Credit Info
We are now able to offer easy monthly payments for all our products just add what you need to basket and at checkout click on apply for monthly payment option instead of credit card payment
Please Note: When processing a credit application, the files of a registered credit reference agency will be consulted, who may record the search.
| Personal Account Calculator Tables |
Minimum Monthly Payment £10
Customer can spend up to 20 times their monthly instalments
|
Minimum Monthly Payment
|
Cost of Goods or Balance After Deposit
|
Minimum Monthly Payment
|
Cost of Goods or Balance After Deposit
|
10
|
75 - 200
|
35
|
681 - 700
|
11
|
201 - 220
|
36
|
701 - 720
|
12
|
221 - 240
|
37
|
721 - 740
|
13
|
241 - 260
|
38
|
741 - 760
|
14
|
261 - 280
|
39
|
761 - 780
|
15
|
281 - 300
|
40
|
781 - 800
|
16
|
301 - 320
|
41
|
801 - 820
|
17
|
321 - 340
|
42
|
821 - 840
|
18
|
341 - 360
|
43
|
841 - 860
|
19
|
361 - 380
|
44
|
861 - 880
|
20
|
381 - 400
|
45
|
881 - 900
|
21
|
401 - 420
|
46
|
901 - 920
|
22
|
421 - 440
|
47
|
921 - 940
|
23
|
441 - 460
|
48
|
941 - 960
|
24
|
461 - 480
|
49
|
961 - 980
|
25
|
481 - 500
|
50
|
981 - 1000
|
26
|
501 - 520
|
51
|
1001 - 1020
|
27
|
521 - 540
|
52
|
1021 - 1040
|
28
|
541 - 560
|
53
|
1041 - 1060
|
29
|
561 - 580
|
54
|
1061 - 1080
|
30
|
581 - 600
|
55
|
1081 - 1100
|
31
|
601 - 620
|
56
|
1101 - 1120
|
32
|
621 - 640
|
57
|
1121 - 1140
|
33
|
641 - 660
|
58
|
1141 - 1160
|
34
|
661 - 680
|
59
|
1161 - 1180
|
| |
|
60
|
1181 - 1200
|
Personal Account
1. What is a personal account?
It's a budget account, i.e. the customer pays a minimum monthly repayment. If however the customer pays more than the minimum repayment this will reduce the amount of interest he/she will pay and the length of time taken to clear account.
2. How much does the customer pay today?
No deposit required.
3. How is interest charged on an account?
Interest is calculated on the daily balance outstanding from the date of purchase. This means the customer can clear his / her account at any time with no penalty for early settlement.
4. Interest Rates
| |
Monthly
|
APR
|
| Direct Debit |
2.2%
|
29.8%
|
| Payment Book |
2.3%
|
31.4%
|
Explaining interest rates in percentage and APR's can be confusing. An easier way to explain interest rates to your customer is in £'s and pence, e.g. the interest works out at only £2.20 per month on every £100 of your balance.
5. How does a customer make payments?
Customers have a choice of payment methods-
a) Direct Debit - (Minimum Payment only).
b) Payment Book - Sent to all account holders, including those paying by direct debit. Payments can be made in any High Street bank or posted direct to Clydesdale Financial Services Ltd.
6. Is payment protection Insurance Available?
No. Due to new Government Rules we can no longer offer Payment Protection.
7. How often does the customer receive a statement?
The customer will receive an initial statement confirming details of their first purchase, thereafter regular statements will be sent.
8. How much has the customer available to spend on his/her account?
The customers statement not only contains details of purchases and charges but more importantly clearly shows at the top the statement the amount they still have available to spend in your store at the statement date.
Licensed credit broker.
Written details on request - subject to status.
Click here to download a PDF Credit Application Form (40k). Once completed please return by fax to 01292 618686 or post to Motorspeed, 35 Burns Statue Square, Ayr, KA7 1SZ
To view the PDF Credit Application form you will require an installed copy of Adobe Acrobat Reader.
If you do not have Acrobat Reader, click here to download a free copy.
