TV On Finance

This is a promotional article containing credit products offered by TheYesCatalogueLTD t/a Mad For It.

A new television can be a significant household purchase. If paying the full price upfront does not suit your budget, buying a TV On Finance may allow you to spread the cost over an agreed period.

Mad For It is an online Catalogue offering televisions, technology and household products with different payment options. The plan available to you will depend on your circumstances, including your creditworthiness and affordability assessment.

Spreading the cost can make a purchase easier to divide into smaller payments, but credit is still a financial commitment. Before ordering a TV, it is important to understand the repayment terms, dispatch arrangements and possible impact of missed or late payments.

How Does TV On Finance Work?

TV finance allows eligible customers to spread the cost of a television rather than paying the full amount upfront. You make payments according to the terms of the credit agreement offered to you.

Mad For It offers regulated and unregulated credit agreements. Customers may be offered different payment arrangements depending on factors including their personal credit score, creditworthiness and affordability assessment.

Eligible customers may be offered a 12-month regulated credit agreement. A 12-week unregulated credit agreement may also be available. With the 12-week agreement, a number of pre-payments may be required before the television is dispatched. The number of pre-payments can vary depending on the customer’s personal credit score and affordability assessment.

It is important to check which agreement you have been offered before placing an order. The repayment period, payment requirements and when your television is dispatched may differ depending on the plan for which you qualify.

Are Credit and Affordability Checks Required?

Opening an account does not mean that credit or a particular payment plan is guaranteed. Eligibility depends on the checks and assessments carried out by Mad For It.

An affordability assessment is used to help determine whether a customer may qualify for credit and which payment arrangement may be available based on their circumstances.

A soft credit check is carried out when registering an account. A soft search does not normally appear to other lenders in the same way as a hard credit application search.

Mad For It carries out a full credit check once the items have been delivered. Customers should read the relevant terms and credit agreement carefully so they understand the checks involved and how their information may be used.

Is TV On Finance Interest-Free?

Mad For It does not charge APR or interest on its credit agreements. However, interest-free credit should not be confused with risk-free borrowing.

You are still responsible for making the agreed payments. Paying late, missing payments or taking on repayments that become unaffordable could negatively affect your credit score and may affect your ability to shop with Mad For It again.

It can also be helpful to compare the total price of a television with prices available from other retailers. Looking at the full purchase price, rather than focusing only on the regular payment amount, can help you make a more informed decision.

What Are the Pros and Cons of Financing a TV?

There can be benefits to spreading the cost of a television. Instead of making one larger upfront payment, eligible customers can divide the purchase into scheduled payments. This could make budgeting easier for some households, depending on their circumstances.

Mad For It also offers credit agreements without APR or interest. For customers who qualify for a suitable payment plan and can comfortably afford the repayments, this may provide another way to purchase a television.

There are disadvantages and risks to consider as well. Credit creates an ongoing financial commitment, and repayments need to remain affordable throughout the agreement. Missing or making late payments could negatively affect your credit score.

Customers offered a 12-week unregulated agreement may also be required to make a number of pre-payments before their TV is dispatched. The number required can vary depending on the customer’s personal credit score and affordability assessment. This means choosing a payment plan does not necessarily mean receiving the television straight away.

Can I Apply With a Poor Credit History?

Having a poor or limited credit history does not necessarily prevent you from registering an account or applying for credit. However, acceptance should never be assumed or considered guaranteed.

Mad For It considers affordability, creditworthiness and other relevant circumstances when assessing customers. Your individual circumstances may affect whether credit is available, which agreement you may be offered and whether pre-payments are required.

If you are already finding it difficult to pay essential household costs or existing debts, taking on another credit commitment may not be suitable. Consider whether you need the television immediately and whether the repayments would remain manageable if your income fell or your household costs increased.

Alternatives to TV Finance

Using credit is not the only way to buy a television. Depending on your circumstances, alternatives could include saving towards the purchase, choosing a lower-priced television, buying a refurbished model or delaying the purchase until paying upfront is more manageable.

Each option has advantages and disadvantages. Comparing the total cost, how soon you need the television and what you can comfortably afford may help you make an informed decision.

If you are experiencing financial difficulty or are concerned about existing debts, consider seeking free and independent support before taking on additional credit. Organisations such as MoneyHelper, Citizens Advice and StepChange can provide information and guidance.

View TVs Available From Mad For It

If spreading the cost is an option you are considering, you can view TV On Finance options at Mad For It and review the televisions and payment information currently available.

Before committing to an agreement, check the product price, repayment schedule, type of credit agreement, any pre-payment requirements and expected dispatch arrangements. Credit is subject to status, and the agreement available will depend on factors including your creditworthiness and affordability assessment.

Taking time to understand the terms, risks and alternatives can help you decide whether purchasing a television using credit is appropriate for your circumstances.