5 reasons customers use finance to fund electronics

Wednesday 18th August 2021

Man and woman in a technology store looking at electrical products

In a world full of technological advances, happening every single day, keeping up to date is high on many people’s agenda. But that technology comes at a price, and it’s a price not everyone is able to pay upfront.

Enter: finance.

Whether it’s interest free phones, buy now pay later TVs or anything in between, there are 5 key reasons customers rely on credit for making these purchases possible. Meaning there are 5 key reasons why you should be working with a reliable finance provider…but more on that later.

1. In safe hands

Parting with hundreds, often thousands of pounds is a very scary thing to do. What if they wind up part of an elaborate scam? What if they hand over all that money only to receive your device and realise it’s a dud? A buy now pay later option gives your customer the chance to check over their new purchase and make sure they’re 100% happy with it, long before any payment is made.

2. Spreading the cost

With high ticket purchases like a new phone, TV or laptop, a customer is unlikely to need another soon after, so it makes sense to spread the cost between the time they buy and the time they next need to – at least a couple of years.

“But what if they don’t need, but want another before their agreement ends?” I hear you ask. Well with Novuna, agreements can be settled early with no additional charges, meaning they can just get on with the upgrade. Simple.

3. No interest to pay

The higher the cost of purchase, the more interest they will pay… that is, of course, unless they take advantage of a good zero percent interest finance offer. They get the technology they need (or want) instantly, with no large upfront cost and they will only end up paying exactly what it’s worth by the end of the agreement. How can they resist?

4. Keeping up to date

With developments happening as quickly as they are, it’s vital that your customers are able to keep up to date, and credit allows them to do that without having to save up beforehand.

5. An increased need

With many people now working from home, their needs may have completely changed in the last couple of years. Where before they may have needed only a handful of devices, they may now need 10 or more to kit out their home office to the same standard as they’re used to. Finance gives them the option to get everything they need without spending all that money upfront.

So, as you can see, there are several reasons why it makes perfect business sense to offer an affordable finance option to your customers, including buy now pay later and interest free credit. So what are you waiting for? Speak to us today to see how Novuna could help.