.
Wish me luck.

similar is the case with me. I too have a 32 inch samsung lcd packed inside my bed . But do go ahead I got the 65 CX in Jan and it is surely mind blowing.