Soldato
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yeah but instead of trying to lump it just do it in manageable chunks. I think of it as a cheap 12 month loan
Buy now Pay later - Opinions/Advice?
- Thread starter butterchurch
- Start date
Indeed, it makes good financial sense if you've got the money to keep hold of it and stick it in a bank account if the interest will cover the cost of the finance deal.
Personally I've never bought anything I didn't have the money for, with the only exception being my home.
Deleted member 66701
Deleted member 66701
I used bnpl for some of my current system but I know I've got a a savings policy maturing next September 15 days before I'm due to pay. So I've effectively borrowed against my savings and got what I wanted 12 months earlier.
as long as you know you can pay it off in time even with a few unforeseen bills/spending then its a good thing, but if it's cutting it close then it can be an easy way to get caught up in debt long term
see like that 750 over 36 months is quite a safe bet (especially as by that time you'll have had 2 minor pay rises and possibly the third big one at the end of your apprenticeship)
but 1000, over 12 could be a big risk if something comes up.
see like that 750 over 36 months is quite a safe bet (especially as by that time you'll have had 2 minor pay rises and possibly the third big one at the end of your apprenticeship)
but 1000, over 12 could be a big risk if something comes up.
problem with that is you cant always test them quickly and could find out a few months after purchase that its faulty.
Differing opinions here. If your new placement is paying well then it shouldn't take you long at all to save for a PC. They're not that much after all. If you have upcoming costs as you've said then perhaps it's not wise to buy one at all just yet?
I have friends who have gone the buy now pay later route and they both regret it. It opens the door to uncertainty which can bring stress and ultimately you end up paying more money.
For some things buying/paying later is unavoidable (house, car perhaps) but a gaming PC is absolutely not one of those things.
I have friends who have gone the buy now pay later route and they both regret it. It opens the door to uncertainty which can bring stress and ultimately you end up paying more money.
For some things buying/paying later is unavoidable (house, car perhaps) but a gaming PC is absolutely not one of those things.
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Tbh the OP sounds young and inexperienced, in which case i'd suggest saving for it instead. Don't start your adult life by buying things on credit when you don't need to, it will be the start of a bad habit that will hold you back down the line.
If i could have given my younger self one bit of advice it would be never get into debt unless completely necessary. I'd have gotten on the property ladder and had more disposable income much sooner if i didn't have to waste time paying back things that i didn't need bought on credit, overdrafts etc.
If i could have given my younger self one bit of advice it would be never get into debt unless completely necessary. I'd have gotten on the property ladder and had more disposable income much sooner if i didn't have to waste time paying back things that i didn't need bought on credit, overdrafts etc.
Soldato
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I've used these kind of deals a lot, but I usually pay them off early or by the last payment date.
If you can't afford it now, and probably can't afford it in the future, don't bother, but if you're definitely sure you will easily be able to pay off the balance then I don't see why not.
The idea that it's better to wait for something until you can pay it in full is nonsensical. If you're not a moron with money and can definitely pay it off, why wait?
^The argument that buying things you didn't need on credit was a waste of time is nothing like what the OP is suggesting he should do. This very forum exists because people are buying things they don't really need.
If you can't afford it now, and probably can't afford it in the future, don't bother, but if you're definitely sure you will easily be able to pay off the balance then I don't see why not.
The idea that it's better to wait for something until you can pay it in full is nonsensical. If you're not a moron with money and can definitely pay it off, why wait?
^The argument that buying things you didn't need on credit was a waste of time is nothing like what the OP is suggesting he should do. This very forum exists because people are buying things they don't really need.
Soldato
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- 29 Sep 2010
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A lot to think about, job security indeed being huge, added up with how much disposable income you have after bills.
Not only that think longer term, whilst you are forking out for a car and insurance, what if said car needs an expensive repair just before you need to pay the money back?
It's only a computer, sure you could survive temporarily
Not only that think longer term, whilst you are forking out for a car and insurance, what if said car needs an expensive repair just before you need to pay the money back?
It's only a computer, sure you could survive temporarily
Soldato
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Only worth it if you have enough saving to cover the debt in the first place.
This might sound counter intuitive but this way your savings covers the debt, while the interest free debt covers the feeling of having no savings.
Win/win.
So, first you must save... if you can do this in a couple of months (save a grand) then great.. but do do that first, then you can get something on buy now pay later and still have some savings, cappich?
This might sound counter intuitive but this way your savings covers the debt, while the interest free debt covers the feeling of having no savings.
Win/win.
So, first you must save... if you can do this in a couple of months (save a grand) then great.. but do do that first, then you can get something on buy now pay later and still have some savings, cappich?
