As a gamer, having a powerful gaming PC that can run the latest games smoothly is crucial. Nevertheless, gaming PCs can be expensive, and not everyone can afford to pay the full price upfront. Fortunately, finance options are available to make purchasing a gaming PC more manageable. In this article, we will examine how to obtain a gaming PC on finance in the UK.
To do so, you will need to sign a loan agreement and be aware of any early settlement fees. Additionally, your completed and signed agreement may affect future lending decisions. It’s worth noting that the Swedish Financial Supervisory Authority oversees credit agreements in the UK. Ensuring that you have a good existing account performance will help you obtain a suitable credit agreement.
What is Gaming PC Finance?
Gaming PC finance is a way of purchasing a gaming PC by spreading the cost over a period of time through a finance agreement. Instead of paying for the gaming PC upfront, you can make monthly payments until the cost of the PC is fully paid off.
Novuna Personal Finance
One of the finance companies that offer gaming PC finance is Novuna Personal Finance. They offer online finance applying for gaming PC purchases. Novuna Personal Finance offers finance options with monthly payments that can be spread over a period of time, making it easier for you to get the gaming PC you want without having to pay for it all at once.
Buy Now Pay Later Option
Another option for gaming PC finance is the buy now pay later option. This option allows you to get the gaming PC you want and start using it right away, without having to pay for it upfront. With this option, you can spread the cost of the gaming PC over a period of time, without having to worry about making any payments for a certain period of time.
PayPal Credit
PayPal Credit is another online finance option that you can use to get a gaming PC. With PayPal Credit, you can buy a gaming PC and spread the cost over a period of time with monthly repayments. PayPal Credit offers an interest-free arrangement for the first few months, making it a good option if you want to avoid paying any interest on your gaming PC finance.
Credit Reference Agencies
When you apply for gaming PC finance, the finance company will carry out a credit reference search to check your credit rating. Credit reference agencies hold information about your credit history and can provide the finance company with information that will help them make a decision on your finance application.
Financial Conduct Authority
All financial services companies, including those offering gaming PC finance, must be authorised by the Financial Conduct Authority (FCA). The FCA is responsible for regulating financial services companies in the UK, and you can check whether a company is authorised by searching the Financial Services Register.
Applying for Gaming PC Finance
To apply for gaming PC finance, you will need to complete an online application form. The form will ask for a few personal details, such as your name and employment details, as well as your personal bank account details. The finance company will use this information to carry out a credit reference search and assess your eligibility for finance.
Monthly Repayments
Once your application is approved, you will need to start making monthly repayments. The amount of your monthly repayment will depend on the cost of the gaming PC and the finance agreement you have agreed to. Some finance agreements may include arrangement fees or early settlement fees, so it is important to read the terms and conditions carefully before signing the agreement.
Credit Scoring
Your credit score is an important factor when it comes to applying for gaming PC finance. If you have a good credit rating, you are more likely to be approved for finance and may be offered better finance options. However, if you have a poor credit rating, you may find it harder to get approved for finance or may be offered less favourable finance options.
Final Thoughts
Buying a gaming PC on finance is a great way to spread the cost of your purchase over time and make it more affordable. However, it’s important to do your research and choose a reputable finance company that offers transparent terms and conditions. Make sure you understand the monthly payments, arrangement fees, and early settlement fees before signing the finance agreement. Additionally, it’s crucial to provide accurate personal and employment details in your online finance application form to avoid delays or rejection. Always check your credit report and credit rating before applying for finance, and don’t miss or make late repayments as they can negatively affect your credit score and future lending decisions. Finally, enjoy your dream gaming PC and make sure to keep up with the monthly payments to avoid any outstanding balance or debt collection agency involvement.