Quick Finance question.

[Tysuro]

Hey just a quick question concerning finance. I just wanted to know if I was to buy a PC on finance for lets say 6 months and the PC costs around £2000 howmuch interested would the finance departmen throw ontop of it? cause I read it's like £1800 interest and if its that it's abit silly.. can someone clear this up for me please and explain.

 

[neewhom]

Read the interest rates displayed on financing info, that's the percentage of owed balance added per month. Unless it states otherwise

 

[PCS]

See here: http://www.pcspecialist.co.uk/finance/

This the is BNPL 6 month finance option:

Finance Option:
Buy Now Pay Later (6 Months / 54)
Price:
£2000
Deposit:
£200.00
Balance Before Charges:
£1800.00
Typical APR:
26.9%APR Typical
Deferred Period:
6 months (If you pay off the remaining balance of £1800.00 during this period no interest will charged.)
Arrangement Fee:
One off fee of £36.00.
Monthly Installments:
£64.87 per month.
Payable Over:
48 months.
Total Charge For Credit:
£1349.76
Balance Payable:
£3113.76
Total Amount Payable (Inc. Deposit):
£3349.76

 

[Rakk]

Hey just a quick question concerning finance. I just wanted to know if I was to buy a PC on finance for lets say 6 months and the PC costs around £2000 howmuch interested would the finance departmen throw ontop of it? cause I read it's like £1800 interest and if its that it's abit silly.. can someone clear this up for me please and explain.

Most of the 'Buy Now Pay Later' deals like this have some hideous interest rate if you don't pay it off in the free period, thats how these things make money.

 

[Gorman]

http://www.pcspecialist.co.uk/finance

 

[Meds]

The moral of this story is to pay off the finance within the agreed period as no interest will be charged

Go over the agreed period, then be prepared to pay the finance company some serious interest

 

[Tysuro]

The moral of this story is to pay off the finance within the agreed period as no interest will be charged

Go over the agreed period, then be prepared to pay the finance company some serious interest

Lol!! you just put me off ever getting anything on finance Meds .

 

[BIGZIPZ]

The TRUE moral is, don't buy things unless you can afford to pay them in full now. If you cannot, save up, until you can!