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2 Mar 2022

The FCA was concerned there was a potential risk of harm to consumers as a result of the way Clearpay, Klarna, Laybuy and Openpay's T&Css were drafted.

17 Feb 2022

Buy Now, Pay Later purchases are set to appear on credit reports for the first time, meaning lenders will be able to see the borrowing

23 Nov 2021

Improperly regulatedBuy Now Pay Later services aren't just growing in popularity among consumers, they're also proving to be a hit with criminals.

8 Nov 2021

As trendy Buy Now Pay Later (BNPL) services continue to grow in popularity across the UK, a charity has warned that using these non-regulated services can be like "slipping into quicksand"....

20 Sep 2020

The ACT's new infographic that helps you to know what to look out for when choosing the right finance provider

12 Nov 2019

A recent story published on BBC news shows how a popular finance provider misled a 21-year-old student which ended in...

24 Oct 2019

Halfords have recently changed finance provider resulting in, what many might consider, undesirable implications for UK consumers

3 Apr 2019

Following an increase of incoming calls querying finance providers in the cycles market, the ACT are publishing a mini-series to answer the trade's questions.

26 Mar 2019

Following an increase of incoming calls querying finance providers in the cycles market, the ACT are publishing a mini-series to answer the trade's questions.

20 Mar 2019

Following an increase of incoming calls querying finance providers in the cycles market, the ACT are publishing a mini-series to answer the trade's questions

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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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