What we offer
Our products have been designed with you in mind.
Retail finance, also known as consumer finance, gives you flexible ways to pay for purchases by spreading the cost. Finance is usually available at the point you make payment, either built into a retailer’s checkout process or offered when you purchase in-store.
Options can vary in term (the term is the number of months you spread the payment over), and interest rate, with the most popular products tending to be interest free.
Once your finance is in place, you can manage it anytime, anywhere, with our app, V12 AppToPay. The app also contains our retailer directory, which lets you explore places to shop both in-store and online.
Discover your favourite specialist stores, read more about the products we offer, and filter based on finance options. The choice is yours!
What do V12 Retail Finance offer?
V12 interest free finance:
Interest free finance allows you to make purchases without incurring interest charges over a fixed term. This means you can buy and pay in instalments without any interest.
- Standard terms from 3 – 60 months
- Available on purchases from £100 to £50,000 (dependent on the retailer)
Example:
| Cash price: | £600.00 |
| Amount of deposit: | £0.00 |
| Total amount of credit: | £600.00 |
| Loan term: | 12 months |
| Annual rate of interest (Fixed): | 0% |
| Monthly repayment: | £50.00 |
| Representative APR%: | 0% |
| Total cost of credit: | £0.00 |
| Total amount payable: | £600.00 |
Approval for finance is subject to age and status.
Interest free finance with a term of 12 months or less:
This is an unregulated credit product, which means you will not be offered the protections of the regulatory system as regulated by the Financial Conduct Authority, including the right to take a complaint to the Financial Ombudsman Service.
Interest free finance with a term of above 12 months:
This is a regulated credit product, which means you will be offered the protections of the regulatory system as regulated by the Financial Conduct Authority, including the right to take a complaint to the Financial Ombudsman Service.
Financial flexibility
Interest free finance can be helpful for anyone looking to spread the cost. It offers financial flexibility and can allow you to budget more effectively. Purchase what you want now and make manageable monthly repayments.
V12 interest bearing finance:
Interest bearing finance works like a traditional loan. You make a purchase, and you pay back the amount you borrow plus interest, over a fixed term.
- Standard terms from 12 – 120 months
- Available on purchases from £250 to £50,000 (dependent on the retailer)
- APRs from 4.9%
Example:
| Cash price: | £2000.00 |
| Amount of deposit: | £120.00 |
| Total amount of credit: | £1880.00 |
| Loan term: | 36 months |
| Annual rate of interest (Fixed): | 10.22% |
| Monthly repayment: | £68.24 |
| Representative APR%: | 19.9% |
| Total cost of credit: | £576.64 |
| Total amount payable: | £2576.64 |
Approval for finance is subject to age and status.
Interest bearing finance is a regulated credit product, which means you will be offered the protections of the regulatory system as regulated by the Financial Conduct Authority, including the right to take a complaint to the Financial Ombudsman Service.
Giving you options
Interest bearing finance is another option when spreading the cost of purchases. Like a traditional loan with a fixed interest rate, it’s generally used for larger purchases and offers fixed monthly repayments, so you know how much you're paying and when.
Buy now pay later (also known as deferred payment credit)
Buy now, pay later, also called deferred payment credit is a way to purchase now and pay later with a set deferred payment term of 6, 9 or 12 months.
You can pay in part or in full, free of interest, during your deferred payment term. At the end of the deferred payment term, if you have not paid in full you can pay monthly by direct debit and spread the cost further.
This is an interest bearing loan, however, if you repay in full during the deferred period, the interest will be rebated and you will pay only the loan amount plus any settlement fee*. If you part-pay during the deferred period then this will reduce the amount of interest added to the loan.
V12 Buy now pay later:
- Standard terms up to 60 months
- Available on purchases from £250 to £15,000
- APRs from 9.9%
- Make no repayments for 6, 9 or 12 months
Example:
| Cash price: | £2000.00 |
| Amount of deposit: | £100.00 |
| Total amount of credit: | £1900.00 |
| Loan term: | 48 months |
| Annual rate of interest (Fixed): | 6.43% |
| Monthly repayment: | 36 x £66.35 |
| Representative APR%: | 9.9% |
| Total cost of credit: | £488.60 |
| Total amount payable: | £2,488.60 |
Approval for finance is subject to age and status.
*The cost of any settlement fee will be outlined in your agreement with your retailer. Please read all agreements thoroughly before taking out finance.
This is a regulated credit product, which means you will be offered the protections of the regulatory system as regulated by the Financial Conduct Authority, including the right to take a complaint to the Financial Ombudsman Service.
Celebrating choice
An option that allows you to make a purchase immediately and pay nothing for a fixed term. This type of finance can make it easier to budget for unexpected purchases and to budget more effectively.
Not all types of credit and options listed are available at all retailers who partner with us.
When considering a purchase, discuss which finance options are available with the retailer, as we are unable to provide this information.
Please be aware that our retailers offer both regulated and unregulated finance. Not all products or services offered by V12 Retail Finance Limited, are regulated and therefore do not offer the protections of the regulatory system.
FAQs
Yes, there are. We have listed some of the more common fees below. Always refer to your agreement and supporting documents provided when you take out any finance for full details.
- Returned Direct Debit or cheque fee - £8.00
- Late payment fee - £12.00
- Arrangement fee – amounts can differ and are based on the finance applied for. The amount is ordinarily a percentage of the loan value and applies mostly to season tickets and memberships
- Settlement fee – Applicable on some Buy Now Pay Later finance, the amount can vary (dependent on the retailer)
We do not accept credit cards for standard monthly payments.
We can accept a credit card payment when you are asked to pay a deposit during your application.
We don’t allow guarantors. To be approved for finance with us we must be satisfied that you can afford the repayments.
No, at V12 Retail Finance, we do not offer variable interest. This means your interest rate remains the same during the life of your loan. You will know how much interest you’ll pay, and this won’t change. Your monthly payments will remain the same until your finance is paid off.
APR or ‘Annual Percentage Rate’ is the rate used to help you understand the annual cost of borrowing. It takes into account interest rates and any additional charges associated with the product chosen. We will tell you the APR before you sign a credit agreement.
If a finance product is interest-bearing, or if it is interest free and repayable with a term above 12 months, then it is regulated finance. Regulated Finance means you are covered under the Consumer Credit Act 1974 and are offered the protections of the regulatory system as regulated by the Financial Conduct Authority, including the right to take a complaint to the Financial Ombudsman Service.
Unregulated finance is interest-free and repayable with a term of 12 months or less, and you are not offered protection under the Consumer Credit Act 1974 or the regulatory system as regulated by the Financial Conduct Authority, including the right to take a complaint to the Financial Ombudsman Service.
The UK Consumer Credit Act 1974 is a significant piece of legislation that regulates consumer credit, protecting consumers and outlining how credit agreements should be conducted. It includes provisions for licensing of credit businesses, controls on credit advertising, and rights and protections for borrowers.
The Consumer Credit Act 1974 offers protections such as the right to a cooling-off period, safeguards against unfair lending practices, and provisions for credit cost transparency.
This means that your first payment is delayed, in our case by either 6, 9 or 12 months. It can also be called Buy Now Pay Later.
V12 Retail Finance offers credit products. Credit is subject to status and is only available to UK residents aged 18 and over. Minimum and maximum spend applies. Failure to maintain payments may mean charges are incurred, more is repaid than borrowed and it can make future borrowing more difficult.
V12 Retail Finance Limited act as a credit broker, not a lender, and introduces customers to Secure Trust Bank PLC, its parent company. If applications for credit are successful, V12 Retail Finance Limited will receive a commission, the amount will vary depending on the amount of credit taken out. V12 Retail Finance Limited, Registered in England and Wales 4585692. Authorised and regulated by the Financial Conduct Authority. Registration number 679653. Not all products or services offered by V12 Retail Finance Limited, are regulated and therefore do not offer the protections of the regulatory system. Correspondence address: 25-26 Neptune Court, Vanguard Way, Cardiff CF24 5PJ. Registered Office: Yorke House, Arleston Way, Solihull, B90 4LH.