In UK, almost everything today can be purchased on credit, from homes and cars, to gadgets and furniture. Those who do not have enough savings can today afford to purchase quite a lot of household items on credit and pay for it later. Furniture is no different.
With the high demand for bedroom furniture among homeowners today, stores selling bedroom furniture today offer credit to their clients on their purchases so that they would not have to pay for their furniture instantly.
Beds on finance is a good option for those who do not have savings but need to replace the furniture urgently. However, not all stores would provide this option to their customers. There are basically two types of credits which are offered by stores on bedroom furniture which are as discussed below:
Furniture credit with interest
A few stores would charge interest on the beds purchased from their store. Generally there is a price range applicable. If the purchase amount is below the price range specified, interest charges might be applicable. Beds on finance are generally offered by financial services providers which have a tie up with the store to provide finance options to their customers.
Purchasing beds on credit where interest is applicable is not generally a good idea unless the requirement is urgent and there are no savings to pay for the purchase. However, due to the tough completion in the finance market today, homeowners would be able to easily find stores where they would be able to avail interest free credit.
Interest free credit
Beds on finance where no interest charges are applicable is the best way to purchase bedroom furniture on credit. In this finance option, the cost of the bed would be divided into 10 to 12 monthly instalments and APR would not be applicable. This is a great way to replace the bedroom furniture and pay for it later since it is affordable and there are no added expenses for the credit availed.
However, there would be a few terms and conditions applicable which would vary according to the finance provider. The purchaser availing credit would have to be a resident of UK and above the age of 18. A few documents like the identity proof and residence proof would also have to be provided. Those who are interested in availing beds on finance would have to submit an application to the store which would then be forwarded to the finance provider.
The delivery of the beds is usually not done until the finance is approved by the provider. However, the processing time on these loans is generally very short and credit is approved within a day or two which makes it quite convenient. Check all the details and read the agreement document carefully before you sign it in order to avoid any complications later.