Finance Options

Eogclouder

Does anyone know of anywhere in the UK or Ireland that offer finance options?
I see that HardwareVersand does, but it seems to be for Germans only.

(buy on credit, pay via direct debit over a few months)

ShadowHearth

To be honest, you are way better off going to your bank and geting a personal loan. Apr will be way lower and you will be able to buy from any online retailer you want.

ED E

Think Scan might do it.

Eogclouder

ShadowHearth wrote: »

To be honest, you are way better off going to your bank and geting a personal loan. Apr will be way lower and you will be able to buy from any online retailer you want.

I'm looking into this aswell.

ED E wrote: »

Think Scan might do it.

UK only unfortunately, same with Aria.co.uk.
I was hoping some of the Irish sites did it, but no luck with Google thusfar!

pawrick

if it's short term, would getting a credit card and transferring over the balance interest free for 6 months to another card be an option?
Might be too much trouble but if you are organised, have a card already and check the fine print you could save on some/all interest this way. Just remember not to let the interest free period run out without having it paid off in full as the rates they charge are high compared to a standard loan. Otherwise a bank or credit union loan seems the best option.

Redfox25

Go join your local credit union. Much cheaper thsn a bank.

Lu Tze

Eogclouder wrote: »

Does anyone know of anywhere in the UK or Ireland that offer finance options?
I see that HardwareVersand does, but it seems to be for Germans only.

(buy on credit, pay via direct debit over a few months)

I would save up to be honest if you can manage without for a while. The idea of buying things on credit, which devalue at such a rate doesnt make any sense.

Assuming the time to pay off the credit, and the time to save the same amount are the same (though you should be quicker to save, as you wont be paying interest) you will likely get better, newer components with the saved money when you go to buy, compared to paying the same amount right now, on credit.

ShadowHearth

Lu Tze wrote: »

I would save up to be honest if you can manage without for a while. The idea of buying things on credit, which devalue at such a rate doesnt make any sense.

Assuming the time to pay off the credit, and the time to save the same amount are the same (though you should be quicker to save, as you wont be paying interest) you will likely get better, newer components with the saved money when you go to buy, compared to paying the same amount right now, on credit.

I dont really understand people who are afraid of loans like fire or treat credit/loans as Devils tools.

If he borrows 1k eu, the interest on it will be around 10%. Its only around 100eu over a year. Thats like 2eu per weak. Its a viable option and I dont see any issue with anyone taking some money to buy a PC like that. When he will buy a pc for 1k eu, in one years time its still going to be a beast and he will have loan payed off. You can always wait for next new tech thing too, but we all know why it sucks and how you end up with nothing.

Now, there is always a factor of people being idiots and borrowing more money then they can afford to spend. OP might have already 3 CC maxed out and a huge car/student loan, we dont know. But if he does have at least half a brian some savings to back it up, a steady income, then I say go for it, just not at the rates of APR the online pc shops do.

*I dont have any loans currently myself, but I have taken before 5k and 2k eu loans and have payed them off. If needed I will take out a loan again. Though I do take out loans only, when I have savings to back it up. For example if I got 3k eu on me and I want to spend 1k eu, I just take a loan of 1k eu, instead off just dipping in savings.

Lu Tze

ShadowHearth wrote: »

I dont really understand people who are afraid of loans like fire or treat credit/loans as Devils tools.

If he borrows 1k eu, the interest on it will be around 10%. Its only around 100eu over a year. Thats like 2eu per weak. Its a viable option and I dont see any issue with anyone taking some money to buy a PC like that. When he will buy a pc for 1k eu, in one years time its still going to be a beast and he will have loan payed off. You can always wait for next new tech thing too, but we all know why it sucks and how you end up with nothing.

Now, there is always a factor of people being idiots and borrowing more money then they can afford to spend. OP might have already 3 CC maxed out and a huge car/student loan, we dont know. But if he does have at least half a brian some savings to back it up, a steady income, then I say go for it, just not at the rates of APR the online pc shops do.

*I dont have any loans currently myself, but I have taken before 5k and 2k eu loans and have payed them off. If needed I will take out a loan again. Though I do take out loans only, when I have savings to back it up. For example if I got 3k eu on me and I want to spend 1k eu, I just take a loan of 1k eu, instead off just dipping in savings.

Sorry, i was specifically referring to buying things credit which devalue quite quickly (Edit: though reading back i didnt make the point absolutely clear), like computer components as the industry moves on quite quick.

In the scenario outlined, once you have finished paying your 1100 over the year, you will have an asset worth about 700-800. Saving the 1000 euro over the year, and buying, will get you an asset worth 1000 euro at the end of the year.

Obviously if circumstances required something immediately then buying on credit is the likely the only option.

I dont particularly get your final comment, if you have the cash why take a loan, other than if you need to keep a minimum amount in a rainy day fund? Interest on savings are far less than interest on a loan.

ShadowHearth

Lu Tze wrote: »

Sorry, i was specifically referring to buying things credit which devalue quite quickly (Edit: though reading back i didnt make the point absolutely clear), like computer components as the industry moves on quite quick.

In the scenario outlined, once you have finished paying your 1100 over the year, you will have an asset worth about 700-800. Saving the 1000 euro over the year, and buying, will get you an asset worth 1000 euro at the end of the year.

Obviously if circumstances required something immediately then buying on credit is the likely the only option.

I dont particularly get your final comment, if you have the cash why take a loan, other than if you need to keep a minimum amount in a rainy day fund? Interest on savings are far less than interest on a loan.

Well, lets be honest here. Gaming PC is a luxury item and not an investment. Same as buying brand new car. Though people in Ireland love to save 200eu per year on road tax by spending 25k on Brand new car, which drops in value by 5k as soon as it leaves dealership, but thats another Story. :pac:
I really dont think, that sitting and saving up for a whole year to get that PC is worth it, when taking a loan and getting it now will only costs you a 100eu. Yes, the value of components will drop, but as I said already, its a luxury item and not investment. If you want to be playing games now, then go for it. Specially now, when components dont age as quickly anymore. If I would have taken a loan for my current PC, I would have payed off loan 2 years ago and I am still using my beloved 2500k system. ITs value maybe droped, but its still a powerful machine that plays games like a champ. I dont really care about value of components.
I would not take a loan in the era of pentium I - IV though. Those were the times when you buy a PC and it is already ancient 3 months later. :pac:

As for my last comment. I like having money and I LOVE having extra money just in case. Taking a loan is a service. IF that service is costing me only 100eu in a year, but gives a peace of mind, that I got extra cash for something else, then why not.
Now its just the way I like do things. I am not saying its right or wrong. Everyone has their own ways of stacking up the savings socks. Its just Credits and loans get a lot of **** reputation, because stupid people dont know how to use them correctly! :pac:

..Brian..

OP, I spent some time last year looking for exactly this but couldn't find anything. Your best bet will be the credit union. Much cheaper interest than retail finance or banks and much more flexibility as you are able to spend the money anywhere. Not to mention building up a credit history with the CU may help you down the line if you need a loan for something else.

ShadowHearth

..Brian.. wrote: »

OP, I spent some time last year looking for exactly this but couldn't find anything. Your best bet will be the credit union. Much cheaper interest than retail finance or banks and much more flexibility as you are able to spend the money anywhere. Not to mention building up a credit history with the CU may help you down the line if you need a loan for something else.

I actually need to get finger out and open account with local credit union too.

..Brian..

I was the same for years man, always said I would but kept putting it off. Finally got around to it about 2 years ago, 100% worth it and would defiantly recommend it!

Eogclouder

Thanks for the replies lads!