Eligibility Requirements:
1. Age: Applicants must be at least 18 years old to qualify for financing.
2. Credit Score: A fair to good credit score is typically required. This means your credit history should show a responsible track record of borrowing and repaying debts. Each financing provider, such as Klarna or Payl8r, may have specific credit score thresholds.
3. Income Threshold: You should have a steady, verifiable income to ensure you can meet the repayment terms. The specific income requirements can vary by provider, but the key is demonstrating the ability to repay the loan.
4. Residency Status: Applicants must be residents of the United Kingdom. This helps the financing companies manage their risk and ensures they can enforce the repayment agreements.
5. Bank Account: You need to have a UK bank account in good standing. This account will be used for direct debit payments for the financing plan.