Dixons Finance?

m0t

Just bought a TV using Dixons Finance as mine unexpectedly failed. Whilst I do have £728 for the model I wanted I noticed on their website that they were doing finance - deposit of 10% + 6monthly payments and pay the balance with no interest or continue paying the monthly payments.

My question is (having never used finance like this before), do they send me something at 6 months asking me to choose how I want to proceed or are they hoping that I will forget and automatically put me on monthly payments?

Obviously I want to pay it off at the end of 6 months (and something would have to go seriously wrong for me to be unable to) so does anyone have any idea how it works?

asandwhen

m0t wrote: »

Just bought a TV using Dixons Finance as mine unexpectedly failed. Whilst I do have £728 for the model I wanted I noticed on their website that they were doing finance - deposit of 10% + 6monthly payments and pay the balance with no interest or continue paying the monthly payments.

My question is (having never used finance like this before), do they send me something at 6 months asking me to choose how I want to proceed or are they hoping that I will forget and automatically put me on monthly payments?

Obviously I want to pay it off at the end of 6 months (and something would have to go seriously wrong for me to be unable to) so does anyone have any idea how it works?

They will not sen you anything as they are hoping you ont pay it off as this will enable them to charge you a very high rate of interest for the whole term (including the first 6 months).

It is worth it aslong as you can remember to pay off before the 6 months

CLAPTON

if your savings are making say 3% then by delaying the purchase you will make

728 less 10% = 655
at 3% = 19.66 per annum
so assuming to be on the safe side you pay in full after 5 and half months
the interest earned = 19.66 x 11/24 = £9

if the 3% is taxable then you make £7.2

this is a money saving site but quite a lot of hassle for a few bob


and yes of course they hope you will forget to pay and then you will get charged about 25% from the beginning of the deal.
They probably wont remind you the deal is ending and you'll probably have difficulty in find how much is required and where to send it.

poppy_f1

unless they have changed it, they dont send you anything its up to you to remember then contact them to arrange the payment

CHR15

This site is littered with posts where people have sent payment the day before and are now shouting that it didn't get there on time so the Credit Agreement has started.

Give it at LEAST a Month before the 6 Months are up. Pay up nice and early, and phone for confirmation.

Postal Strikes could simply be blamed on them not receiving payment if it drags on.

I would get shot now to so it's done and dusted,.

m0t

I received the credit agreements last friday, and signed the areas they had highlighted and returned their 2 copies and had hoped to be called today aranging for a delivery date. Instead I call them and they tell me the agreements have been returned for being incorrectly signed!

A closer read of the letter that came with them reveals the phrase 'please sign the 3 credit agreements in the 4 highlighted areas'.

Now all my credit agreements were exactly the same - 3 pages long, with 1 area on each that needed to be signed (bottom left corner) on the first page, the other 2 pages just contain information. I checked the agreements through several times and there were no other sections to be signed.

My worry is that the envelope they arrived in was damaged and something fell out/was stolen.

Can anyone tell me if the finance agreements they received were all the same (because my customer copy has only 1 signable area), or if there was a different one (which Dixons may have sent another copy of the first instead of the correct one) with an extra page?

Thanks for the help,

Anihilator

m0t wrote: »

I received the credit agreements last friday, and signed the areas they had highlighted and returned their 2 copies and had hoped to be called today aranging for a delivery date. Instead I call them and they tell me the agreements have been returned for being incorrectly signed!

A closer read of the letter that came with them reveals the phrase 'please sign the 3 credit agreements in the 4 highlighted areas'.

Now all my credit agreements were exactly the same - 3 pages long, with 1 area on each that needed to be signed (bottom left corner) on the first page, the other 2 pages just contain information. I checked the agreements through several times and there were no other sections to be signed.

My worry is that the envelope they arrived in was damaged and something fell out/was stolen.

Can anyone tell me if the finance agreements they received were all the same (because my customer copy has only 1 signable area), or if there was a different one (which Dixons may have sent another copy of the first instead of the correct one) with an extra page?

Thanks for the help,

I took out an agreement with Dixon's in May and there was definitly more than one area to sign.

Also on previous agreements the finance companies have always sent me a reminder about a month before.

m0t

Anihilator wrote: »

I took out an agreement with Dixon's in May and there was definitly more than one area to sign.

Thats a bit worrying, do you know if they were on the same page?

m0t

Right I finally got the agreement back to resign, here is what has happened:

I called them on tuesday and was told by the finance team that it had been returned because I had failed to sign the banks form, they confirmed that they should have sent me 3 (I had signed 3 and sent 2).

The forms turned up today and I saw another form with 2 places to sign at the back of all the other forms. I thought it odd that I missed it, so I looked over all the forms again. In the post today I received a store form, a customer form and a bank form. The store and customer forms were highlighted and I had previously signed them and sent them back, I also have a customer form that I had kept at home. The highlighted store and customer forms were stapled together, the other customer form was loose in the envelope when thay arrived last week.

The higlighted store and customer forms have been stapled twice and the bank one at the back has been stapled once. The conclusion? Dixons sent me two customer forms originally by mistake and have not admitted that fact to me, instead preferring to blame me.

m0t

Just checked the Dixons website and it says that finance applications must be received in 7 working days. Based on there being a postal strike I don't imagine they will get it back before tuesday, by which point it will have been 10 working days since I ordered the telly.

Will they cancel the order?