Finance

Can anyone of you lovely ladies help me out?… I know there’s a separate forum for finance but no one hardly seems to comment on there. I’m wanting to put £2,500 down and pay the rest over 10 months interest free. But how exactly does the finance work? I mean when you’re applying? Does the application ask you if you’ve paid a deposit and how much etc? Thanks!!! ??

Hi, this is exactly what I did. You apply for the finance through the email mya send you which doesn’t take long at all then if it is accepted you get an email advising this then asks you to pay your deposit to finalise it. This has to be done online and is no way it can be done any other way. After you have done this you get the email advising everything is complete. Just FYI also, the deposit they take if you are paying it by credit card is not classed as a normal transaction like a purchase in a shop and is like a cash advance so you may get charged more fees if doing this. I tried it as I have a cash back credit card but it wouldn’t go through, mya didn’t know why and when I phoned my credit card company they told me this. I then paid it with my debit card and there were no problems. Hope this helps xx

Thanks for your reply Robyn! It does help! My credit score isn’t fantastic that’s all, it’s got loads better over the past 6 months but it’s still not quite there. I’m just worried that I’ll get rejected even though I can afford to put £2500 down and pay the rest over a 10 month period. Xx

Also if you are accepted do you have to pay the deposit to finalise it straight away? Xx

There finance acception is very high my partner applied in his name he has very good credit and got declined .hopefully you will be accepted xx

I also put 2800 down for a deposit x

@slj1809 I work part time only 16 hours per week when our little girls go to nursery and didn’t have a problem being accepted. One thing mya did advise me though was the person that takes the credit out is the one that pays the deposit, so it wouldn’t let me take the credit out and then pay deposit from my husbands account it had to be from mine too or him take the credit if that makes sense? It tells you if you have been accepted before asking you to pay your deposit so paying half straight away unfortunately doesn’t have an impact. It doesn’t go through a full household budget or anything like that though, it was really quick to do. If for any reason it did get declined someone else can do it for you though and you give them the money if you have someone that could. Fingers crossed it all goes through though, good luck xx

Do they require the full 2500 once you get accepted? Xx

It depends which finance option you are going for as they do longer than 10 months but then the interest rates search quite high. With the ten month and £2500 deposit it’s interest free. I think the minimum deposit is £500 though from what I can remember my PC saying if you do want to pay it back over a longer period xx

I applied for finance and got rejected since I have like 0 credit rating so I was expecting this. Did it in my boyfriend’s name and got accepted straight away. Didn’t pay a deposit or anything at that point since didn’t have the whole £2500 then. Saw my PC a few days later and gave her my bank details there and then to take £500 to secure my op date, then she had to resend me the finance application with that £500 taken off. I filled it in again in my boyfriend’s name, paid the rest of my deposit and now I’m ready to go.

You don’t need to pay the deposit straight away, they pretty much just send you an automatic email once a day asking you to pay it, so just do it whenever you can 🙂 xx

Does anyone know how much deposit you have to pay if you aren’t having it on finance ? Or if you have to pay all in one ? X

@chelsea3mma I know it’s £500 to secure your date and then I read that the full balance needs to be paid something like 3 weeks before. Not sure if you can pay it in parts or what though x

Ok thank you ☺️ xx

Thanks for everyone’s reply!! Appreciate it ? I’m so dubious about applying for the finance – don’t want it to affect my credit score especially when I’m trying so hard to improve it! Xxx

I applied and got rejected so I did a free month trial of my Experian credit score or something and it said I had a good credit rating and nothing had gone against it, just that I had nothing to prove I’d keep up with payments since I’ve never had a contract or anything. But yeah what I’m saying is that I had no strikes against me even though I’d tried and got rejected for finance so I’m not sure if it does actually leave a mark xxx

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