Is 0% Finance Really A Good Deal?puregenexadmin
The Stark Truth
Contrary to popular belief, 0% interest finance is not actually free! The financing costs must be covered somehow, so most vendors simply add this cost to the list price of the machine, resulting in inflated prices that hide an uncomfortable truth; Namely, whether you take the finance or not, you are already paying for the financing costs (including the interest), as they have simply been added to the list (cash) price of the product you’re ordering!
Why Should I Care?
Perhaps you don’t really mind, if you’re happy paying inflated prices for a product, where the supplier is simply charging all customers, whether they use finance or not, for the financing charges and making extra profit margin if the customer chooses not to use the finance. In our opinion, not only does this treat customers unfairly, it actually reduces your choice, as you can’t see the REAL interest rate you’re paying within that purchase price!
What Are The Alternatives?
For these reasons, we don’t offer finance directly at all. We feel the most transparent and fair way to engage with our customers is to provide them with clear and open options, that are flexible, no hidden costs or charges and the coice is entirely with you, the customer.
Whilst we don’t offer finance or rental ourselves, we have partnered with PayPal (our payment processor) to offer their finance on purchases from the PureGenex shop. The application process is entirely online and can be initiated during checkout (just choose PayPal as the payment option during checkout and then select “PayPal Credit” when you arrive at the PayPal payment screens). This operates much like an electronic credit card, with 4 months interest free for purchases over £99, with payment terms being determined by you, therefore offering a quick and extremely flexible means of financing your purchase. We receive no finance “kick back” from PayPal and do not incorporate any financing costs into the list prices of our products, as we feel this is the most fair and transparent approach for our customers.
Alternatively, you are free to obtain your own financing, so can ensure you’re receiving the best rates for your situation, but also you will know that we aren’t receiving any form of incentive or commission to sell you a finance product.