Looking at the different options for getting a new stairlift? There are a multitude of ways to pay for a stairlift including grants, finance options and even renting stairlifts if you don’t want to own the chair long-term. All of these are designed to make the process simple and accessible so you can get mobility back in your home.
Can I get a stairlift on finance?
Obtaining stairlifts on finance can be a quick alternative way to acquire a stairlift. Once the agreed payment plan is complete you own the stairlift.
Hire purchase (HP) is a specific type of lending available to customers in the UK. It is different from other types of borrowing because you don’t own the goods, in this case your stairlift, until you have paid the loan in full. Under an HP agreement, you hire the goods and then pay an agreed amount by instalments. While you are still making payments, you are not allowed to sell or dispose of the goods without the lender’s permission. If you do, you will be committing a criminal offence and could face prosecution.
Another thing to consider is the lender may be able to repossess (take back) the Stairlift if you fall behind with payments.
Many companies offer stairlifts on finance payment plans to purchase mobility products aids such as chairlifts. One would need to carry out some due diligence as would be required no matter what the loan was being used for and always read the small print.
HP hire purchase agreements can be complex and terms and conditions apply on some offer extended agreements allowing you to take the loan out over a longer period if required.
Some companies may offer 0% free finance for a given period of months or years normally a deposit down payment maybe required
Always ensure any company offering stairlifts on finance are regulated by the Financial Conduct Authority (FCA) or they may use a third party broker, again due diligence is required ensure they are regulated before you sign any agreement.
Like any other loan agreement, credit checks would be carried out by the lender against you. There are many factors they look at such as having a good credit score record, being over a certain age and payment history. These are only a few examples and other factors may apply.
Acquiring stairlifts on finance might not be the right option for you, fortunately there are other alternatives into acquiring a stairlift such as a Stairlift Grants see our in depth article Applying for a Stairlift Grant for more information.
Can I rent a stairlift?
Absolutely, renting a stairlift is a popular way of upgrading your home without the initial expense. However, unlike purchasing a stairlift on finance, you would never actually own the product. This isn’t always a bad thing, there are plus sides to renting.
One would not have to pay for servicing breakdowns or maintenance all this would be included in your rental agreement and when you no longer require the we will remove it free of charge saving you the hassle of trying to sell it on and recoup some money back which might not be much at all depending on the model age and condition of the stairlift.
For more information on renting a stairlift visit our rental Stairlifts page. Stairlift Trader are a local Tameside Manchester Stairlift company with decades of experience in the Stairlift mobility industry we offer new or reconditioned Stairlifts at competitive prices to either rent or buy. Contact us today for a free stairlift home survey quote.
0161 370 6999
We hope you enjoyed this small article “Stairlifts on Finance” for more related articles check out our “Stairlift Buyers guide FAQ” packed with answers to the most common related questions asked about Stairlifts
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