Blackcircles.com introduces buy now, pay later tyre finance
Buying tyres on tick is nothing new across the pond, but a newly-announced deferred finance scheme from Blackcircles.com is said to be a UK first. The online tyre retailer says its ‘buy now pay later’ offering will enable motorists “feeling the pinch in the lead up to Christmas” to avoid the risk of driving on worn, potentially dangerous tyres. Tyres can be obtained now, with payments deferred for six months.
Blackcircles.com notes that the Highway Agency recorded more than 11,000 tyre-related incidents on English roads and motorways last winter – perhaps, the company opines, as “replacing worn tyres may not seem like a top priority” at this time of year. According to one estimate, 37 per cent of cars on UK roads today are fitted with tyres that are illegal and potentially dangerous because the tyre tread does not meet the UK safety limits.
To take advantage of deferred finance, Blackcircles.com customers simply need to choose the finance option at the ‘basket’ section of their online ordering session. If selected, no deposit is required and there is nothing to pay for the first six months. Once this period is up, customers can either clear their balance and pay a settlement fee of £30, or pay the balance over 12 months with 29.8% APR, or over six months at 19.9% APR. The finance option is available for purchases totalling at least £250.
When talking about this new payment option, Blackcircles.com founder and managing director Mike said: “We have launched this finance offer as we understand how expensive this time of year can be and for many of our customers an unexpected bill can make or break their Christmas celebrations.
“The reality is that driving on old worn tyres is not only illegal but potentially dangerous therefore replacing your tyres shouldn’t be something that you have to put off – hopefully this offer will allow customers to drive safely and enjoy Christmas.”