Consumer Finance including Layby

This is funding provided in store to entice you to buy products and services that you couldn’t otherwise afford.  There may be different forms of finance, new forms of layby, hire purchase or loans, but either way they are generally provided at either high rates because of the nature of the funding being provided, or very low rates, sometimes even at 0% interest.  

The store gets paid not only the sale price of the goods and services (which might be higher than a cash price) but will also get a kick back from the finance provider. So when you believe you may be getting a bargain, in reality you may well be paying more than you would if could afford to make a cash payment.

As with all debt, you really must consider whether you NEED to buy the item in question, and by doing so taking on more debt, or whether it really is a luxury you can’t afford.