With technology becoming more efficient, widespread and reasonable than ever, laptop prices are going downhill. Even so, a high-specification model can cost anything between £400-£600 – which isn’t cheap! Buy Now Pay Later schemes allow you to reduce the financial burden of your purchases by paying in weekly or monthly installments over a set period. This flexible payment method empowers you to beat bad credit and buy laptops that were previously unaffordable. Therefore several laptop brands and retailers have come to your aid with ‘buy now pay later’ schemes, so you have to spend only a smidgen of every paycheck on your favorite gizmo!
How Buy Now Pay Later Works for Laptops
Different catalogues have different terms under their ‘buy now pay later’ plans. At Littlewoods, for example, the code 27ZG5 will allow to buy any product over £50 and pay up to 12 months. 12 months is an interest-free buy now pay later period, with no minimum monthly payments. You can also buy now and pay over 20 weeks on any purchase. Very and K&Co have similar buy now, pay later options on laptops. Therefore, a £449 costing Acer E1 could be yours for less than £40 a month!
If you wish to spread your costs further, buy now pay later plans can be extended up to 2 or 3 years, which are then charged interest. This makes your weekly/monthly payments almost infinitesimal! An Asus from Littlewoods could be yours for just £3 a week under these schemes.
Buy Now Pay Later vs Paying Full Price for Laptops
Confused whether you should open a credit account or pay for your laptop right away? Terrified that some hidden clause in your credit agreement will cost you your arm and leg? Is the long payment period triggering your commitment phobia? You may want to contemplate some of the advantages ‘buy now pay later’ has over paying full price at checkout.
By paying only small amounts every week or month, you maintain liquidity for other bills or unexpected expenses. This is a wiser alternative to tying up a lump sum of money in a relatively illiquid consumer product like a laptop. Further, a credit account with a leading retailer like Perfect Home is an excellent way to show a reliable credit history. Getting approval for a credit shopping account is a lot easier than getting a credit card or mobile phone contract. It can thus be a stepping-stone to more credit in the future.
With the increasing popularity of buy now pay later, all major catalogues have carefully elucidated their finance options on their websites and have dedicated sales teams to answer customer queries about ‘buy now pay later.’ This will help alleviate all your worries before you sign any credit agreement. Additionally, interest-free buy now pay later schemes don’t require you to pay a penny more than the cash price if you pay it back within the interest-free period. In short, you can’t lose with buy now and pay later, so start shopping now!