Finance FAQ’s
How Our Finance Works
Here at Chronofinder, we offer flexible finance options on a wide range of pre-owned and unworn luxury watches, allowing you to spread the cost of your purchase over a term that suits you. This page explains how our finance works, who is eligible, and what to expect from the application process.
Finance is provided by Novuna Personal Finance, part of Mitsubishi HC Capital UK PLC. Chronofinder Ltd (FRN: 1012369) is authorised and regulated by the Financial Conduct Authority and acts as a credit broker, not a lender. Credit is subject to status and affordability.
Our Finance Options
We offer two finance options on eligible watches:
0% APR is available over 12 months with a minimum 10% deposit. You pay no more than the listed price of the watch, with the remaining balance spread across equal monthly instalments.
Interest-bearing finance is available for 24 to 60 months at 11.9% APR Representative, with a minimum deposit of 10%. This option allows for a longer repayment period, if preferred.
The minimum deposit for all finance is 10% of the watch’s value. You may choose to pay a larger deposit to reduce your monthly commitment. The maximum loan amount is £20,000. If the watch price exceeds this, the difference must be covered by the deposit.
There are no arrangement fees or hidden charges for either option. You can browse our current selection of watches available on finance, including Rolex Submariner, GMT-Master II, Daytona and Datejust, on our Rolex Finance collection page.
Representative Examples
The following examples are for illustrative purposes only. Your actual repayments will depend on the price of the watch, the deposit paid, and the term you choose. Credit is subject to status.
0% APR – 12 months
| Cash price | £10,000 |
| Deposit (10%) | £1,000 |
| Total amount of credit | £9,000 |
| Term | 12 months |
| Monthly repayment | £750 |
| Total amount payable | £10,000 |
| Representative APR | 0% |
11.9% APR Representative – 60 months
| Cash price | £10,000 |
| Deposit (10%) | £1,000 |
| Total amount of credit | £9,000 |
| Fixed interest rate | 11.9% per annum |
| Term | 60 months |
| Monthly repayment | £197 |
| Total charge for credit | £2,820 |
| Total amount payable | £12,820 |
| Representative APR | 11.9% |
Late or missed repayments may have serious consequences, including an affected credit rating, which could make it more difficult to obtain credit in the future.
Eligibility
Who can apply for finance?
To be eligible for finance through Chronofinder, you must:
- Be aged 18 or over
- Be a UK resident and have lived in the UK for at least the past 12 months
- Be employed for a minimum of 16 hours per week, or be retired with a regular income
We are unable to offer finance to residents of the Republic of Ireland. Homemakers are not excluded from applying in their own name, though the employment details of a spouse or partner will be required to process the application.
What deposit is required?
A minimum deposit of 10% of the watch’s value is required on all finance applications. You may choose to pay a larger deposit to reduce your monthly repayments or the total amount borrowed. If the purchase price exceeds the maximum loan amount of £20,000, the shortfall must be paid as a deposit.
Applying for Finance
How do I apply?
Finance can be selected as a payment option at checkout. Add your chosen watch to your basket, select finance at the payment stage, and complete the online application form. The process takes only a few minutes and is fully secure.
How quickly will I receive a decision?
In most cases, a decision is provided within 60 seconds. If your application is referred to Novuna Personal Finance’s underwriting team, they may request additional information before reaching a final decision.
What happens once my application is approved?
Once approved, you will receive your finance agreement and can choose to sign it electronically or to print, sign, and return it by post.
If e-signing, a PDF of your agreement will be displayed on screen. Read it carefully before confirming acceptance of its terms. Once signed electronically, Chronofinder will be notified, and nothing further is required from you.
If you choose to print and return the agreement, follow the instructions on the covering letter and post it to the address shown. Please note that your watch will not be allocated to your order until Novuna Personal Finance has received the completed agreement.
Repayments
When do repayments begin?
Your first monthly repayment will be due one month after your purchase has been delivered.
Are there any arrangement fees or additional charges?
No. There are no arrangement fees or hidden extras associated with taking finance through Chronofinder.
What happens if I miss a payment?
Late or missed repayments may have serious consequences, including a negative impact on your credit rating that could make it more difficult to obtain credit in the future. If you are having difficulty with repayments, we recommend contacting Novuna Personal Finance directly.
Credit Checks
Will a credit check be carried out?
Yes. As part of the application process, Novuna Personal Finance will carry out a credit assessment using credit scoring. This is a method used to evaluate the risk of an application based on the information you provide, along with data held by credit reference agencies. Factors such as your age, income, occupation, and existing financial commitments may be taken into account.
Credit scoring does not discriminate on the grounds of sex, race, religion, or disability.
Why might my application be declined?
While Novuna Personal Finance is unable to provide a specific reason for a declined application, decisions are typically based on one or more of the following:
- Your credit score (different lenders assess this differently)
- Adverse information held by credit reference agencies
- Existing financial commitments suggest over-commitment
- Being under the age of 18
- Your repayment history with other lenders
Can I reapply after being declined?
Yes. A previous decline does not automatically result in a further refusal. We recommend waiting at least six months before submitting another application, as circumstances and credit profiles can change.
What information do credit reference agencies hold?
Credit reference agencies hold a combination of public records (such as electoral roll data, County Court Judgments, and bankruptcies) and financial account information shared by lenders, including payment history and outstanding balances. Any credit searches carried out will be recorded, though the outcome of those applications is not.
How can I access my credit file?
You can request a copy of your credit file directly from any of the major UK credit reference agencies. If you believe any information held by the agency is incorrect, you can ask the agency to investigate and correct it.
Experian Limited, Customer Support Centre, PO Box 9000, Nottingham, NG80 7WF
Equifax Ltd, Customer Service Centre, PO Box 10036, Leicester, LE3 4FS
TransUnion International UK Limited, Consumer Services, PO Box 491, Leeds, LS3 1WZ
APR and Interest
What do APR and rate of interest mean?
Rate of interest: The rate of interest is the annual cost of borrowing, expressed as a percentage. It does not include fees or other charges.
APR: APR (Annual Percentage Rate) is a broader measure of the total cost of borrowing, reflecting both the interest rate and any applicable charges. All lenders are required to disclose their APR before you sign a credit agreement. It is the most useful figure for comparing financial products, and will vary between providers.
Delivery
Can my watch be delivered to a different address?
To protect against fraudulent applications, financed purchases can only be delivered to the home address registered on the finance application.
Chronofinder Ltd (FRN: 1012369) is authorised and regulated by the Financial Conduct Authority. We act as a credit broker, not a lender, introducing customers to Novuna Personal Finance, part of Mitsubishi HC Capital UK PLC, who provide regulated finance agreements. Credit is subject to status and affordability. UK residents only. Terms and conditions apply.