Buy Now Pay Later advice

[Zjuggernaut]

Basically I'm searching around for a new laptop and I stumbled upon Littlewoods doing a buy now pay later option.

As an example, here are the options for a Sony Vaio

£4.90 per Week for 156 Weeks (34.9% APR)
£6.45 per Week for 104 Weeks (34.9% APR)
£9.60 per Week for 52 Weeks (interest free)
£24.95 per Week for 20 Weeks (interest free)

Out of those options, the 20 week one seems the most attractive. Mainly because it's affordable
for me and 5 months is a fair amount of time to pay it back. I don't want the 156 week one, mainly because of the interest rate and it's too long to have credit in my opinion. Can anyone give some advice for this? What option to go for etc? I'm just a little worried about it.

 

[Quistrix]

The 4th option. If you can afford that amount of money every week then I say go for it. Sure, the first option is a lot cheaper but it's a longer commitment. You're safer going with the 4th one. Plus, interest is a b*tch.

 

[Marcodian Elite]

The fourth option is the best, personally dont like taking on debt but sometimes needs must and all that, if you can afford the £25 pound option I'd say its your best bet, however if you dont have £25 per week to spare the 3rd option is just as attractive, you may be paying it off for a longer length of time but its still interest free and doesnt leave you strapped for cash.

 

[Dark Drakan]

Ive never purchased anything with a pay later policy but the 4th option would be the best. Companies like that tend to sting you with the interest rates on repayments and if for some reason you miss any it goes up hugely. Personally I prefer to save up and buy things outright.

 

[Angel]

Never ever ever ever ever go with ANYTHING that offers you sweet low payments but with interest. Seriously. If you can afford to go with option 4 then do it. If not, you're looking at paying back almost £200 more than the cost of the laptop with option 4.

Credit is an evil thing that's only handy if you've got the money to pay it back before the interest rates kick in...