A Guide to Pay Monthly Catalogues
For those who want to purchase new clothing, the latest HD TV, new gaming systems, or appliances, the high cost may dissuade you from making such purchases. But, even if you do not have the fully amount to purchase, pay monthly catalogues are a great way to take these items home the day you want, and pay them off over time, rather than pay the full purchase price up front.
How do pay monthly catalogues work?
As the name implies, pay monthly catalogues allow you to make a purchase today, and make monthly installment payments until the full purchase price is paid off in full. This purchase option allows you to buy expensive items you wouldn’t be able to purchase if you had to pay the full price all at once. It also makes purchasing expensive items reasonable, for those who love having the latest, and greatest products.
Just like credit cards, the interest rate you pay through these types of credit catalogues will vary with each merchant. There are even stores that offer interest free periods, especially if the customer puts down a certain amount (10%, 20%, etc) of the purchase price, on the day they make the purchase. This allows you to pay off the full purchase price, over a period of time (6 or 12 months interest free), rather than having to pay the full price, if you find a catalogue offering interest free terms.
Got Bad Credit?
Is your credit rating lower than you’d like? Do you have trouble getting accepted for finance? We have a large selection of catalogues that are ideal for those who have a poor or bad credit rating. For those of you who’re looking for a catalogue which provides no credit checks, you will be disappointed as we do not recommend them.
What will your monthly payment be?
Again, similarly to credit cards, there is typically a minimum monthly payment due (which is usually £5 with most pay monthly catalogues), or you pay a certain percentage of the total amount owed (usually 1/12 of the full price owed). Depending on the amount you owe, how much the interest rates are, and how many months you have to repay the purchase price, your monthly payment is going to vary with each consumer who purchases through these catalogues.
Is this purchase option right for you?
Weighing the pros and cons will allow you to decide whether spreading the cost with catalogues is the right way to make purchases. Some of the pros include: you can pay the full price off over a period of time, many catalogues offer interest free periods, you have the ability to buy items you can’t otherwise afford, and most retailers offer higher limits than many credit cards. There are also a few cons to consider. Some of these include: you will pay interest on the purchase price, there are lending limits in place, and different catalogues may limit the items you can purchase, through the pay monthly option.
As long as you are a responsible shopper, and make the minimum payments each month, these pay monthly stores may be a great way to purchase items you want to buy, but do not have the means to pay the full purchase price for. It is in your best interest to compare the catalogues, their terms, and restrictions, to ensure you purchase with the best catalogue, when you choose to finance your purchases in this way.