How does interest-free finance work for home energy upgrades?

Interest-free finance lets you pay for a project over time instead of all at once. Arlite offers interest-free finance plans through four providers: Humm, Latitude, Brighte and Zip Money. You apply with the provider, and the provider decides whether you are approved and on what terms. Arlite does not decide eligibility.

Who are the finance providers?

Each provider runs its plans differently. This is a summary from the Arlite finance options page, so check the provider’s own site for current details.

• Brighte. An Australian provider focused on solar and energy efficient home upgrades. Its options include a 0% interest payment plan, green loans and personal loans.
• Humm. A point of sale credit option with repayments taken automatically from your nominated bank account or card. You apply with Humm and are subject to approval.
• Zip Money. A credit account built for larger purchases, with interest free periods that vary by merchant. Approval, limits and fees are set by Zip.
• Latitude. Interest free plans on a Latitude credit card, with plan lengths set by the participating business and a choice of plan types: equal monthly, minimum monthly or deferred. A plan can be paid off early without penalty.

How does the process usually work?

There are three stages. First you talk to the team about the work you want done, and they scope it with you and put together a quote. Then you choose the finance partner and plan that suit your budget. Finally you apply with your chosen provider, and once your finance is approved the work is scheduled with you.

How is the price of the job worked out?

Finance is a way to pay, not a different price. The quote for the work depends on the scope of the job, the equipment chosen, the condition and layout of your home, and the electrical work involved. A solar or battery quote also depends on your roof and your switchboard. Any fees that come with a finance plan are set by the provider, so ask the provider for them in writing. Our articles on what an electrician costs in Brisbane and what affects switchboard upgrade cost explain more about how pricing works.

What about government rebates?

Government rebates and incentives change from time to time, and eligibility is decided by the program. This guide does not give any amounts. Ask the team what currently applies to your project.

What should I look for in a plan?

Whichever provider you choose, these are good questions to ask before you apply. Get the answers in writing where you can.

• How long is the interest free period? And what happens when it ends?
• What fees apply? For example, any set up or account fees, and any fees if a payment is late.
• What are the repayments? Are they equal each month, a minimum, or deferred until later?
• Can I pay it off early? And is there any cost to do so?
• What checks will be done? Applying for credit can be recorded on your credit file, so ask the provider how your application will be handled.

What does Arlite decide, and what does the provider decide?

Arlite scopes and quotes the work and carries it out. The provider decides whether you are approved, how much you can borrow, the length of the plan, the fees and the repayment terms. If you are declined, that is the provider’s decision.