How to apply
Add a product available on Finance to your shopping basket and click to checkout. You will be redirected to the Pay4Later website to complete your order. Complete your details in their 100% secure checkout and they will assess your credit application.
Qualifying for credit
Pay4Later can only consider your application if you have a good credit history. If you do not meet the finance criteria of the lender you may be offered an alternative finance product. The lender requires us to perform a credit search to assess your eligibility which may leave a record on your credit report. You need to pass a credit score when you apply. Meeting the criteria does not guarantee acceptance.
What is a Credit Search?
A credit search occurs when a third party investigates your credit report. They’re looking to see how you manage your credit now, and how you’ve managed it in the past. This search may then be recorded on your credit report for other third parties to see. This is useful to lenders because if you’ve made multiple applications for credit recently, it could suggest to them that you have an urgent need for credit which you may struggle to pay back. In order to offer the best accept rate for customers the Pay4Later platform may perform more than one search. We will always perform a search on behalf of the first lender, who offers the best representative APRs (annual percentage rate of interest). If this lender declines your application we may repeat the process with a second lender. These searches could be a combination of ‘soft’ quotation searches (which do not remain on your report) and ‘hard’ credit searches (which do remain on your report). The type of search we perform is dependent upon the lender in question and their instructions to us based upon their lending criteria.
Is a deposit required?
Yes. A 10% deposit will be taken at the time you order.
How are my monthly payments made?
All monthly payments are paid by direct debit from your personal bank account. Typically the first payment will be due around one month after the date of the finance agreement. Subsequent monthly payments will be due every month for the entire length of your repayment period, usually on the same date in the month.
Why products are available to buy on finance?
We have a selection of products available to purchase independently on Finance, providing you with a great way to get the latest technology and gadgets for a low monthly cost without an associated mobile phone contract.
What length of repayment is available?
Loans are 24 months.
Can I pay off my loan early?
Yes you can! Simply contact the lender via the details shown on your credit agreement.
Who provides the credit?
Consumer credit service is provided by Pay4Later Ltd. Pay4Later is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 728646). Registered offices are at 33 St Mary Axe, London, EC3A 8AG. For more information please refer to www.pay4later.com/consumerfaq or visit www.pay4later.com. Finance is provided through the Pay4Later platform by a number of lenders. You will be offered the best rate available based on your credit history and our lenders’ credit decision policies. You will be informed who the lender is at the point the loan is offered and provided with their full contact details.
Representative example of credit:
Purchase Price - £533.99
Deposit (10%) - £53.40
Amount of Credit - £480.59
Monthly Payments - £23.07
Total Payable - £607.02
Interest Rate - 14.9%