Has anyone used Buy Now, Pay Later Deals? Watch

The Procrastinator
Badges: 3
Rep:
?
#1
Report Thread starter 7 years ago
#1
Ello,

I'm looking to buy a digital piano sometime but I've come across the Buy now, pay later and "Take it Away" deals.

The first is you take your item home and pay the full amount in 12 months or if not you start paying for 48 months with lots of interest. I'd pay it all in the 12 months.

Or the Take it Away deal is you pay a deposit of - eg, £200 then pay £200 for 9 months interest free. The interest is paid by the Arts Council England scheme.

Has anyone used these before?? I'm saving already but it would be nice to have it now and continue saving as planned. Is there any catches to these? Seems to good to be true :rolleyes: Plus I bet my parents will try to put me off it.

From what I gather you are just paying the amount for the instrument and nothing more. No interest or anything.

Would appreciate advice

Check the links out -
http://www.takeitaway.org.uk/questions/
http://www.dawsons.co.uk/acatalog/Fi...formation.html
0
quote
reply
kat2pult
Badges: 18
Rep:
?
#2
Report 7 years ago
#2
I tend not to use those deals as they end up charging loads of interest and you pay way more for your product than if you had bought it outright.
1
quote
reply
The Procrastinator
Badges: 3
Rep:
?
#3
Report Thread starter 7 years ago
#3
(Original post by kat2pult)
I tend not to use those deals as they end up charging loads of interest and you pay way more for your product than if you had bought it outright.
These ones say that it's 0%APR The Arts Council England pay the interest. It's some scheme to get people playing music or something. I too normally avoid such things but this one seems pretty good!

Check the link out -
http://www.takeitaway.org.uk/questions/
0
quote
reply
The Procrastinator
Badges: 3
Rep:
?
#4
Report Thread starter 7 years ago
#4
Also just read that from the 1st of April only 18-25 years olds can apply for this....arghh I'm 25 at the end of May!! haha
0
quote
reply
xoxAngel_Kxox
Badges: 21
Rep:
?
#5
Report 7 years ago
#5
The only scam with regards to offers like these is that they're kind of counting on the fact that if you don't have enough money now, you won't have enough then. You might start off really positively and aiming to save enough, but things always happen to mean that you might have to spend some of it and if you don't have the full amount when they ask for it, you'll pay hefty interest over a longer time.

Some companies (including DFS) don't actually bother to tell you when your "interest free credit" is up, meaning that a lot of people just "forget" (easy to do over such a long period of time) and then they'll receive a letter a few days after it's up saying "right you now owe us _____" and you have no comeback, because at the end of the day you signed the papers.

It's possible for it to be a good deal, but only if you're REALLY careful, and also positive that you would be able to pay the full amount within the time period specified.
1
quote
reply
The Procrastinator
Badges: 3
Rep:
?
#6
Report Thread starter 7 years ago
#6
(Original post by Gemma :)!)
The only scam with regards to offers like these is that they're kind of counting on the fact that if you don't have enough money now, you won't have enough then. You might start off really positively and aiming to save enough, but things always happen to mean that you might have to spend some of it and if you don't have the full amount when they ask for it, you'll pay hefty interest over a longer time.

Some companies (including DFS) don't actually bother to tell you when your "interest free credit" is up, meaning that a lot of people just "forget" (easy to do over such a long period of time) and then they'll receive a letter a few days after it's up saying "right you now owe us _____" and you have no comeback, because at the end of the day you signed the papers.

It's possible for it to be a good deal, but only if you're REALLY careful, and also positive that you would be able to pay the full amount within the time period specified.
That's a good point, I'll bear it in mind. I just thought as I'm saving up money anyway this would just make it easier. I do suppose that when I have the piano the incentive to actually save for something I already have is a little harder.

I was planning to save as fast as I can and pay quick or if you have to wait 2 months then give it to my Dad to keep, so I don't get tempted to spend it
0
quote
reply
Joinedup
Badges: 20
Rep:
?
#7
Report 7 years ago
#7
maybe it's legit if the arts council are involved - suppose you could check if the same item is available for the same sort of price on a "buy now - pay now" basis to see if the ticket price has been inflated.
0
quote
reply
The Procrastinator
Badges: 3
Rep:
?
#8
Report Thread starter 7 years ago
#8
(Original post by Joinedup)
maybe it's legit if the arts council are involved - suppose you could check if the same item is available for the same sort of price on a "buy now - pay now" basis to see if the ticket price has been inflated.
Every one that I have found seemed to be the exact same price...you would have thought someone might do it for cheaper haha!

Thanks
0
quote
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Were you ever put in isolation at school?

Yes (199)
27.64%
No (521)
72.36%

Watched Threads

View All