I want to offer finance, interest free credit, 10 months payment plan etc

[jimster_s]

Hi

If I want to offer my private customers some sort of payment plans what options do I have?

I could self finance the offers myself however if they dont pay then it would become a problem.

1. If i want to offer a customer something and they spread the payments over 10 months with 10 instalments this could be done as just a standing order, however the customer can cancel it at any time. Can i choose to split a customers payments in 10 stages over 10 months if i like?
If I want to make it more official and take a direct debit what do i need to do to offer this?

2. If i want to offer the customer something like 10 months interest free on purchases is there any finance companies I can use that offer this or would I just have to somehow finance it myself?

3. If i wanted to offer real finance to customers at either a good rate or even a higher rate could somebody recommend a finance company that will offer this?

Im only a small company. We do building work, Kitchens, Granite worktops etc.

thanks

 

[internetspaceships]

I believe (but I could be wrong) that if you offer payment over three instalments or more you require a CCL.

So if you are going down that route you may as well use a finance company. After all if they won't give one of your clients credit, why should you?

A useful link for you. Check out the page on applying too and good luck.

http://www.oft.gov.uk/OFTwork/credit-licensing/do-I-need/

Regards

Jon

 

[jimster_s]

hi
thanks for the info. id rather use a finance company.
can anybody recommend one?
ive searched the net but cant seem to find any.

ideally id like to offer 10 months interest free, but any type of finance would be good.

thanks

 

[KateCB]

I think that the finance companies have 'offers' on the 'interest free' part from time to time (its not really free of course, you have to build it into your price to start with) however, that aside, try people like Black Horse Finance, or try this link:
http://www.freeindex.co.uk/categories/financial_and_accounting/consumer_finance/consumer_credit/