Find Out More About Snap! Finance Right Here

Lifestyle & Mobility have produced a second part of our Snap Finance FAQs. After all, buying a mobility product, living aid, home furnishings, and more, on credit is a big decision. Firstly, it’s worth us pointing out that it is not only mobility scooters which you can get on finance with Lifestyle & Mobility. A whole range of the products which we sell for £200 or more are eligible for finance.

How Do I Know Whether a Product is Eligible for Finance?

Snap’s system works by providing you with a finance quote that isn’t linked to a specific online product. So the only hard-and-fast restriction is that no purchase below a total value of £250 (excluding VAT, in cases where Disability VAT Exemption would apply) is eligible for Snap Finance.

Can You Explain a Bit More About Snap’s Credit Check?

The initial check, to see if you are eligible for a loan, is what is called a soft credit check. That means that checking whether you qualify for a loan with Snap Finance will not affect your credit rating. It is only if you decide to actually take out the loan that a “hard credit check” will be carried out. This is the type of credit check which can affect your credit score. Nevertheless, there is no obligation on you to take out a loan. This is regardless of whether you are found to be eligible or not. So there is no risk to your credit score from simply checking your loan eligibility.

What Sort of Interest Will I Have to Pay?

To help answer this important question, Snap provide a representative example on their own website:

Representative Example: Cost of Goods £2250, Deposit £50, Amount of Credit £2200, Annual Fixed Interest Rate 26.47%, Monthly Payment £119.68, Term 24 months, Total Payable £2922.32, Representative 29.9% APR

For more information on any of the above, or, if there is anything else you would like to know, please contact us on: sales@lifestyleandmobility.co.uk or 02081 597070