yet another finance question

C

craigtrish2005

Member
hey all, havent been here for a while now but have a question about finance.

Right now im on the page with my card details entered/finance break down and just about ready to click submit.

But im confused about a few things, mostly this

"Early Settlement Example 1 - Settle after 3 monthly repayments:

Cash price £677.00, deposit of £67.70, total amount of credit £609.30, pay £20.70 per month for 3 months, settle £576.20 (£609.30 + £29.00 - 3 lots of £20.70), total amount payable £706.00.


Is the £20.70 a month manditory? or is this purely for the sake of showing an example of someone who might CHOOSE to pay monthly?
Also, once i click submit is that it? the deposit comes out and im in business? Or is there still credit checks etc to do?

Thank you for any help, and sorry about the long question :S
 
JMOB

JMOB

Bronze Level Poster
We now have a one product fits all Finance Option, provided by Hitachi Capital.

The 10% deposit and set monthly repayments ARE mandatory, the interest rate and term of loan is set at the start. BUT if you wish, you can settle the finance within one year and pay the cost price, plus £29.00 early settlement fee, less the monthly payments already paid.

There is no variation to this, and the examples are shown to explain what could happen.

Remember, the early repayment option with no interest only applies within the first twelve months.
 
JMOB

JMOB

Bronze Level Poster
Unfortunately, there is always a credit check! :(

Quite often Hitachi will also need Proof of Employment. This is often requested after the application has been accepted and can be either before or after the signed Agreement has been received by Hitachi.

If at this or any other stage a customer decides against proceeding with the finance deal, please let us know. By this time the application has been accepted and the deposit has been collected. We will need to cancel the application at our end, so that we can refund your deposit.

Good Luck! :)
 
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