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2 Dec 2020

A refreshed suite of posters developed to support retailers in encouraging shoppers to wear face coverings using behavioural science techniques. The posters are available free of charge for...

2 Dec 2020

Independent bicycle retailers in Bradford, Ipswitch and York have all been commended in this year's search for the Best Small Shop of 2020!

27 Nov 2020

Recent events have once again highlighted the growing concerns centred on the UK's growing use of Buy Now Pay Later (BNPL) services.

26 Nov 2020

A family run, independent, home and gift shop in Worcester has been named as Britain's Best Small Shop of 2020.

25 Nov 2020

The Chancellor presented his Spending Review to Parliament today settingout the Government's departmental spending plans for the year ahead andresponse to Coronavirus (Covid-19).

24 Nov 2020

On Monday ACT members were invited to join Maybe* for a free webinar to learn how to optimise social media use.

19 Nov 2020

IRC member enters debate to seek an extension to the moratorium onevictions within the Coronavirus Act 2020. Can you help us...

19 Nov 2020

Indie Retail are delighted to announce a partnership between themselves and the app-controlled window display sign TraffikFlo, enabling more shops to simply and effectively manage social...

18 Nov 2020

ACT members are invited to join Maybe* on Monday 23rd November at 8pm for a webinar to learn how you can optimise your social media use.

17 Nov 2020

V12 Retail Finance have made changes to their application form to improve the customer journey and enable social distancing.

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Your route to the right finance provider

Posted on in Business News , Cycles News

Buy now pay laterFollowing on from the ACT mini-series, Choosing the right finance provider, avoid the pitfalls, the Association of Cycle Traders have created an infographic to make it as clear as possible what to look out for when choosing the right finance provider for you.

We know that more customers are spending using retail finance as the latest figures from the Finance and Leasing Association (FLA) identify that UK consumers now spend nearly £800 million every month on goods and services using retail credit.

The cycle retail finance landscape is currently experiencing many changes; providers consolidating, a lack of funds meaning providers have had to close and providers withdrawing from the market. Some of these scenarios have left cycle businesses high and dry.

This issue is being increasingly reported on by the media, with reports of Buy Now Pay Later services encouraging snap buys and causing consumers to become financially over-committed, these companies have also been accused of misleading customers and negatively affecting credit scores.

To avoid these pitfalls the ACT have provided a number of warning signs to look out for and steps to follow to ensure that you and your customers are being looked after during the retail finance process, as well as getting the best value for money.

Ride it away, Retail Finance

If you have any questions about the points above, or you would like more information about Ride it away retail finance contact the ACT or visit the website.

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