Buying TVs on Finance
Buying TVs on finance has never been easier and gives you the flexibility to buy the latest tech while managing your budget. However, buying on credit isn’t for everyone so let’s have a look at the pros and cons.
Advantages of buying TVs on finance
The main reason people choose to use finance is to spread the cost of a larger purchase. Buying a TV on credit can be a great way to buy the product you want without putting too much strain on your budget. Instead of saving up or handing over a large portion of your wages credit terms allow you to make a smaller, more affordable payment every month.
Spreading your payments over a number of months or even a couple of years allows you to buy a better quality TV than if you had to pay out a lump sum. This will future proof your television as you can buy a high-quality set which won’t be outdated within a few months.
Of course that’s another advantage of buying TVs on finance. You’re able to invest in the latest technology and even be a first adopter.
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Buying with credit means you get to enjoy your new television straight away without having to save up over a long period. If your current television has packed up buying TVs on finance is a quick way to get a new television. No worries about missing the next episode of GoT.
Disadvantages of buying TVs on finance
When you buy anything on credit you’ll be charged interest. So make sure you’re aware of what those charges will be. Never borrow more than you can afford to repay.
Charges vary between lenders. You can usually choose to pay on terms ranging from 3 to 36 months. The longer the repayment terms, the more you’ll pay in interest. This means of course you will end up paying more than the cash price for your new television.
Not everyone can buy on credit
Another downside is that depending on your credit history you may not be approved for finance. All credit is offered subject to status. And each lender has different criteria they use when deciding to approve or reject an application for credit. The good news is you’ll get an instant answer when you buy a TV online at Ebuyer.
The extra fees you may be liable for is another disadvantage when buying TVs on finance. Before taking out credit you must always check and double check the terms and conditions before you decide to go ahead. Make sure you’re aware of any extra charges you may be liable for if you miss a payment.
How to buy TVs on finance from Ebuyer
It’s easy to do. Choose the TV you want from the large selection we have on offer and add it to your basket. Before checking out you’ll be given the option of paying immediately or applying for finance. If you choose to buy your TV on credit you have two lenders to choose from. You get an instant decision and there’s no paperwork.
It varies. The final cost and how much you have to repay each month depends on how much you borrow. It also depends on the lender and of course the rate of interest.
But let’s look at an example using one of the credit option available to you at Ebuyer. Our preferred partner is Klarna. With them you can choose how much you want to pay per month and how many months you wish to borrow the money for. There’s an easy to use calculator on the Ebuyer finance page.
Let’s assume you’ve looked at your budget and have decided you can afford to make repayments of £30 per month. You decide to repay the credit over 24 months.
This will allow you to buy a TV for £700, paying a £70 deposit and with monthly repayments of £30.23. This example is calculated at a fixed representative APR of 14.9%. These figures are correct at the time of writing.
You can see information on the current interest rates and costs from our preferred lender (Klara) on this page.
To see the full range of TVs available from Ebuyer click here.