Question(s) regarding finance.

[exhumedye]

Didn't know where else to put this so sorry if it's the wrong area!


Basically, it's looking like my PC is going to die soon and I'm looking to get a new one. However, I'm unable to afford what I need outright, so I'm going to look at financing instead(buy now pay in 12months).

The first question I want to ask is, if I am unemployed, do I still qualify for the finance option? I'm on ESA due to illness and it's for the long term unless I can find work on the internet or from home(which I am actively looking for!).

The second question is, it says that if I pay it off before the 12months is up, there won't be any interest on the payment(s). How would I go about doing this? Would it be through overclockers or through the finance company?

Thanks in advance for the replies.

 

[TALON1973]

in regards getting credit ...depends on teh finance company involved tbh and what credit checks they do .

example i work , but low paid i tried to get a sony vivaz on contract through vodofone but got refused....same deal through t-mobile i passed . i do have a few failers from the past so that works against me sometimes.

i know you can get credit when not working....buyt in this day an d ages with climate as it is .........dunno. and another thing you should know , when you apply for credit it goes on your record ... and fai;ure mounts up

 

[exhumedye]

in regards getting credit ...depends on teh finance company involved tbh and what credit checks they do .

example i work , but low paid i tried to get a sony vivaz on contract through vodofone but got refused....same deal through t-mobile i passed . i do have a few failers from the past so that works against me sometimes.

i know you can get credit when not working....buyt in this day an d ages with climate as it is .........dunno. and another thing you should know , when you apply for credit it goes on your record ... and fai;ure mounts up

Thanks for the reply, I've not been refused anything that I've applied for so far, such as my Samsung Galaxy S with O2. It's my first phone contract and it's the only contract regarding payments to a company I've had. I'm up to date with bills and stuff, so I'm assuming that will go in my favour?

Another thing... With regards to the finance, do I have to pay the deposit there and then, or can I set a date for it to be paid and that will be the beginning of my contract payments?

 

[alex2k10]

First off how old are you?

Also when you say about your phone is that the only credit you have ever taken out?

As the credit file works both ways if you take credit out but regually pay and dont miss payments it will improve your score.

Also the fact your on ESA will effect if you get accepted or not.

The deposit will have to be paid straight away in most cases.

 

[FidelZastro]

Dunno if you will be granted finance, but the deposit will be taken from your account immediately and refunded a few days later if your application is not successful.

Personally, I would never spend money I don't have on things I don't need. If your PC is gonna die, get a cheap replacement you can afford now.

 

[Tealc]

Personally, I would never spend money I don't have on things I don't need. If your PC is gonna die, get a cheap replacement you can afford now.

Avoid credit if you can. You may find it bites you bad if you have a limited income. We spent years clearing debts that we ran up in our twenties thinking we could have afford payments when we really couldn't. One of those purchases was a PC which although only £500 eventually cost twice that when paid over several years.

Buy second hand if you must.

 

[exhumedye]

First off how old are you?

Also when you say about your phone is that the only credit you have ever taken out?

As the credit file works both ways if you take credit out but regually pay and dont miss payments it will improve your score.

Also the fact your on ESA will effect if you get accepted or not.

The deposit will have to be paid straight away in most cases.

I'm 22 and yes, my phone is the only thing I've ever taken out on credit. I only missed payments when I had to leave work due to my health conditions, but they were resolved very quickly and they were very understanding of my situation(I had to wait for my ESA to be processed).

Dunno if you will be granted finance, but the deposit will be taken from your account immediately and refunded a few days later if your application is not successful.

Personally, I would never spend money I don't have on things I don't need. If your PC is gonna die, get a cheap replacement you can afford now.

I don't intend to spend money I do not have, the idea is, I've worked it out that if I pay 10% of the amount each month(which I will have to make sure is affordable for me), I can pay it off in 10 months. I also have family or friends who can cover for me if I can not make a payment due to unforeseen circumstances.
With the amount of money I am currently bringing in, a cheap replacement isn't really an option for me.

Avoid credit if you can. You may find it bites you bad if you have a limited income. We spent years clearing debts that we ran up in our twenties thinking we could have afford payments when we really couldn't. One of those purchases was a PC which although only £500 eventually cost twice that when paid over several years.

Buy second hand if you must.

The problem is, due to my illness, I'm currently restricted on what I can and can't do. At this moment in time, I am socially awkward and I find it stressful being around people, which can sometimes lead to violent outbursts. This means I spend the majority of my time indoors and the friends I do have are exceptionally understanding and have been fantastic support. So with these problems, the only thing which is keeping me sane is my PC. With out my PC, I would have probably resorted to crying myself to sleep and spending my "awake time" eating my own faeces, basically I would go insane. Lol.