Hi Pete,
I’ll definitely be taking you up on this for my CE in the coming months.
I had a major brain ■■■■ and failed my first attempt 2 years ago and bottled it. It’s time to try again!
Peter Smythe:
The £1,000 can only be used as part payment of a full LGV or PCV driving course and is an alternative to our normal discounts.Any questions, fire away.
Happy Christmas all,
Pete
This seems like a genuinely good offer for those who it can help.
However you did say ask some questions… Are you removing the 10% and the free cpc with this offer? Because if so then this isn’t really interest-free. Take a class 2 course with you. It would be £1400 rather than £1260 with discount. Then you have CPC on top so lets call that another £200 (maybe more I don’t know). But suddenly the interest-free is costing the person around £500 and actually works out at about 60% apr.
I might have got this all wrong. And this might be a good deal for someone who has terrible credit - and who can earn far more driving than currently. But for most people, if I’m right they would be better off borrowing the money or saving up.
Are you removing the 10% and the free cpc with this offer?
The free cpc is an offer that comes round from time to time and is not part of our standard offering. The interest free credit is an alternative to taking the discount otherwise on offer. Bear in mind that the huge majority of our customers pay the full price, no questions, no discounts. But we’ve offered 10% discount to Trucknet users for years and it’s popular. So it’s important to keep it in context. If someone wishes to pay in full (whether that be cash, bank transfer, credit card etc) they can have 10% discount. For those who are struggling to find the sum in full, the offer of interest free credit might be welcome.
A similar situation arises sometimes when buying a car. You may be offered a great credit deal, or 3 years free servicing or whatever. Nothing wrong in that. The customer simply choses the deal that suits them the best rather than it be dictated to them.
I have absolutely no intention of misleading anyone; I’m known for integrity and transparency. So, any more questions, I’m here!
Pete
Forgive me for asking are you saying the course must be paid in full through the instalments before the training can start?
Paul
elmet training:
Forgive me for asking are you saying the course must be paid in full through the instalments before the training can start?Paul
Be a bit pointless if that was the case so it stands to reason that it is payable for the 10 months after the course ends
ROG:
elmet training:
Forgive me for asking are you saying the course must be paid in full through the instalments before the training can start?Paul
Be a bit pointless if that was the case so it stands to reason that it is payable for the 10 months after the course ends
People have bad credit score for a reason?
Pete, you’ve been very helpful to a lot of people (including me) and I can see where you are coming from with this offer. However, I can’t help but feel the need to make a few comments:
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People who have a good credit score could get a 0% interest credit card deal (balance transfer) for anywhere up to 3 years (yes there is a fee but they vary). So it doesn’t really apply to those who can obtain credit elsewhere at preferable rates (as you’ve alluded to).
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As this is being posted here it must be assumed people know about the 10% discount, so removing that from this offer means a person will be paying £140 more for a Cat C course, so it’s not really without a cost. It means that someone taking up this offer via this forum will pay £140 more because this offer is advertised here. As always, it seems those without money pay more in the long run… IF the offer was alongside the usual 10% discount then it would be truly without extra cost.
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As a new member here and someone looking to do their HGV I can say (as I’m sure many can) that choosing a training provider is a bloody nightmare. No qualified instructors needed, no quality control needed over anything it seems. That said, I do applaud Pete and other providers who try to improve standards and accountability. Lastly, I’m not trying to have a pop at Pete here, I just have an issue with some of the things I’ve mentioned.
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I’ve waffled on enough
elmet training:
ROG:
elmet training:
Forgive me for asking are you saying the course must be paid in full through the instalments before the training can start?Paul
Be a bit pointless if that was the case so it stands to reason that it is payable for the 10 months after the course ends
People have bad credit score for a reason?
I guess Pete is happy to risk someone not paying.
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Hope your registered and approved by the FCA,even offering a credit agreement at O% APR is illegal without proper accreditation.
Firstly nice offer Pete. It’s not rocket scientist- 10% discount if pay in full or £400 up front and 10 x £100 after course. Your choice, £140 discount or full price with longer to pay.
Don’t start the rabble about if illegal blah blah blah. Sounds a bit like jealousy…
Keep up with the good work!
Bafferty:
Firstly nice offer Pete. It’s not rocket scientist- 10% discount if pay in full or £400 up front and 10 x £100 after course. Your choice, £140 discount or full price with longer to pay.Don’t start the rabble about if illegal blah blah blah. Sounds a bit like jealousy…
Keep up with the good work!
Enlighten me please as to what exactly I’m jealous about?!
The FCA is there to protect both the customer & provider.
I’m not answering on behalf of Pete as he doesn’t need me to. But you can see if someone is FCA registered here: register.fca.org.uk/
You can clearly see that Pete’s business is registered.
sammym:
I’m not answering on behalf of Pete as he doesn’t need me to. But you can see if someone is FCA registered here: register.fca.org.uk/You can clearly see that Pete’s business is registered.
Authorised to refer to a lender, not provide credit himself.
Forgive me for asking are you saying the course must be paid in full through the instalments before the training can start?
I thought the word “credit” made it quite clear that this isn’t the case
People have bad credit score for a reason?
Yes, that’s most perceptive of you. So are you suggesting that someone with a poor credit score is absolutely not trustworthy? Been there myself - many, many years ago - and it’s not good when no-one wants to help you when you need it most. I’m prepared to take the chance, at least for the time being. Times are hard out there for a lot of people and it wont hurt me to give a bit of a helping hand.
People who have a good credit score could get a 0% interest credit card deal (balance transfer) for anywhere up to 3 years (yes there is a fee but they vary). So it doesn’t really apply to those who can obtain credit elsewhere at preferable rates (as you’ve alluded to).
As this is being posted here it must be assumed people know about the 10% discount, so removing that from this offer means a person will be paying £140 more for a Cat C course, so it’s not really without a cost. It means that someone taking up this offer via this forum will pay £140 more because this offer is advertised here. As always, it seems those without money pay more in the long run… IF the offer was alongside the usual 10% discount then it would be truly without extra cost.
As a new member here and someone looking to do their HGV I can say (as I’m sure many can) that choosing a training provider is a bloody nightmare. No qualified instructors needed, no quality control needed over anything it seems. That said, I do applaud Pete and other providers who try to improve standards and accountability. Lastly, I’m not trying to have a pop at Pete here, I just have an issue with some of the things I’ve mentioned.
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Absolutely correct. I wouldn’t expect anyone to take this up if they can get a 0% credit card as they can then take advantage of the 10% discount.
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Yes, of course folks know of the 10% discount. But nowhere should the discounted rate be interpreted as “normal” rate. The normal rates are well publicised. What this move achieves is to give options. ie, you can still claim the 10% discount if paying within the normal time frame. BUT, if you prefer to spread the cost, that’s fine. And the cost remains the standard retail price. I have to add that offering interest free credit and 10% discount is just unworkable. I am obliged to show a profit at the end of the year. Truthfully not bothered if that’s a modest figure, but a profit all the same.
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Yes, choosing a trainer is a “bloody nightmare”. You should only book with a trainer having visited first and satisfying yourself with the standard of vehicles and facilities. You can only do this if you compare with an approved trainer. These are registered with either RTITB or NVDIR (lgvregister.org). The only exception is booking on rock solid recommendation. I rely on this to a great extent with the forum. Folk come from all over the UK and MUST have a good experience. The alternative is that we would be slaughtered all over the forum. It’s a big responsibility that doesn’t cause us any issues due to our standards.
Hope your registered and approved by the FCA,even offering a credit agreement at O% APR is illegal without proper accreditation.
I’m truly amazed that anyone could consider I’d be involved in an illegal practice. As pointed out, yes thanks, we’re registered. Without wishing to start a lengthy discussion, I’ll mention that we don’t actually need to be for these purposes. But that’s irrelevant.
Firstly nice offer Pete. It’s not rocket scientist- 10% discount if pay in full or £400 up front and 10 x £100 after course. Your choice, £140 discount or full price with longer to pay.
Don’t start the rabble about if illegal blah blah blah. Sounds a bit like jealousy…
Keep up with the good work!
Thank heaven that someone has got the right idea and are not on their own!! And yes, we’ll try to keep up the good work.
Hopefully that’s everything dealt with now. It really is a very straightforward offer which is out there in good faith. If I get my fingers badly burned, you’ll see it disappear! But I happen to believe that most folks are good, and that’s what keeps me going.
Pete
Just reading this thread and others recently I kinda feel a few here are jealous of PSTT or have some chip on their shoulder regarding them.
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As a business owner I wouldn’t go down this route, although most people are honourable you do get a few bad eggs as I’ve found out over the years.
I hope Peter does well with this and he doesn’t get fleeced but it only takes someone to fail their test and decides to stop the direct debit.
Just saying
Paul
elmet training:
As a business owner I wouldn’t go down this route, although most people are honourable you do get a few bad eggs as I’ve found out over the years.I hope Peter does well with this and he doesn’t get fleeced as it only takes someone to fail their test and decides to stop the direct debit.
Just saying
Paul
It does seem a bit of a financial risk but The chap has obviously done his sums and decided it’s a risk worth taking.
With larger businesses there are wages to be paid and other overheads that don’t Dissapear just because a truck is parked up.
As the old saying goes, ‘if the wheels ain’t turning, you ain’t earning’
Pete apologies for my earlier comments. I didn’t mean it to come across like that. And I think it’s commendable that you are putting your own money at risk to try and help others. I hope this works out for you and you can continue to give people a leg up.
Pete apologies for my earlier comments. I didn’t mean it to come across like that. And I think it’s commendable that you are putting your own money at risk to try and help others. I hope this works out for you and you can continue to give people a leg up.
No apology needed as your questions were fair and reasonable. Gives me a chance to explain. But thanks anyway.
Pete
To answer the query about the legality of the scheme, please read fca.org.uk/firms/authorisat … ent-credit
Pete