PcSpecialist Personal Finance

[Dstevens444]

Hi guys
Just wondering if anyone has used the buy now, pay later option and the experience you had. Can they change the agreement halfway through or is it difficult to pay it off early.
Thanks

 

[Grumpywurzel]

If memory serves, you get 12 months to pay it off interest free. They'll charge a fee for early payment tho. If it's not paid off then it's installments for four years.

 

[SpyderTracks]

To pay it off early, you just pay the regular payments for 12 months, and then you call them up and say I wanna settle the account and pay off the remaining balance. I believe the early repayment fee is around £35 so it's certainly not exorbitant.

It's a very good option, but you have to be quite firm with yourself and put money aside for the balance.

 

[Silenced]

To pay it off early, you just pay the regular payments for 12 months, and then you call them up and say I wanna settle the account and pay off the remaining balance. I believe the early repayment fee is around £35 so it's certainly not exorbitant.

It's a very good option, but you have to be quite firm with yourself and put money aside for the balance.

Even cheaper now.

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.

Source: https://www.pcspecialist.co.uk/finance-results/1000

 

[andjac]

Here is a bit of a post i made in another thread with an example value

I need a better PC

Hi Pcspecialist! I love Pc games, but I have got a 6 years old computer. I have tried some new programs, and the result was...disappointing. I would like to buy a new config. What is my goal? I wanna play with the new Doom, Read Dead Redemption 2 and my favourite one... Killing Floor 2. ( it...

www.pcspecialist.co.uk

Example purchase price is £1654
Base required deposit is 1% upfront, you can change this to suit you.
So this finance agreement is a 60 month contract. However, it has an initial 12 months of 0% interest, followed by a further 48 months where interest is charged.
Simply, you pay nothing for 12 months, then on the 12th/13th month a direct debit would come out for approx £53.28 every month for 48 months.

At any point during this 60 month period you can request a settlement figure and pay off the remaining balance minus any unused I interested. If you do this within the first 12 months then you pay no interest, only the £1654 - your initial deposit + £29.00 admin fee

If you were to not request the settlement figure and just pay the monthly instalments for the 60 months, the full value to pay would be £2,573.98. (Again based on an example)