Buy Now Pay Later Finance on Computer/Electricals Online

AJStevens

Hello all,

I've noticed all (of those offering it) of my favourite online retailers for computer equipment and electricals have all chosen to use V12Finance for their Finance options, e.g. Buy Now Pay Later (6/9/12 Months).

Back in 2007/2008 I used V12Finance while purchasing an HP server and parts from morecomputers.com and like many others got a letter from V12Finance during the Interest Free period telling me they were now going to apply a charge, well you can refer to an earlier thread on the forum, here it is: (I'm still too new a user to post a link so I've had to chop it up, just remove the spaces) http:// forums.moneysavingexpert.com /showthread.html?t=865381

corporaterat wrote: »

Hi i wonder if you can answer this querry i took out an interest free credit agreement with laptopsdirect.co.uk in september 2007 for a buy now pay in 9 months. but last month i got an email telling me
[FONT=Arial, Helvetica, sans-serif]"So, from 1st April 2008, we will have to introduce a charge for cheque and debit card payments received on any account and these will be charged at 1.6% of the payment being made. This will be added to your overall account on receipt of any cheque payment and will be included within any debit card payment at the time of processing."[/FONT]
[FONT=Arial, Helvetica, sans-serif]To cap it all i paid an aragemnet fee of £50 and now they want another 1.6%, i know this is not much but if you imagine all the people with similar agreements this will add up. is this legal??:mad: [/FONT]

Fortunately, after a lot of arguing, saying that can't add on THAT kind of fee during the term, I managed to get to someone who decided to let me pay it off and they'd waive the fee (maybe the got sick of people complaining about it).

Anyway, I'm thinking of once again embarkening on a spending spree involving a server and a bill of 4 figures, most likely starting with a 2, and as my numbers didn't come up Saturday, I'm going to need some finance, unless I wait and save for a year (hmm.. bit too impatient for that).

Only thinking mind you, and I'm put off seeing EVERY site using V12 (or aka Clode), has anyone else used them recently? Are they still applying this 1.6% charge? Do they still NOT take a Bank Transfer? I notice there' still no mention of this charge on the retailer's site, but have they at least bothered to include it in the agreement documents you read before signing, or is it still a nice surprise delivered later by letter or when you go to pay?

ShoesAreDamnExpensive

Hi AJ - Only just found your thread as this was exactly what I was just going to post on here to complain about. There is nothing in the small print about a final charge - it was only when I came to pay off the balance that they informed me that there was a 1.6% charge to pay by either cheque or debit card. And guess what - they don't offer any other ways to pay so there is no way of avoiding the charge.

Is this legal?!