The cheapest way to finance the purchase of household appliances is cash. What to do, however, when we do not have enough financial resources? Then we have an installment loan.
Nowadays, each of us can fulfill our financial dreams very quickly. If you do not want to, or if we can not put the cash to finance their purchases, installment loans are very simple and inexpensive solution.
All you need to do is have permanent employment and have a clean credit history to be able to take advantage of the installment purchase offer. All formalities are kept to a minimum, in principle we do not even have to go to the bank – there are special credit stands in stores offering such purchases.
An installment loan can be available in two forms:
– a separate credit agreement, signed each time during the purchase;
– as a credit in a credit card within the credit card limit.
An unquestionable plus of installment loans is the fact that we will arrange loan formalities even in one day and a good chance to get a loan under the “0% installment”. Especially if we are lucky enough to get unnecessary insurance and low commission.
Installment loans are often promoted as a completely free, this is not quite true. If even at first glance, it seems to us that the installments are very low and the bank does not charge any commission, all these costs are included in the prices of the purchased products.
We also need to find out if insurance is required. Often it is a product constructed so intricately that if necessary … it will be hard to use! At the same time, its redemption increases the cost of credit.
Despite this installment loans can really be profitable, you only need to select the minimum number of installments and does not contain any additional agreements on attractive cash loan or credit card.