Pay By Finance

[dean89]

This is a screenshot I have from my contract with Hitachi Finance, which is the buy now pay later scheme

Sorry if it’s small, it’s a screenshot off my phone.

nice, so that’s leading me to believe you make monthly payments up to the 12months, cheers pal but I’ll wait for clarification from PCs just to be 100%

 

[keynes]

Afraid I don’t remember. I just remember the admin fee on top of the balance and calling one week before the end of the agreement to clear the balance. Wouldn’t it be better to just use whatever you planning to pay monthly on a savings account/ISA/investment? Won’t make much of a difference with current rates of interest though

 

[dean89]

Afraid I don’t remember. I just remember the admin fee on top of the balance and calling one week before the end of the agreement to clear the balance. Wouldn’t it be better to just use whatever you planning to pay monthly on a savings account/ISA/investment? Won’t make much of a difference with current rates of interest though

But that’s being sensible lol!

 

[ASHENTI]

I financed my build through Hitachi. I paid a deposit which was deducted from the total finance. I don't start making any payments until the 12 months are up then it is 48 monthly payments. However I fully intend to have it cleared within the interest free period. Hope this helps.

 

[dean89]

I financed my build through Hitachi. I paid a deposit which was deducted from the total finance. I don't start making any payments until the 12 months are up then it is 48 monthly payments. However I fully intend to have it cleared within the interest free period. Hope this helps.

Yes that’s the idea, but I’m not 100% if you can make monthly random payments or if you can only pay the whole sum.

 

[ASHENTI]

I believe if you log into your finance agreement there is a "make a payment" option so in theory you could make payments for any amount at any time. That is my experience with Hitachi. Hope this helps.

 

[SpyderTracks]

I believe if you log into your finance agreement there is a "make a payment" option so in theory you could make payments for any amount at any time. That is my experience with Hitachi. Hope this helps.

Yes, this is exactly what I thought too, you can make any payment at any time over the web.

 

[dean89]

So for example, my total for PC is £1400, will I be only paying this back over the first 12 months before the interest kicks in over the 48 months? Sorry I’ve not ever done finance before lol

 

[SpyderTracks]

So for example, my total for PC is £1400, will I be only paying this back over the first 12 months before the interest kicks in over the 48 months? Sorry I’ve not ever done finance before lol

So you won’t be billed at all during the first 12 months. But you can make any voluntary payments you like during that time and if you settle the balance by the end of the 12th month then you’ll incur no interest.

 

[dean89]

So you won’t be billed at all during the first 12 months. But you can make any voluntary payments you like during that time and if you settle the balance by the end of the 12th month then you’ll incur no interest.

Yer so my PC is around £1400, but the scary total with the interest is around £2100 lol, long as I pay it off over the 12 months I’ll only be paying back £1400 👍🏻

 

[SpyderTracks]

Yer so my PC is around £1400, but the scary total with the interest is around £2100 lol, long as I pay it off over the 12 months I’ll only be paying back £1400 👍🏻

Yes, plus £30 quid admin fee, it’s a very good deal.

 

[dean89]

I’m sold. Orders been put through 😁

 

[Imad daili]

Hello. If I pay full price for a pc will there be any interest rates or will it be interest free.

 

[Rakk]

Hello. If I pay full price for a pc will there be any interest rates or will it be interest free.

IF you use the finance option and do not pay it all off in the first year there will be interest to pay (if you do pay it off in the first year I believe there is an admin/early repayment charge)
If you just mean buy it outright at the beginning (using credit card/debit card/bank transfer) you will not need the finance option and so there will be no interest.

 

[Leandro]

I financed my build through Hitachi. I paid a deposit which was deducted from the total finance. I don't start making any payments until the 12 months are up then it is 48 monthly payments. However I fully intend to have it cleared within the interest free period. Hope this helps.

How can I select the pay by installments opinion?

 

[SpyderTracks]

How can I select the pay by installments opinion?

When you go through to payment you just select the finance option:

 

[Leandro]

Thanks

 

[Leandro]

When you go through to payment you just select the finance option:

View attachment 17841

When I select the option “bank transfer “to pay by installments it only says to do a bank transfer? Any help

 

[ASHENTI]

I'm not sure what you mean. Pay by Finance you apply for X Amount, a Credit Search is done. If approved Hitachi send you a credit agreement to E-sign, the order then goes to PCS for building.

When your Finance agreement goes live (when you take delivery of goods) you can log onto your Hitachi account and pay as often as little as you like, as long as it is paid before 12 months it is interest free.

Example, you take finance for £1000, you can make 10 monthly instalments of £100, and you are clear (£30 admin fee for clearing early, worth it) or you can make two instalments of £500 etc etc.

That is how my Finance agreement worked.

 

[SpyderTracks]

When I select the option “bank transfer “to pay by installments it only says to do a bank transfer? Any help

Bank transfer means paying the full amount via transfer from your account.

You need to select personal finance if you want to pay by finance.