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At Demon Tweeks, we understand that all our customers are not the same. They purchase different products, with different needs in mind and of course prefer to pay in different ways.
Because of this, we've put together a range of special finance deals that provide customers who prefer not to pay by credit or debit card at the time of order, with an easy and attractive alternative. Demon Tweek's online finance, is the convenient way to get your hands on the technology you want today without breaking the bank! In short, our online finance options give you the ability to spread the cost of the products you want NOW, over a time frame that suits your budget. Read on for more information, including specific examples. Note that Demon Tweek's online finance is for consumer (private, non business) customers only.
Which finance product is right for you?
Demon Tweeks currently offers two finance options (detailed in the table below), all of which are available on orders over £400. In summary, the key features of these options are:
This is a Buy Now Pay Later loan agreement. With the exception of a 10% deposit, you can purchase and enjoy the benefits of any eligible product or combination of products from our catalogue NOW (your total order value must be above £400 to be eligible), then make no further payments for 9 months.
Provided you pay the final balance in full before the 9 month BNPL period expires, you will pay no interest!
However, should you choose not to settle the outstanding balance in full before the 8 months BNPL period expires, you can simply continue to make your loan repayments on a monthly basis at the interest rate shown on the loan agreement.
APR 29.8% (variable)
However, provided you pay the outstanding balance in full before 9 months has expired no interest will be charged.
* Note: When calculating the 10% deposit, the amount you pay may be slightly more than 10% as the figure is adjusted to give rounded loan amounts. Please note: If your application is accepted an arrangement fee of £35 will be applied.
For customers who prefer to opt for a more traditional credit package, our low cost classic finance options offer the ideal solution.
36 equal monthly payments at 19.9% APR
Classic finance is a no nonsense, straight forward, interest bearing personal loan which allows you to spread the cost of your purchase over 36 equal monthly payments, at a low rate of 19.9% APR.
Example: spread the cost over 36 months
Here's a typical example based on a cash price of £1000
APR 19.9%
Frequently Asked Questions
There are a lot of questions surrounding online finance. To help our customers understand every aspect of their online finance agreement, we have answered some of the most commonly asked questions below.
Applying for Demon Tweeks finance
How quickly will my application be processed?
As long as your finance application is received by V12 between 9am and 8pm, Monday to Friday (excluding Bank and Public Holidays), 9am and 6pm on a Saturday, or 10am to 5pm on a Sunday, the majority of cases will be provided with a decision with minutes. If an application is made outside of these hours, a decision should be made the next working day. Once your application has been processed, a confirmation email will be sent.
My application has been approved, what happens next?
Within your confirmation email, there will be a link to a downloadable version of your online credit agreement. Once downloaded, you must read the agreement carefully, sign the document and return it to our finance company. Ordered products will not be sent until a completed and signed credit agreement is returned and received by our finance company. Upon receiving the signed agreement, all ordered goods will be shipped. Please note: upon request a printed out, hard copy of your agreement can be sent and all agreements are supported with a copy of our terms and conditions.
Do you use Credit Scoring? What is Credit Scoring?
Credit scoring is a process used by financial services companies to evaluate the credit risk of new applicants and will be used on your application for finance with Demon Tweeks. Your credit score is based upon points received for each answer given on the application form such as age, income and occupation. These points, together with information obtained from credit reference agencies, make up your credit score. This process allows companies to produce consistent decisions thus ensuring all our applicants are treated equally and fairly. Please note: credit scoring does not discriminate on the grounds of sex, race, religion, disability or colour.
My application has been declined, why?
As well as credit scoring, we also take into account a number of other factors including validation of certain application details, your identity, existing commitments and other information gained from credit reference agencies. Although we are unable to offer a specific reason why a credit agreement has been declined, the decision is predominantly based on one or a combination of the following factors: Your credit score (please note: every finance company will score you differently).
Adverse credit reference agency information.
You are considered to be overcommitted.
You are under the age of 18.
Your existing account performance with other lenders.
What kind of information do credit reference agencies hold?
Credit reference agencies hold various types of information, whether it is public information such as electoral roll, County Court Judgements and bankruptcies, or file information from other accounts you hold with them such as payment histories and outstanding balance amounts. Any request for credit, whether successful or not, will also be filed, although the result of the request is not recorded.
Can I obtain a copy of this information?
Yes. If you would like to view this information, you should send a cheque for £2, made payable to the relevant company, along with details of all the addresses you have lived at over the past 6 years, to either:
Consumer Help Desk Experian Limited, PO Box 8000, Nottingham, NG1 5GX
Or
Equifax Department 1E, PO Box 3001, Glasgow, G81 2DT
You can also find out more information about credit scoring, credit decision making and obtaining copies of your information by visiting the above companies’ websites at www.experian.co.uk and www.equifax.co.uk. Upon receiving a copy of your information, if you believe the information to be incorrect, you can ask the agency to amend it.
Who is my finance agreement actually with?
Demon Tweeks have sourced the best value finance products from a range of excellent providers renowned for their customer focus. Therefore, you can shop with peace of mind safe in the knowledge your finance agreement will be with on the UK’s leading finance houses, V12 Finance.
If my application is denied, can I re-apply?
Yes. We realise circumstances change and being refused for credit in the past does not mean future applications will be unsuccessful. We do however advise you leave at least 6 months before applying again.
Is everyone eligible for Demon Tweeks Finance?
In order to be eligible for Demon Tweeks finance, you must be:
Over the age of 18
Work at least 16 hours a week or be retired with an income
A resident of the United Kingdom and have lived in the UK for the last 3 years or more
Unfortunately, we cannot accept applications or offer online finance to residents of Eire. Homemakers are not excluded but must submit employment details of their spouse in order for your application to be considered.
My Order
Can I cancel my finance order?
Yes, but you will be liable for any handling charges as detailed in our returns policy on special-order items, which will be dependent on the type of goods.(Link to http://www.demon-tweeks.co.uk/content/default.asp?category_id=45) There is no “Cooling Off” period, once your finance agreement has been accepted you enter into contract with V12 Finance.
Can I make an amendment to my order?
Once an order has been placed no amendments can be made. If you need to amend a completed order, you will need to cancel the initial order and a new order and finance agreement will need to be completed.
Can I request delivery to an alternative address?
Unfortunately, to avoid fraudulent applications, we are unable to deliver goods to an alternative address. All goods will be shipped to the home address of the applicant.
What if I have to return a product?
All returns are subject to Demon Tweeks’ standard returns policy. Details of our Returns Policy can be found here. (Link to http://www.demon-tweeks.co.uk/content/default.asp?category_id=45)
Contact information
Who do I contact in regards to my Demon Tweeks finance?
All questions regarding your online finance can be directed to the V12 Finance team on: 0844 844 4700 or operations@v12finance.com. For all information regarding order tracking or any questions relating to your order, please contact the Demon Tweeks Customer Support team on 01978 663000
Copyright © 2009 Demon Tweeks. All rights reserved.
