Curry's Buy Now Pay 12 Months Later Advice

Roxy07

Hi,

Looking for advice for a friend

How much interest would they need to pay if they don't pay for the item in the agreed time?

Say it's £1000 how much would they need to pay back including interest?

sophieschoice

From their website
Buy Now, Pay Later
We offer to our customers the option to buy today and pay for their goods typically 6 months later. From time to time we may offer either 9 months or 12 months promotional periods which will be advertised in store when applicable. For customers taking out Buy Now Pay Later, a 10% deposit will be paid in store and then 6 months later the customer can choose to either pay the outstanding balance including a £25 settlement fee or pay over 36 months at 24.9% APR representative.

Representative example: Cash Price £500, 10% deposit of £50, credit amount £450. 6 months after purchase either settle the account by paying £475 (credit amount + £25 settlement fee) or start 36 monthly repayments of £19.32, total amount payable (including deposit) £745.52, 24.9% APR representative

YorkshireBoy

Roxy07 wrote: »

Say it's £1000 how much would they need to pay back including interest?

Twice as much as the £500 example given on their website...


http://www.currys.co.uk/gbuk/payment-options-1026-theme.html


Less if they pay it off within the 36 month agreement.

20aday

Roxy07 wrote: »

Hi,

Looking for advice for a friend

How much interest would they need to pay if they don't pay for the item in the agreed time?

Say it's £1000 how much would they need to pay back including interest?

My tuppence worth...

Have they considered a credit card with 0% for say, 16 months?

They could avoid paying interest on the full balance if they clear it before the end of the interest free period AND also gain from Section 75?

TherealMandM

20aday wrote: »

My tuppence worth...

Have they considered a credit card with 0% for say, 16 months?

They could avoid paying interest on the full balance if they clear it before the end of the interest free period AND also gain from Section 75?

section 75 is not limited to credit cards and he would have it from the in store finance anyway