Buying a number plate has always been a luxury reserved for the rich, however that needn’t be the case anymore. Private number plates are a specialist item, but they don’t always have to come with a large price tag, and these days there are several options available making private plates a lot more affordable. If you’re looking to buy a private plate, but you don’t have the money to buy one outright, there are finance options available so you can spread the costs and keep the plate affordable, whilst still enjoying it on your vehicle.
To help spread the cost of buying a private number plate, Klarna are a Swedish payment service that take end-to-end responsibility for your payment. This means that Klarna will pay the private plate company for the number plate, and you can pay Klarna back over varied different periods of time. They are used by over 100,000 online stores and 60 million plus consumers use them on a regular basis to handle payments safely and effectively.
Buying a private number plate on finance with Klarna means that you can spread the cost over 12, 24,36 or 48 months, depending on which suits you financially. And applying is simple, once you’ve decided the private plate you want to buy, you simply apply for finance where you will be redirected to the Klarna website to complete the application.
Like any form of finance, credit checks have to be carried out in order to confirm that you are eligible for the application. There is a certain criterion you must follow in order to be able to apply for the finance:
- You must be over 18 years of age
- You have to be in full time employment, unless you’re retired or living with someone in full time employment
- You must be a UK resident with 3 years address history
- You must have a UK bank account
Whether you have the money or not, there are several reasons for buying a private number plate on finance:
1. If you don’t need to spend at once then why?
Even if you do have the money to pay for the number plate outright, why not pay in monthly payments and save the large chunk of money for something else, or in-case of an emergency. There are payment options that are 0% interest, meaning you won’t be paying excessive amounts more with heavy interest. Paying back monthly means you have the savings put away for something more important that cannot be paid on finance.
2. Boost your credit score
If you’re looking for a way to improve your credit score then this might help. Often people worry that buying things on finance will be detrimental to your credit score. However, if you are able to pay the money back on time each month then this can actually have a positive effect. It will show lenders that you are trustworthy and able to make payments on time without trouble.
3. Spread the cost
If you aren’t able to pay for a number plate all at once, but you are desperate for one then finance is definitely your best option. As we said earlier, you can spread the cost over several months to make it affordable for you. There are also different plans available to suit your financial needs, if you have kept some money aside then it Is possible to put a deposit down and get rid of a bulk of the payment.