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Finance Options at Donaghy Bros

We're often asked if we provide finance and if you're based in the UK then yes we’ve got a number of simple payment options to help you spread the cost and make big purchases more manageable....

 

All you need to do is:

· Spend a minimum £225 or above

· Place a 10% deposit

· Choose how many months you wish to spread the cost over - up to 48 months

Credit is subject to status and affordability. Terms & Conditions Apply. Donaghy Bros are a credit broker and are Authorised and Regulated by the Financial Conduct Authority.

Credit is provided by Hitachi Personal Finance, a division of Hitachi Capital (UK) PLC Authorised and Regulated by the Financial Conduct Authority.

 

How do I choose to pay by Finance?

If you are shopping in store just let a sales consultant know you wish to avail of finance and they will discuss all options with you.

On the website simply select the "Pay by Finance option" on the product page or within your basket to automatically calculate your deposit and monthly payments. Once you have paid your deposit, you will be redirected to the Secure Finance Application Form and get an instant decision.

 

Is it a complicated process?

The whole process only takes a few minutes and is simple and secure. Once your finance application is approved, you will receive an e-mail advising you of how to download the finance agreement. Please read this carefully checking that all the details are correct, then either e-sign the agreement, if offered, or print and sign the finance agreement twice. Post the document to the address shown on the finance agreement. Following receipt of your finance agreement and a few additional checks, your goods will be dispatched.

 

Once my application is approved, what happens next?

Within minutes of your application being approved, you will be presented with the option to sign your credit agreement. If you are offered the ability to e-sign your credit agreement and choose to do so, a PDF of your credit agreement will be displayed on screen. You should read the credit agreement carefully before clicking all the relevant sections agreeing to its terms. Once you have agreed to the terms of the credit agreement Donaghy Bros will be notified and you need do nothing more. If you are presented with the ability to print and return your credit agreement you should print the PDF agreement, read it carefully and then sign the document following the instructions on the covering letter. This signed document should then be posted to the address shown on the covering letter of the credit agreement. Note that products will not be allocated to your order until your completed and signed agreement is returned and received by Hitachi Capital. Shipment of your goods will follow soon after your agreement has been returned to our finance company.

 

Who is eligible to apply for online finance?

To apply for finance, you must be over the age of 18, work at least 16 hours a week, or be retired with an income. You must also be a resident of the United Kingdom and have lived in the UK for the last 12 months or more. Unfortunately, we are unable to offer online finance to residents of Ireland. Homemakers aren't excluded from applying under their own names; however we will require the employment details of your spouse in order to process your application.

 

When do my repayments start?

Your monthly repayments will begin one month after your purchase has been delivered.

Alternatively, you can also ‘buy now and pay later’ with payments deferred for 6 months after signing your finance agreement.

Our simple buy now pay later finance options allow you to spread the cost of your purchase over as many as 48 months. An early settlement fee of £29.00 applies.

 

Are there any arrangement fees or hidden extras for credit?

No. There are no arrangement fees or hidden extras.

 

How much will I end up paying via a finance agreement?

The table below shows you how much monthly repayments will be based on the total order value.

 

Order value Term (Months) Defer Terms (Months)  Deposit (10%) Monthly Payments
£300  48 £30 £8.13
£500 48 £50 £48

 

Representative Example:

  • Cash Price £1,000.00
  • Deposit £100.00
  • Loan Amount £900.00
  • 16.9% APR representative
  • Interest rate 16.9% fixed
  • 48 Monthly repayments of £27.09
  • Total term of loan agreement 48 months, with the first payment deferred for 6 months
  • Total charge for credit £400.32
  • Total amount payable £1400.32
  • £29 early settlement fee due on all buy now pay later options

 

Interest Bearing Finance Example:

Our simple finance options allow you to spread the cost of your purchase over 24, 36 or 48 months at 19.9% APR. The table below shows you how much monthly repayments will be based on the total order value.

Order value Term (Months)  Deposit (10%)  Monthly Payments
£350  24 £35  £15.77
£700 24 £70 £31.54
£1200  36 £120  £39.20
£2000 36 £200  £65.34

 

Representative Example:

  • Cash Price £700
  • Deposit £70
  • Loan amount £630
  • 19.9% APR representative
  • Interest rate 10.23% fixed
  • 36 Monthly repayments of £22.87
  • Total term of loan agreement 36 months
  • Total Charge for credit £193.28
  • Total Amount payable £893.32

 

Will you credit score me and if so, what does this mean?

Credit scoring is the process used by financial services companies to evaluate the credit risk of new applicants. This technique will be applied to your application for online finance. Credit scoring works by awarding points for each answer given on the application form such as age, income and occupation, together with information obtained from credit reference agencies. This information allows us to produce consistent decisions, ensuring all our applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.

 

If you decline my application, what is the reason?

In addition to credit scoring, we also take into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though we are unable to provide you with a main reason for decline of your application, it is usually based on one, or a combination of the following

 

Your credit score (note that every finance company will score you differently):

  • Adverse credit reference agency information
  • You are considered to be overcommitted
  • You are aged under 18
  • Your existing account performance with other lenders

 

What type of information do credit reference agencies hold about me?

Some of the information is public information, for example electoral roll, County Court Judgements and bankruptcies. Other lenders may also file information about accounts you hold with them for instance this could include your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.

 

How do I obtain a copy of my credit score formation?

You should send a cheque for £2.00 made payable to the relevant company, together with details of all addresses at which you have lived over the last 6 years:

  • Consumer Help Desk Experian Limited PO Box 8000 Nottingham NG1 5GX
  • Equifax Ltd., Credit File Advice Centre. PO Box 1140. Bradford, BD1 5US
  • TransUnion International UK Limited, Consumer Service, PO Box 491, Leeds, LS3 1WZ

 

If my application is not successful, can I re-apply?

Yes. We acknowledge that your circumstances change and just because we have refused a previous application, it does not mean that we'll automatically turn down a further request. We do suggest however, that you leave at least 6 months between applications.