M.Video is a leader among retail chains selling electronics and household appliances in Russia. Moreover, this is the only public Russian non-food network. It was founded in 1993, that is, more than 20 years ago. The chain has about 400 stores across the country, namely in 165 cities.
If you ask your relatives and friends about where they buy household goods, then it will most likely turn out that they are using the “M.Video” installment plan. Reviews emphasize that the selection of goods and services here is simply fantastic. Why look for something else if here in one store you can find everything that might interest you?
Sophisticated sales technique
The company is actively developing an integrated sales strategy to unify its product range. That is, a single space operates throughout the network. The equipment you have chosen can be delivered from any store, on time. But that is not all. In addition to an effective retail format and a customer-oriented concept, the company offers its customers excellent service support. All this leads to the fact that goods by installments from M.Video are becoming more and more popular. Reviews emphasize the ability to quickly fill out a questionnaire and get approval from several partner banks at once. This is very convenient, especially if your credit history is not as perfect as we would like.
Acquisition of technology via the Internet
Today, less and less you can see buyers who walk on the trading floor and study household appliances. This option is not excluded, but usually an online store is more convenient. Having settled down in a comfortable chair, you calmly review all models, get acquainted with technical specifications and study reviews. In this case, buyers come to the trading floor with one or several options, which a competent consultant will help to compare.
There are dozens of household appliances stores that offer the opportunity to get acquainted with models on the pages of an online store. But not all of them offer installment plans. "M. Video", reviews of which in most cases are positive, corrects this situation. Any product can now be bought without overpayment, without interest or prepayment. Of course, many Russians were quick to take advantage of the attractive offer. This is a great chance to update household appliances in the kitchen, buy a new TV or washing machine.
What does installment plan mean in M. Video
Reviews make it clear that sometimes this concept is confused with credit, so let's add a little clarity. This is important so that consumers can recognize the benefits of the offer. Installment is an opportunity to purchase goods immediately, and the cost to pay in installments, within the agreed time. The difference from the loan is that interest is not charged on this amount. But they often make up at least half of the total cost.
So, before the installment plan for your product was given by the direct seller. Our parents remember that. Today, it is again provided by the bank. That is, in fact, this is a loan. But interest on it is usually paid by the seller, not the buyer. Or the seller gives a discount in the amount of accrued interest. That is, the consumer in any case does not lose anything.
Installment plan in M.Video in 2017
Reviews emphasize that the conditions are constantly updated, so you can monitor current promotions. They are updated quite often, so do not be discouraged if you do not have time. In order to arrange a product you like, you must select it from the catalog, and then contact the seller to write it out of stock. You can simply add the product to the basket, and the case is settled. Now it remains to contact the representative of the bank to make a purchase on the stock. This will require a passport.
You can perform this procedure without leaving your home. Choose a product with a stock sign and wait for the decision of the bank. If it is approved, the bank courier will bring all documents to the house for signature. After that, the purchased goods will be delivered. Specialists will help not only to raise, but also to install equipment, if necessary.
The opportunity to buy expensive goods
Household appliances and electronics are quite expensive, especially if we consider the latest models. And for those who can’t pay the full price immediately, you can divide it into 6, 10, 12, 24 parts, which makes purchases more affordable. These are the problems that installments pay in installments in M.Video 2017. Reviews emphasize that such conditions allow you to purchase what you have long dreamed about. And all remain in the black. The buyer receives the long-awaited thing, the seller - profit. And the bank receives interest from the seller and insurance from the buyer.
The popularity of M. Video was brought about by a wide range and flexible discount system. Every day there is some kind of promotion or sale on the network. You can find out about them at any time on the official website of the company.
Which banks does the store work with?
It is logical to assume that loans are not available at all banks. To date, two banking institutions operate with this trading network. Perhaps for this reason, reviews about installments in M.Video may differ. Although each buyer has the opportunity to make a request at once to both banks, and then choose the one whose conditions are more like. Well, or the one that approved the application. Which banks give loans for the purchase of household appliances:
- "Setelem Bank". Credit conditions are as follows. Down payment - 0%, loan term - 36 months, interest rate - 8%. The bank is ready to issue from 2500 to 450 000 for the purchase of new household appliances for your home.
- CB Renaissance Credit. Down payment - 0%, percentage - 10%. Here loans are issued only for the action "Installment 0024 in M. Video". Reviews emphasize that approval of an application happens in almost 100% of cases. The loan amount is from 3,000 to 250,000 rubles.
But remember that the list of products covered by the promotion is limited. Therefore, if today you see a suitable option, then you should hurry up with a choice.
What conditions does the bank make
Of course, there are requirements for a client who has left an installment plan without overpayments in M.Video. Reviews in 2017 emphasize that the store has a huge number of products that are suitable for different categories of citizens and different ages. One of these products is of interest to a 19-year-old boy, and the other to a 65-year-old woman. This begs another question: “How many years can a person apply for an installment plan?”
Any citizen who has reached the age of majority can get a loan, which, in essence, is this offer. Moreover, he must have an income. Moreover, not in the amount of payment, as in the case of the scholarship, namely the official salary. After all, a bank will approve a loan only if it sees that after payments the person will have life and food left. Therefore, income plays a crucial role.
What documents are needed for registration by installments
There are very few of them, and they are always at hand. This is also confirmed by those who took installments in M.Video. Reviews emphasize that the whole procedure does not take more than 15 minutes. If you make a request for a cash withdrawal directly at a bank branch, then managers will ask for much more information and confirmations. But when applying for installments in a distribution network, everything is much simpler. What documents will a loan specialist request? This will require only an electronic application, but this is done by the representative of the financial institution to which you are contacting. Certificates of work and other documents are not required.
Loan repayment
So, you took the goods to M.Video. Installment reviews indicate that this is the best, if not the only, option to purchase expensive items. Now there is a repayment schedule on hand, according to which you need to make the amount. Moreover, you can repay payments in any way that seems convenient to you. The first is payment at the bank branch that is closest to your home. Most of them work 6-7 times a week, which makes it possible to make payments on a day off from work. In addition, you can make payments through the cashier of the store. Choose the method that is most convenient for you.
Divide the payload by two years
This is the most popular option, which is most often chosen by M.Video customers. "Installments 0.0.24" reviews are called a very convenient option to pay for an expensive purchase. The monthly load is not too large, and the period does not have time to tire. Let's look at a specific example of how this promotion works.
In the catalog or the trading floor you see a special icon that says: "" M.Video ". Installments 0.0.24". Reviews suggest that such offers are quite common. This means that the down payment may be zero, there is no overpayment, and the amount of the debt will be evenly distributed over 24 months.
If desired, you can choose other payment schemes. In any case, you will be offered interest-free installments in M.Video. Reviews in 2017 confirm that such promotions find a good response among consumers.
Three year option
If you think that installment plan for 24 months puts too much burden on the budget, you can consider the option "0.0.36". As usual, we regularly open the site and check when the product you need appears with this icon. It is from this time that installment payment without overpayments in M. Video begins to operate. Reviews emphasize that waiting usually does not take too long. The only caveat: if you are looking for a specific model, then it is not a fact that it will be offered as a special one. But if you just need a good and reliable phone, a refrigerator or a microwave, then it's time to go to the site and start picking options for yourself.
Almost similarly to the option presented above, the action "Smart installment payment 0.0.36" is valid. It differs not only in the reduction of payments, by dividing the amount by three years, but also in the list of goods that fall under this promotion. On it you can buy a phone, refrigerator, laptops and TVs, tablets and much more. In this case, the conditions immediately stipulate which particular products it applies to. They also immediately warn that the quantity of goods is limited. Once they end, the stock may be prematurely closed.
If you want to pay off the loan as quickly as possible, but it is still such, then specially for you - "Installment plan in" M. Video 0.0.12 ". Reviews say that if the amount is not too large, then this option is one of the most convenient. In just a year, you will give the full amount and continue to use the purchased item.
Myths and Reality
Not all customers are satisfied with the terms of this promotion. Sometimes clients write that, having calculated the money paid for the due period, they found out that they overpaid a certain amount. How does this come about? Is it possible that “pitfalls” await us here in the form of hidden interest? Let's study the installment terms again:
- Under this promotion, goods are purchased on credit without any prepayment or overpayment. So far, everything is converging.
- And then we see a footnote that says: "if additional services of the bank are not bought." This is where problems may be hiding. This is insurance and various “standard” packages that customers often sign without even reading the contract.
- Another point, the “no overpayment” mode is valid when the terms of payments and other loan conditions are strictly met.
- When registering at a bank or online store, you may find that the interest rate and amount will be different.
- By the way, if you apply for a loan online, then the conditions will be more stringent. The credit term in this case is only up to 24 months, even if the stock is "0.0.36". But if you want to get installments for a longer period, then go with the documents to the store or bank branch.
How is it that the bank gives you money at a percentage, and you receive the goods without overpayment? It is for this that the special installment conditions work in M.Video 2017. The reviews confirm that the company makes a discount on the amount of interest paid to the bank. That is, the total amount that you pay remains equal to the value of the goods. If the bank additionally offers you insurance, then you have the right to refuse, but you need to do this at the stage of concluding the contract, and not after. After the transaction, you receive the loan repayment scheme, with the monthly payments calculated in advance. It is very comfortable.
What's the catch
Let's say you are interested in installments in "M. Video" 0.0.12. The reviews emphasize that it is precisely for this campaign that the number of failures from the bank is the least, because the risks of the financial system are lower. Why is it that, as a result, a person pays more than what is due? Here are a few tricks:
- The most common case is the notorious insurance. In some cases, she can really help out, but only the client can make a decision. Sometimes managers are cunning and report that they will not approve without insurance without even sending a request to the bank. In this case, your right to refuse the transaction and apply for another specialist.
- Another case when you slip a request with insurance already included. Ask to print the total payment schedule before sending the application, in which case you can understand exactly whether you have been fooled.
- Only certain categories of goods participate in the promotion. What prevents managers from overstating them by 20%, because approximately this amount will have to be discounted ?!
- The interest rate of 8% applies only to part of the loan term. For example, for the first 6 months, the indicated interest rate is valid, which is covered by the discount. But after that, the rate rises to 50%. If you did not manage to meet this deadline and repay the loan ahead of schedule, you will have to overpay.
- The presence of indirect commissions for providing a loan, for opening and servicing a loan account, for issuing a card and much more.
Useful Tips
Do not rush to sign papers and go home with new appliances. It may wait a bit. Thoroughly ask the manager about all the details. You will need to carefully study all the acts of the contracts before signing them. Request to print the payment schedule with the final numbers. Insist on reluctance to pay insurance and other fees. Since it is said that there is no overpayment, then it should not be. Most of the reviews emphasize that the conditions are transparent in M.Video, and if you carefully sign bank papers, you will do without overpayment.
New in installments
To date, the most desirable acquisition for many people is an expensive and prestigious phone, which means that the installment on an iPhone in M.Video can be the best offer. Reviews say that people did not even dream of getting an expensive novelty until they saw this offer. Having broken the price into 36 payments, you get a feasible amount, especially if you have a stable income.
Instead of a conclusion
Household appliances today are changing faster. Old models become irrelevant, more progressive, convenient and reliable appear. Therefore, home appliance stores will never be empty. Today we conducted a brief review of the conditions of interest-free installments in the network of M.Video stores. According to reviews, the company has a good service. Experienced consultants work in the sales rooms, there is warranty service, and most importantly, if the goods are sold at 0% prepayment and overpayment, then this is so. It was described above what you should definitely pay attention to when signing contracts, so as not to be surprised then that as a result they paid back more than they expected.