Tuesday 6 December 2016

Here's how much you can save right now if you splurge in sterling

Sterling collapse

Published 19/10/2016 | 12:47

Phil Schiller, Apple's senior vice president of worldwide marketing, talks about the features on the new iPhone 7 during an event to announce new products in San Francisco. (AP Photo/Marcio Jose Sanchez)
Phil Schiller, Apple's senior vice president of worldwide marketing, talks about the features on the new iPhone 7 during an event to announce new products in San Francisco. (AP Photo/Marcio Jose Sanchez)

The sterling’s collapse is causing havoc for Irish exporters, but it also means that consumers could save a lot by buying goods priced in pounds.

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The euro is close to 30pc more valuable against the sterling than it was last November and, although customers are questioning how prices in Euro have not dropped as a result, shopping in pounds could give people huge discounts.

Customers will save almost €30 per £100 since this time last year. Today, one euro will buy you 89p; last year you would only have received 70p in exchange. So where and how can you make big savings by doing your Christmas shopping in pounds?

Apple products

Sure to be in a good few stockings this December, the brand-new iPhone 7 with 4.7-inch display is €779 on the Irish Apple website and £599 on the UK site; that’s €671, or a saving of over €100.

SAVING: Over €100

The MacBook Air, a popular choice for laptop users because of its speed and ease to carry, is €1,029 on the Irish website and £749 on the UK site. That’s a saving of €190.

SAVING: €190

And for techies who need extra processing power and graphics capabilities, the saving on the MacBook Pro is even bigger; at €1,499 on the Irish site and £999 in the UK, customers could save €379 if they choose to splash out on the Pro.

SAVING: €379

Furniture and homeware

If you’re redecorating before Christmas, it might be worth a trip up to the Belfast IKEA store. The Norsborg corner sofa will set you back €1,120 in Ireland and £900 in the UK; that’s €1,008, or a saving of €112.

SAVING: €112

And if you’re not a fan of pine needles, you could make a saving on your Christmas tree too: IKEA’s large fake Christmas tree is €95 in Ireland and £75 in the UK, which would save you €11.

SAVING: €11

Alcohol

We’ll all be stocking up on wine for those pre-Christmas visits and office parties, and a trip across the border could save you a lot if you’re buying in bulk.

A bottle of Casillero del Diablo Pinot Grigio from Chile costs €12 in Ireland and £8 in the UK, or €8.96. That’s a saving of more than €3. And to top that off, this wine is on sale in the UK Tesco at £6.50, so your saving goes up to a fiver if you drive up tonight.

SAVING: €3

And if a hot whiskey is more your taste, 70cl of Jameson is going for €24 in the Irish Tesco and £18 in the UK. That saves you almost €4 per bottle.

SAVING: €4

Cars

Savings on cars can end up much lower than other products due to the Vehicle Registration Tax (VRT), which is based on emissions and has to be paid on all imported cars.

A new 162 BMW 316d saloon will cost you €39,410, on the manufacturer's Irish website, and £27,620 on the UK site. This translates to €30,930, or a saving of almost €8,000.

SAVING: €8,000

The all-important VRT rate on the vehicle is 17pc, or €5,258 – which still leaves you a substantial saving. However, the saving is marginalised by VAT.

While you can claim back the UK VAT on the car, the Irish VAT reduces the discount to just over €1,000, because the Irish VAT must be paid on the car’s total value before the UK VAT can be claimed back.

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