I am buying a pc for my brother but im paying monthly so im not sure if you just pay the monthly payment for 12 months like no charge please and thank | PCSPECIALIST

I am buying a pc for my brother but im paying monthly so im not sure if you just pay the monthly payment for 12 months like no charge please and thank

June1

Active member
I am buying a pc for my brother but im paying monthly so im not sure if you just pay the monthly payment for 12 months like no charge please and thank you for your time
 

polycrac

Bright Spark
I think the finance is over Four years, but if you pay it off in one year, you pay a fixed fee of £29 instead of the interest (which is a good deal, if you can manage it, as the interest is 16.9% apr)
 

June1

Active member
Okay thank you so say I pay the 12 months monthly then it doesn't come up to the price it's meant to be, do I have to pay the rest off and £29 fee and if I do get approved do I just pay monthly like say 18.56 a month for 12 months?
 

Rakk

Moderator
Moderator
Okay thank you so say I pay the 12 months monthly then it doesn't come up to the price it's meant to be, do I have to pay the rest off and £29 fee
Yes, the amount per month is set so that it would be paid off in 4 years, so to pay it off in full you would indeed have to pay the remaining balance (and the £29) off before the 12 months were up to avoid the interest charges.
If you go to this page: https://www.pcspecialist.co.uk/finance/ you can put in your amount and it will show you the details. But do make sure you understand how it works before you agree to the finance agreement.
 

June1

Active member
So after the 12 months do you have to pay the total amount payable or the price it is meant to be
 

June1

Active member
So the 48 installments do you times it by the money you pay monthly to get to the end of the 12 months like for example 48 x 20.29 a month= 973.92 is that for 12 months and the full amount is 980.22 so if I pay the 6 pound something and the 29 entery fee is it mine to keep?
 

Rakk

Moderator
Moderator
If you went to the page I linked and put in the amount of your PC it does show all the details and explains how much you have to pay.
But in essence if you were getting a PC that cost £1000 and were paying it off before 12 months has passed, then what you would have to pay off would be £1000 - (your deposit) - (whatever monthly payments you had paid at the time you were paying it off) + £29.
Note, this is how I can explain it, I am not a financial advisor or an employee of PCS, and I will say 'make sure you know exactly what you';re signing up for' before doing so.
 

Oussebon

Moderator
Moderator
PCS's Finance package changes a little from time to time. The current arrangements - using a £1000 PC spec as an example - appear to be these:

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 begin making repayments 12 months after the dispatch date.

As part of the package you have the option to settle the remaining balance in full at any point during the first 12 months without paying any interest - you will only need to pay off the remaining balance plus a £29 early settlement fee.

If you have not settled the remaining balance during the first 12 months, monthly repayments will commence for 4 years and the total balance payable will include interest.
In simple terms - the Buy Now Pay Later finance option allows you to purchase a computer now, and providing the remaining balance is paid within 12 months, the only charge for finance will be a £29.00 early settlement fee!

So you pay the deposit e.g. £10. You then need to pay off the £990 remaining, plus the £29 fee, within 12 months. And then you're done. So that's a total of £1029 paid for your £1000 gaming PC.

If you don't pay it off, then you're dealing with the monthly payments, which include interest, and appear to span 4 years. Paying for the PC on those terms (with a £10 deposit) would mean you'd end up paying 48 x £32.21 monthly payments.

Which is £1,546.08 for a £1000 gaming PC.

As above, take some independent advice about finances if you are at all unsure.
 

polycrac

Bright Spark
PCS's Finance package changes a little from time to time. The current arrangements - using a £1000 PC spec as an example - appear to be these:






So you pay the deposit e.g. £10. You then need to pay off the £990 remaining, plus the £29 fee, within 12 months. And then you're done. So that's a total of £1029 paid for your £1000 gaming PC.

If you don't pay it off, then you're dealing with the monthly payments, which include interest, and appear to span 4 years. Paying for the PC on those terms (with a £10 deposit) would mean you'd end up paying 48 x £32.21 monthly payments.

Which is £1,546.08 for a £1000 gaming PC.

As above, take some independent advice about finances if you are at all unsure.

Sorry for telling you four years, in my defense, It is confusing - on the same page, if you enter an amount, it talks of '48 installments, which seem to be the total amount - a hangover from when it was four years, perhaps? Either way, when it is this confusing, I'd call them to clarify!
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Attachments

June1

Active member
If I get aprroved by hiatachi or whatever n I get a contract can I sign it online because I don't have a printer
 

Rakk

Moderator
Moderator
If I get aprroved by hiatachi or whatever n I get a contract can I sign it online because I don't have a printer
I believe quite a few can go through the whole finance process without having to go near a single piece of actual paper, however some have been required to do further checks and it's possible they will require you to actually sign something - but I just do not know, and this will be entirely based on personal circumstances and none of us on here can tell you if that would be the case for you or not.
I presume though that Hitachi probably have a quite a few people who don't have printers so will have some way of dealing with it.

Also note that if you are doing the finance agreement it will be you that is entirely liable for paying it off, not your brother (even if he is the one with the PC)
 

June1

Active member
So when I deposit the money and get approved financially have I got the pc on delivery to come to my house or do I have to wait a month for it
 

June1

Active member
So when I put the deposit down which is £6.44 and I get approved do is it get built and then shipped to my address and also does the monthly payment start the next month it has been approved?
 

SpyderTracks

Huntsman
Moderator
So when I put the deposit down which is £6.44 and I get approved do is it get built and then shipped to my address and also does the monthly payment start the next month it has been approved?
You will get all the payment terms before you sign which will have the schedule within it.

But yes, it will be queued for building tomorrow if you order today, and then once built it's shipped for next day delivery if you're UK mainland.
 
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