Shop and pay later payment method.

ronz91 said:
sorry to revive an old thread but do payflex, mobicred etc let you pay off the outstanding amount before the agreed period? also does this save you in the way of interest and fees?
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Payflex lets you pay the amount off at any time, online on their portal with a click of a few buttons - no effect on fees, as there are none.
 
ld13 said:
Payflex lets you pay the amount off at any time, online on their portal with a click of a few buttons - no effect on fees, as there are none.
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looked at the site now, that 6 week thing is barely helpful though. basically 2 months, half and half
 
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yeah I wondered about IC's coz I hav never seen anything on their site but I confirmed with the manager that it was legit
 
lol do you mean you could "rent" a big screen TV from Game?
 
ronz91 said:
lol do you mean you could "rent" a big screen TV from Game?
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The product isn't yours until you have paid. A Lay-By essentially places the onus on the seller to 'store' your product until you have paid the total amount as agreed to within the terms and conditions. They aren't allowed to sell 'booked' items, they have to keep it until it is paid.

I believe Pepkor have pioneered it in SA with success, but many entities have their own rules.

Here is a PDF explaining it in detail,

https://www.westerncape.gov.za/other/2010/9/layby.pdf (PDF)
 
ronz91 said:
wow that is totally useless
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No, there is no interest and many people don't have the money to be in debt or have the cash on hand to acquire goods. Lay-By bridged this, some companies have innovated Lay-By, especially those in clothing retail.

Lay-By is based on the Consumer Acts, you won't be indebted. Unless you are legally abusive.
 
Fulcrum29 said:
No, there is no interest and many people don't have the money to be in debt or have the cash on hand to acquire goods. Lay-By bridged this, some companies have innovated Lay-By, especially those in clothing retail.

Lay-By is based on the Consumer Acts, you won't be indebted. Unless you are legally abusive.
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makes more sense when for clothing where you are worried about getting your size etc tech products less so
 
So with lay-by, if you change your mind or find a cheaper product elsewhere you can just stop paying and get a refund.
 
abzo said:
So with lay-by, if you change your mind or find a cheaper product elsewhere you can just stop paying and get a refund.
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Something like that, yes, everyone have their own terms. Like I said, Lay-By is in line with the Consumer Acts, the CPA is strong with this contract.
 
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