Evesham 0% finance offer

  wizza68 21:52 24 Jan 2007
Locked

Hi, this is my first post.

I have noticed that Evesham are offering 0% finance on selected units over 2 years. This compares with APRs of 30% or so from other companies.

Does anyone out there know of a catch. Whilst the units are standard you can customise them. Is what being offered old kit or is this genuinely a good deal.

Thanks for your advice.

  spuds 22:28 24 Jan 2007

Just had a quick look at their finance deals, and there doesn't seem to be a catch. Remember though that a 10% deposit is required to start the agreement, the remaining balance is 0%, and this includes the delivery charges.

All the computers on offer are basic units which can be customised to your requirements, so no old kit there. Evesham have a very good reputation, and the after-sales support seems to have a very good rating, not like some similar company's.

One other point that I would mention. If you have the unit customised, then you will lose the benefit of the Distance Selling Regulations, but if the unit is built as per Evesham's specifications, then the 7 day rule will apply.

Hope this helps, and welcome to the forum wizza68.

  Jimmy230 07:30 25 Jan 2007

The only limitations that I can see are that 0% finance appears to be limited to selected products. The availability of 0% finance will be subject to your credit status and usually these arrangement have pretty hefty charges if you default. It's therefore worth having a close read of the terms and conditions beforehand.

  wizza68 08:13 25 Jan 2007

Thanks spuds and Jimmy230 for taking the time to have a look for me. It is always good to have other opinions and nice info about the Distant Selling Regulations that I had no idea about.

  Newuser4165 13:49 25 Jan 2007

You may also find that there is an administration fee of £25 to pay up front.
You only see evidence of this fee once you have requested a finance deal.

  Simsy 15:10 25 Jan 2007

and I don't know if applies to this instance with Evesham...

Generally 0% finance deals are usually achieved by you agreeing to take a loan from a finance company, with 0% payable if you pay all the debt off by the end of the agreed term...

This has several implications;

The company selling the goods gets paid straight away, by the finance company. They are not waiting for the money. Potentially there is no more incentive for them to provide any better aftersales service than if you'd paid cash.

You are not paying by credit card, so you do not have the benefit of credit card protection and all that entails.


The money is made by the finance company on the expectation that come th end of the deal you will not pay off the remaining balance, and the outstanding loan will accrue interest at a significant rate.



Note that I'm not putting such schemes down at all, (I have nade use of such in the past!), just pointing out what's not so obvious!


Regards,

Simsy

  spuds 18:13 25 Jan 2007

In the case of any finance arrangement (not personal loan) similar to a direct computer purchase, then Section 75 of the Consumer Credit Act comes into play. The finance provider as 'Equal Liability' in resolving any issues.The same rule applies to purchases via credit cards, not debit card or cash transactions.

  Simsy 19:55 25 Jan 2007

I didn't realise that, spuds.

My apologies,

Regards,

Simsy

  skeletal 19:57 25 Jan 2007

If the link works check out my post in this thread:

click here

The point being that, if you play tunes with all the specs, you may get a different answer.

No matter what you do, I would still recommend Evesham.

Skeletal

This thread is now locked and can not be replied to.

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