How to finance your purchases on Amazon: Methods and requirements

If you have ever wanted to buy a product in Amazon, but you didn't have the money at the time, you'll be glad to know that the platform offers financing options to make your purchases easier. Financing purchases on Amazon is now possibleThere are different ways to divide the payment into installments, ddepending on the amount and who the seller is.

Then We provide you with all the information about all the ways in which purchases can be financed on Amazon Spain: what the requirements are, which products are eligible and other interesting details.

Financing options available on Amazon

Currently, Amazon offers Two main methods of financing through the lending institution Cofidis: Pay in 4 y Credit LineBoth systems are designed to allow users to split payment for their purchases into installments, although they work differently.

Pay in 4 with Cofidis

This system allows you to divide the payment of your purchases (as long as their amount is between €60 and €1.000) into four installments which are distributed within a period of 90 days. No interest is required, although a fee does apply. Opening commission of 2,7% of the total financed.

By selecting this option during the payment process, the user is redirected to the Cofidis website, where they must complete a form with their personal data and the card from which automatic charges will be made.

Cofidis Credit Line

This is a financing method that works like a line of credit. reusable creditPurchases between €45 and €3.000 can be financed, choosing Terms from 3 to 30 months. In some cases, this option offers interest-free financing, although depending on the amount and term, the TIN can reach up to 17,52%. This is an important fact to keep in mind when doing your calculations.

To use Credit Line, the user must have been previously approved by Cofidis. Once requested and granted, the credit line is enabled in the account for future purchases.

Requirements for using Amazon financing

To enjoy the advantages of financing purchases in Amazon, it is important to know the requirements that must be met. They are the following:

• You must have an active account on Amazon Spain: Only customers with an Amazon.es account and a positive purchase history are eligible for financing.
• A valid credit or debit card is required.: Fees will be automatically charged to the card on file. American Express or foreign cards are not accepted.
• minimum purchase amount: For Pay in 4, the purchase must be at least € 60, while for Credit Line the minimum is € 45.
• Our identity must be verified: In some cases, a photo of the DNI/NIE or passport will be requested to complete the application.

Products that can be financed on Amazon

Important: When you are going to finance purchases on Amazon, you should know that not all products can be paid in installments. In principle, This option is available for products sold and shipped by Amazon, although it is also true that some third-party sellers may also offer financing.

To find out if a product is eligible, simply check the item details page. If financing is available, a specific option will appear under the price indicating the payment plans.

Advantages and disadvantages of financing purchases on Amazon

Advantages

• Ease of payment: You can purchase high-value products without making the full outlay immediately.
• Some interest-free options: Depending on the amount financed and the promotion available, the plans may not have additional costs.
• Quick and easy process: In just a few minutes you can request financing directly from Amazon.

Disadvantages

• Product restrictions: Not all items allow financing.
• Possible additional costs: Some options have commissions or interest that can make the purchase more expensive.
• Consequences of non-payment:Failing to make payments can affect your credit history and make future financing difficult.

What to do if Cofidis financing is rejected

If, when trying to finance purchases on Amazon, your financing request is not approved by Cofidis, it is best to try another payment methodYou can also contact Cofidis directly to find out the reasons for the rejection and see if it is possible to resolve it.

It should be noted that Amazon does not intervene in the approval of these requests, since The decision is made exclusively by the financial institution.

Opting for financing on Amazon can be a great way to purchase products without making a full payment right away, especially in cases where interest-free plans are offered. However, it is crucial to consider the requirements, possible additional costs, and make sure you can meet the payments to avoid financial problems down the road.