Finance Option

[Powka]

Hey!

Has anyone used it? What are the cons of the option? And how hard is it to be approved? Any certain amount that is needed tu be earned per annum to be approve or something?

Thanks!

 

[keynes]

Info on finance is here:
http://www.pcspecialist.co.uk/finance/

I used it but after being approved didn't take it (change my mind on a laptop), how hard is to be approved? it depends on your financial circunstances and credit rating/history. One of the requirements is for you to be in permanent employment, don't remember there is a minimum but I assume it should depend on how much you wish to borrow. Pros? spread the payment Cons? Interest but you don't need to pay any if you pay off everything within 12 months only an administrative charge of £29.

 

[Powka]

So not really any cons as I see it, really useful thing, as I'm looking to repay within 3 months.

Hm, okay... that's what I'm wondering though, the exact dates of employement and income, and how do you prove it... I mean everything apart from what is provided on the Finance page here on PCSpecialist.

Thanks!

 

[keynes]

So not really any cons as I see it, really useful thing, as I'm looking to repay within 3 months.

Hm, okay... that's what I'm wondering though, the exact dates of employement and income, and how do you prove it...

Thanks!

They didn't ask me for any proof, I just stated the starting date of my latest employment and my current income. When I completed my application they just requested me to sign it online.

 

[Ash]

It also depends on the current financial status of the people you live with. My parents are in debt but I am not and I have had a permanent job for over 3 years and I was rejected.

 

[HelBic]

I looked at the finance option but realised that it was going to be something over £150 a month to clear it in the first 12 months. My system is costing me over £1,700 so I came up with another idea.... I took out a new credit card with balaqnce transfers at 0% for the first 20 months. I bought the system on a different card and then did a balance transfer which has a fixed fee of 3.5%.

Now I'm not so pushed to pay it back as I have 20 months to do it in.

Just a thought!

 

[keynes]

I looked at the finance option but realised that it was going to be something over £150 a month to clear it in the first 12 months. My system is costing me over £1,700 so I came up with another idea.... I took out a new credit card with balaqnce transfers at 0% for the first 20 months. I bought the system on a different card and then did a balance transfer which has a fixed fee of 3.5%.

Now I'm not so pushed to pay it back as I have 20 months to do it in.

Just a thought!

I did something similar but with 0% on purchases to avoid the balance transfer charge but only used it for half the total cost since there is a 2% surcharge for paying with credit cards.

 

[HelBic]

I looked at that but the offer was for 0% on purchases for only 3 months... which was waaaaaaaaaaaaaaaay worse than the 3.5% balance transfer.

 

[keynes]

I looked at that but the offer was for 0% on purchases for only 3 months... which was waaaaaaaaaaaaaaaay worse than the 3.5% balance transfer.

Good call , I am so happy Barclays is getting fined. Those charges on balance transfers are excessive as well as penalties on missing payments. I am hoping the FSA is stricter this time and makes the banking industry more competitive.

 

[HelBic]

Too true - I'm not one that is into karma or anything like that, but (as stated elsewhere on the forum) I decided I'd look at buying a laptop after I buoght Skyrim for £25 for the pc as I can't get on my ps3 in the evenings as it's attached to the main telly and my missus DOES like her eastenders and Holby and so on. It (predictably) ran like a dog so I decided to bite the bullet. While I was drooling over the alienware spec (and laughing at the £2.5K+ price point) I searched on Google for spec your own pc/laptop and found PCS.

At the same time, I got a letter from the Building Society I used to finance my car loan offering me their credit card with 0% for 20 months on balance transfer and used this as a means of persuading myself that 'someone' wanted me to have the Vortex III.

Now all I need is the delivery - the unboxing will be photographed and so on - can't wait!

And oh yeah, the £1,700+ price tag for the Vortex I specced up does still seem a little excessive to run the £25 game I bought... ah well, C'est la vie!