Buy Now, Pay Later - Comparing Interest-Free Options for Furniture
With the birth and rise of companies like Afterpay, Latitude, Zip and more, retail is now at a peak of ‘buy now, pay later’ culture and convenience.
You don’t have to wait for the dining room of your dreams!
So, with all the options available, how can you choose the best option to take home interest free furniture today?
What is interest and interest-free?
Interest is the cost of borrowing that a lender adds on top of the loan amount. The amount depends on the type of loan, transactions and repayments you make.
Interest is added to the loan as a percentage of the loan at increments – which will be described in the terms of the loan.
Interest-free means you won’t pay those extra costs, for the time specified by the loan, as long as you comply with the agreed repayment terms.
What are the options and benefits?
There are a vast array of credit, loan and interest-free options, ranging from the traditional bank loan or credit card to more modern options like instantaneous ‘pay in 4’ or ‘afterpay’ options via an app on your phone.
These new, flexible payment options will pay for your service or product on your behalf and ask you to make repayment to the lender, which could be Afterpay, Zip, humm or Latitude.
It’s an ongoing account you can use across a variety of retailers, with all your repayments in the one place. Which is a plus, but it can become complex and costly if you choose to use them frequently.
When buying a larger priced item such as furniture, that you’ll keep for many years to come, another consideration you may want to make is a store interest-free repayment option.
The store-provided interest-free option has been around for a bit longer and has a mixed bag of reviews. In our experience, the good reviews come from those who use it to their advantage.
Taking advantage of these loans is simple – keep up with the terms of the agreement by paying on time. It’s a win-win. The retail outlet is paid and you get flexibility without interest.
Tips to make the most of interest-free:
- Know the fees, charges and interest rate before you sign
- Pay more than the minimum repayment to avoid overflow into interest
- Prioritise interest-free repayments before other more flexible or luxury items in your budget
- Don’t overcommit while you repay
- Monitor to stay on top of what you owe
24-Months Interest-Free
Adore Home & Living is all about helping people; ‘love where you live’, which is why we offer flexible payment options for creating style and comfort in your home, today.
Adore Home & Living offers a 24-months interest-free option*.
This plan requires customers to make a minimum payment each month, but they have the flexibility to make extra payments at any time.
So, when you want to elevate your home and take advantage of sales when you see them, consider interest-free options to help you spread the cost over the coming years, and enjoy the comfort and luxury today.
Adore Home & Living hand-picks the collection of stunning craftsmanship designs, including marble, Ashwood timber, leather, next generation fabrics, high gloss as well as durable materials such as sintered stone and ceramic.
Visit us in-store at one of our five Perth metro locations, or take a look at our range online at https://adorehomeliving.com.au/
*Conditions, fees, and charges apply. Clickhere for details
