Buy now pay August 2011
- Thread starter PC_Gamer
- Start date
HMFC_Riley
Enthusiast
From what I remember when I was looking into it if you get accepted you get your PC on credit plus a small fee for the financing. If you pay it all back by whatever date you agree to then you're sorted (6, 9 and 12 months I believe). If not then you'd go onto paying interest on the remaining balance over a number of months (again depending on the finance package you took).
Hope this helps
Hope this helps
If you visit here: http://www.pcspecialist.co.uk/calculate-finance/ and enter a price, you can get the full details of our finance options which will explain everything you should need to know. Based on a test system of £618, please see below:
Buy Now Pay Later (12 Months / 60)
The 12 months "Buy Now Pay Later" Finance Option is a 60 month (5 year) finance package which will allow you to purchase a computer system now and pay later. Provided you pay the final balance before the 12 month Buy Now Pay Later period expires, you will pay no further charges or interest! Should you wish to pay off the balance over the 4 year remaining period (or fail to pay off the total amount of the order during the first twelve months), you will be charged interest. The Typical Annual Percentage Rate (APR) is fixed at 26.9% and would be payable monthly. The deposit for this finance option is 10% of the total amount (payable only by credit/debit card) on one of our systems, and for example on the system that you have just configured, the deposit would be £61.80. On this finance option there will be a £55.00 service charge applied by the finance company.
Finance Option:
Buy Now Pay Later (12 Months / 60)
Price:
£618.00
Deposit:
£61.80
Balance Before Charges:
£556.20
Typical APR:
26.9%APR Typical
Deferred Period:
12 months (If you pay off the remaining balance of £556.20 during this period no interest will charged.)
Arrangement Fee:
One off fee of £55.00.
Monthly Installments:
£22.58 per month.
Payable Over:
48 months.
Total Charge For Credit:
£582.64
Balance Payable:
£1083.84
Total Amount Payable (Inc. Deposit):
£1200.64
Buy Now Pay Later (12 Months / 60)
The 12 months "Buy Now Pay Later" Finance Option is a 60 month (5 year) finance package which will allow you to purchase a computer system now and pay later. Provided you pay the final balance before the 12 month Buy Now Pay Later period expires, you will pay no further charges or interest! Should you wish to pay off the balance over the 4 year remaining period (or fail to pay off the total amount of the order during the first twelve months), you will be charged interest. The Typical Annual Percentage Rate (APR) is fixed at 26.9% and would be payable monthly. The deposit for this finance option is 10% of the total amount (payable only by credit/debit card) on one of our systems, and for example on the system that you have just configured, the deposit would be £61.80. On this finance option there will be a £55.00 service charge applied by the finance company.
Finance Option:
Buy Now Pay Later (12 Months / 60)
Price:
£618.00
Deposit:
£61.80
Balance Before Charges:
£556.20
Typical APR:
26.9%APR Typical
Deferred Period:
12 months (If you pay off the remaining balance of £556.20 during this period no interest will charged.)
Arrangement Fee:
One off fee of £55.00.
Monthly Installments:
£22.58 per month.
Payable Over:
48 months.
Total Charge For Credit:
£582.64
Balance Payable:
£1083.84
Total Amount Payable (Inc. Deposit):
£1200.64
The price used in the example includes VAT.
We only have 36 month & 48 month classic credit - where you pay a fixed amount every month for 3/4 years.
We also have 6, 9, 12 month buy now, pay later - you pay a deposit + arrangement fee then pay the remainder off before the agreed time-scale. I think is the sort of thing you are looking at.
We only have 36 month & 48 month classic credit - where you pay a fixed amount every month for 3/4 years.
We also have 6, 9, 12 month buy now, pay later - you pay a deposit + arrangement fee then pay the remainder off before the agreed time-scale. I think is the sort of thing you are looking at.
If you take the Buy Now pay Later Package, then you can save up x amount each month, then call them to settle the balance before the 12 month period is up. You can pay off in early 2012 because that would be 16+ months, and the maximum package we allow is 12 months.