Should I apply for an online finance to buy a camera?
Jessops do a nice interest free finance option for 6 months if you buy a camera over £250. I'm 18, and I've never taken out a loan or a credit card. What are the advantages/disadvantages of using the finance option? My camera costs £399. Will it affect my credit rating?
Finance best answer:
Answer by wolsy
Normally I would say think very carefully about taking out credit, however for this I would be more inclined. Reason being.. its not a huge amount of money to borrow and being 18 it would be good to start building up a positive credit history. All too often you are penalised because when you need to get credit you can't because you have never got credit before, so this could be a good option for you.
I have used Jessops for a Nikon D80 which I bought on credit. The beauty is its is interest free and if you pay for it over the 6 months (there may be an admin charge I can't remember no more than £25 though) you don't pay anthing more. Bascially your £400 camera, if you can pay off aprox £67 per month and at the end of the term its yours, your laughing and you've built up a positive credit rating.
The one thing I will say is.. whilst the above is all well and good.. make sure before you do this that you have the funds or access to the funds to pay it back, because the last thing you want is for you to default which would be the totally other end of the spectrum.
Finance
Kingkey finance plaza viewed from Xinxui Shenzhen China
Image by dcmaster
Orignal From: Should I apply for an online finance to buy a camera? and Kingkey finance plaza viewed from Xinxui Shenzhen China
No comments:
Post a Comment