Buy now, Pay later... really?

OohSoHolly

I tried to do this to buy a Dell laptop.

I needed one in March to help me with my course but didnt recieve my next lot of money till May. So solution = Buy Now Pay Later. I would have had the money well in time to pay it all off before the interest started piling on.

But unfortunately due to being a student and having a low credit rating i couldnt do it - so something to look out for if you have a poor credit rating.

wezwee

CLAPTON wrote: »

I dont understand you

if you are saving £360 for 9 months at say 6% (I assume you have registered a R85) you will 'only' gain £16.20 in interest but it costs you 'only' £25... why give away £8.80 and assume the risk of forgetting to pay on time

Because that extra £10 means I dont have to wait untill I can get the computer.
After paying the 10% & £25 thats £335... after 9 months have passed and I pay off the computer I'll have technically payed £410 for a £400 computer.

Which I think is great, as I dont have £400 right now as I only work on Saturdays.
I'd rather much pay £410 next year to have something now, instead of waiting 9 months (well 2 actually) just to save the £10.
I'll ofcourse be completing the payments before 9 months are up, I mean i'll be sitting infront of the PC so I cant exactly say "I forgot I bought it" so I may have payed £413-ish overall. But that £13 can be seen as a time-machine delivery fee? :P

Which reminds me... I can complete payment anytime I want to within the 9 months cant I? As that would be the point in this type of deal?

Thanks

[Deleted User]

might be worth comparing the spec of the £400 pc with refurbished deals at dell outlet or currys online,starting at well below £300

Dajoruna

worth noting NONE of these deals are available if you are not currently employed. laughable in some cases where people are going to go into well paid jobs (ie students) but are yet to start work etc