Financial HELP PLS

[A L-pc]

It really is quite worrying about financial commitments people agree to without fully understanding the details.

Using the Hitachi finance is great if you expect to pay it off within 12 months, but works out very expensive just for the convenience when there are far better options around.

I was going with the finance originally until I realised the interest was a lot more than the loan. I finally went with using one credit card then transferring the required loan amount to another with a long interest free period. Cheaper than the admin fee Hitachi charge for early repayment.

Even banks have cheaper loan rates than Hitachi.

 

[SpyderTracks]

It really is quite worrying about financial commitments people agree to without fully understanding the details.

Using the Hitachi finance is great if you expect to pay it off within 12 months, but works out very expensive just for the convenience when there are far better options around.

I was going with the finance originally until I realised the interest was a lot more than the loan. I finally went with using one credit card then transferring the required loan amount to another with a long interest free period. Cheaper than the admin fee Hitachi charge for early repayment.

Even banks have cheaper loan rates than Hitachi.

The only time it’s worth taking out the finance agreement is if you’re paying it off within 12 months, then it’s a fantastic deal.

 

[AKREUZ]

No they don't, you can pay however much you like whenever you like. As many payments as you want within the first 12 months. The only extra charge is the £30 settlement fee for settling early.

After the 12months it will then go into a monthly direct debit

So if I have a PC that is £2700, I can pay partial amounts of that fee then whatever is left I can pay in the monthly payments After the 12months?

 

[TomBerry]

So if I have a PC that is £2700, I can pay partial amounts of that fee then whatever is left I can pay in the monthly payments After the 12months?

That's correct, so anything NOT paid off after the first 12 months would then go into monthly payments, however you will be charged the price with interest on top. If you pay it off within the 12 months you will pay the £2700 and no interest

 

[AKREUZ]

That's correct, so anything NOT paid off after the first 12 months would then go into monthly payments, however you will be charged the price with interest on top. If you pay it off within the 12 months you will pay the £2700 and no interest

Ahh perfect thank you. I mainly wanted to pay half off now then go into monthly payments with the remainder £1300+ left

 

[TomBerry]

Ahh perfect thank you. I mainly wanted to pay half off now then go into monthly payments with the remainder £1300+ left

That's completely fine to do so, but you may end up paying more than £1300 in monthly payments due to the interest so it's up to you if you'd like to go this route