Financing your new tattoo
ARE YOU WANTING A NEW TATTOO BUT ITS TAKING YOU TOO LONG TO SAVE?
IS YOUR SLEEVE TAKING TOO LONG BECAUSE YOUR HAVING TO SAVE UP BETWEEN SESSIONS?
DID YOU MISS OUT ON A CANCELLATION SLOT BECAUSE YOU DIDN’T HAVE THE MONEY?
DO YOU WISH YOU COULD HAVE A MORE MANAGEABLE WAY OF PAYING FOR YOUR TATTOO?
If that’s the case then Phoenix Tattoo has great news for you! We’ve partnered with Payl8r, who will work in conjunction with you to offer you the best financial option, allowing you to spread the cost of your new tattoo into easy and affordable monthly payments.
It’s a simple application form which will take 60 seconds to complete and in most cases a decision is automated and it will be with you 30 seconds after your application.
You can choose to pay up to 12 months and finance is available from £50 to £2500. A minimum 10% deposit is required.
For more information please pop into the studio for a chat. Unfortunately this is only available in our studio and you are not able to apply online.
Frequently asked questions
What is Payl8r and how does it work?
Payl8r lets you get your new tattoo without having to worry about the costs. They offer flexible payment plans, letting you decide how to pay it back.
They don’t penalise you for having a thin credit file and they use a soft search which will not affect your credit. If you do have a thin credit file there will assess your affordability instead.
How long do I have to repay for my tattoo?
It’s entirely down to yourself, you have up to 12 months to repay it. Payl8r will give you alternative options to suit you.
What is the interest rate on the finance?
Interest rates range from 0%*-6% per month. Your interest rate will depend upon the length of time it takes you to repay the loan and also your credit score. These will be provided to you by Payl8r.
*0% finance only applies if the loan is repaid within 30 days.
Representative Example: If you borrow £200 over 12 months at a fixed monthly interest rate of 4% and an annual rate of 48% and representative annual percentage rate of 127.34% You will pay: Monthly payment: £24.66. Total amount you repay: £295.92 Total charge for credit: £95.92
Will I qualify for finance?
To qualify you must have .....
- No CCJs within the last 3 years
- No accounts in default
- Be a UK resident
- Have online banking
- Have a regular source of income
Do I need a deposit?
Yes - the standard deposit is 10% and it is only taken once you have been accepted by Payl8r.
How does it work?
Phoenix Tattoo will give you a quote for the tattoo that you are looking for. If you decide that you would like to apply for the finance option, you will be given a link to the Payl8r portal where you will fill in an application form. This will take around 60 seconds to complete and in most cases the decision is automated and is given within 30 seconds.
Once you have been approved for the finance, Phoenix Tattoo will be able to book you in for your tattoo session or sessions.
How does Payl8r assess your affordability?
If you fail a traditional credit check, rather than rejecting your application, Payl8r may give you the option to submit your affordability instead. They will ask you to submit a 90 day bank statement to support your application.
I am already booked for a tattoo, am I able to apply to finance the balance?
Yes you can, we are happy to do that for you. You will need to pop into the studio to discuss and we’ll show you how to apply. The finance needs to be approved no later than two days before your scheduled tattoo appointment.
Does Phoenix Tattoo have access to my financial or personal information?
No. Only our partner Payl8r has those and the application form you are completing is on their portal. Phoenix Tattoo will only be informed whether your application has been accepted.
Is Phoenix Tattoo Ltd a money lender?
No, we are a credit broker for our finance parter Payl8r. They are a trading name of Social Money Ltd, a company registered in England under company number 08054296. They are authorised and regulated by the Financial Conduct Authority.
For more information please see Payl8r’s website; https://www.payl8r.com