Thinking of choosing finance?
Finance is a great way to spread the cost of your purchase. To make it easy we’ve teamed up with Deko whose smart technology lets you apply for and complete the loan application quickly and entirely online.
Simply add the items you love to your basket. Once you are at the checkout select the finance option that suits you and then choose Deko. The quick application form should take no more than a couple of minutes to complete and you’ll receive an instant decision. Easy!
What are the requirements for finance?
- You must be 18 years old or over.
- In regular full or part time employment (minimum 16 hours per week, unless you are retired or a houseperson with a spouse in full time employment).
- Be a permanent UK resident and able to supply a UK address history for the last 3 years.
- You must have a UK bank account capable of accepting Direct Debits.
- No adverse credit history (no CCJ’s, IVA’s or bankruptcies).
- The goods must be delivered to your home address.
- The deposit must be paid using a credit or debit card.
Check your eligibility
You will only be considered for finance if you:
• Are at least 18 years old
• You’re in paid employment or have a regular income (minimum 16 hours per week or £5,000 per annum, unless you are retired and receiving a private / company pension or in receipt of disability allowance)
• Are a permanent UK resident and have lived in the UK for at least 3 years.
• Have a UK bank account capable of accepting Direct Debits
• Have a good credit history with no late payments, debt relief orders, County Court Judgment (CCJs), Individual Voluntary Arrangement (IVAs) or bankruptcies.
• Provide an email address so your documentation can be emailed to you.
Our payment plan options
We offer a range of interest-free and interest bearing finance options to help you spread the cost of your purchase:
- Products that are £300 or greater are eligible for our 12 month 0% APR finance option.
- Products that are £500 or greater are additionally available for a 24-month 9.9% APR or 36-month 19.9% APR option.
The minimum deposit required is 10%.
However you can choose a deposit of up to 50% of the value of the goods.
You can use our finance calculator on the individual product page or in the basket when checking out to check the impact of various loan values, terms and interest rates on the total amount you need to pay and the monthly repayments.
Representative example would be:
|0% finance over 12 months||9.9% finance over 24 months||19.9% finance over 36 months|
|● Total order value = £600||● Total order value = £800||● Total order value = £1000|
|● 10% deposit = £60||● 10% deposit = £80||● 10% deposit = £100|
|● Total amount of credit = £540||● Total amount of credit = £720||● Total amount of credit =£900|
|● Duration = 12 months||● Duration = 24 months||● Duration = 36 months|
|● Representative APR = 0%||● Representative APR = 9.9%||● Representative APR = 19.9%|
|● Interest charged = £0||● Interest charged = £71.28||● Interest charged = £275.24|
|● 12 monthly payments of = £45||● 24 monthly payments of = £32.97||● 36 monthly payments of = £32.65|
|● Total amount payable = £600||● Total amount payable = £871.28||● Total amount payable = £1275.24|
Paying with finance
Simply add the purchases to your basket and select Deko at checkout. You’ll then be taken to the application form, which takes just a few minutes to complete.
Your application will be assessed based on eligibility, credit history and affordability and Deko will let you know the outcome in just a few seconds. It’s important to know that when applying for finance a hard credit check is made which is recorded on your credit file.
Once approved, Deko will let you know who the lender is and provide you with their full contact details. You then just need to digitally sign your credit agreement, pay your deposit and wait for your order to arrive.
In a few cases, your application may be referred to a lender for manual assessment and you’ll be notified by email of the credit decision within 24 hours. If you’re not approved for finance it could be for a variety of reasons and the lender will be able to give you more information.
Repaying the loan
Your first direct debit payment will be taken about a month after you receive your purchase. This will show on your statement as a payment to your lender. You have the right to repay all or part of the loan early at any time.
The goods must be delivered to your home address. We cannot deliver to any other address.
When collecting an order you will be required to provide a form of ID such as a driving license or passport & to fill in and sign an order collection form which will be provided by the retailer (techformusic).
There is a 14-day cooling off period where you can withdraw from the credit agreement after signing your documents. If you wish to do this please contact us (your retailer) directly. We can cancel the application on your behalf. There is no need to contact Deko or your lender.
A payment plan does not affect our standard refund and returns policy. Just contact us and we’ll cancel your application and the lender will refund your deposit and let you know of any outstanding balance if applicable.
Fabtronic is authorised and regulated by the Financial Conduct Authority, register number 720251 and act as a credit broker and not a lender.
Fabtronic is a credit broker and not a lender. Finance is provided through the Deko platform by Omni Capital Retail Finance Limited. Omni Capital Retail Finance Limited is authorised and regulated by the Financial Conduct Authority (register number 720279).
Deko is a trading name of Pay4Later Ltd which act as a credit broker and not a lender. They are registered in England and Wales (company number 06447333) and authorised and regulated by the Financial Conduct Authority (register number 728646). For more information please go to www.dekopay.com/support or visit www.dekopay.com.
PayPal Pay in 3
If you choose to pay via PayPal Pay in 3 HP will debit your account as soon as your order is processed. PayPal Pay in 3 is an interest-free loan that lets you split your basket into 3 payments, with the first due at time of purchase and subsequent payments due every month on the same date.
- PayPal Pay in 3 allows you to pay for your purchase in three interest-free instalments.
- Your first instalment is due at the time you make your purchase. Your second and third instalment will be due on the following two months.
- Repayments are made automatically from your PayPal account using the funding source you select.
- If you miss a repayment:
- You will be charged a late fee of £12.
- Your credit record may be affected in a way that makes it more difficult or expensive to obtain further credit.
- You may repay the amount you owe in full at any time, without any fees or charges.
- We may carry out a credit check when you apply – if we do, this will leave a mark on your file that can only be viewed by you and not by others.
- We will provide information on how you manage your repayments to credit reference agencies.
- Before you proceed, please carefully consider these terms and conditions and whether you will be able to make the repayments when they are due.