Plumbworld Introduces Long Anticipated Finance Options
Many people favour the luxury of being able to pay for something via payments spread out over a specific amount of months. Plumbworld.co.uk has started catering for this need by introducing a finance option in the checkout phase; however, certain conditions have to be met.
Evesham, Worcestershire (PRWEB UK) 8 July 2012
Like most online retailers now, Plumbworld has an agreement with a finance company which allows them to sell products on a pay-monthly basis. This option will be ideal for many of the customers that visit the Plumbworld site due to the high value products such as bathroom suites which are commonly sold.
Various studies have been carried out in the past based around finance plans and one-off payments. The result has usually been a 50/50 split with half the people being in favour of paying monthly for their purchases and the other half preferring getting any expenses out of the way and doing it in one bulk payment.
Obviously, each individual will have a different outlook on finance options. Many think that there’s no point in paying 10% more than the product is worth over a 3 year period; whilst others like to manage their outgoings with small monthly payments. It goes without saying that not everyone can afford to drop £900 on a contemporary bathroom suite... This is where having a finance option can be extremely useful and in some cases it makes the difference between someone buying and walking away.
Buying on finance is only available to customers whose orders are in excess of £350. More information on the finance specifics and interest rates can be found on the Plumbworld website in the finance FAQ’s section.
Richard Aldridge, IT Director at Plumbworld commented on the implementation of the new finance system: “Finance has been in the pipeline for quite a while now, but adding PayPal and Amazon as payment methods took priority over this. Recently, we’ve had the time to develop the finance option after discussions with our finance company; hopefully this encourages the customers that can’t afford one-off big payments to order through Plumbworld.”
Customers have the option to choose between two finance options;
- Interest bearing credit. This option requires an initial deposit and a following 48 monthly payments.
- Buy Now Pay Later. This option doesn’t require a deposit or payment from the customer for the first year. Then they’re given the option to pay off the original sum in full or pay it off over 48 monthly instalments.
Plumbworld currently operates on the new, rebranded and ever-expanding Online Home Retail Network which at present includes around 50 websites which sell everything from circular saws and work benches to BBQ’s and wood burning stoves. Online Home Retail Limited originally started life as Plumbworld Ltd back in 1999 and since then it has been bought by the Grafton Group PLC in 2006 and received a major rebrand in 2012. The business now employs 60 people in its purpose built warehouse/offices and has a total turnover nearing £25 million per year.
For the original version on PRWeb visit: http://uk.prweb.com/releases/prwebPlumbworld/Pay-On-Finance/prweb9675488.htm