Today, more and more consumers prefer to buy large and small household appliances on credit. This innovation also affected the owners of smartphones who purchase phones in installments. Where is better to take a modern gadget? Which is better - a loan or installment plan? All this will be considered in this article.
How installments differ from a loan
When making purchases, it’s worthwhile several times to think about whether to immediately pay for the selected product or it is more convenient to make monthly payments. Also, before deciding where it is better to take the phone in installments, you need to weigh the pros and cons.
A loan is the issue of cash at a percentage. At the same time, an appropriate contract is drawn up in which the interest rate and obligations of the parties are prescribed. You can get a loan both in the bank branch and in the store.
As a rule, overpayment in this case is from 10% to 30% of the value of the goods. If, for some reason, the borrower has not paid the monthly payment by the deadline specified in the contract, then a fine or interest may be imposed on him. In the event of a longer delay, penalties will be more aggressive and may even cover the initial cost of the goods.
If we are talking about an installment plan, it means an interest-free loan, which is usually provided by shops, dealerships and other organizations. In this case, the value of the goods is divided into several equal parts. Payments are made monthly, without additional interest. In case of delayed payments, the store has the right to take the goods back. Based on this, this method of acquiring products seems the most profitable. However, do not rush to look for shops where you can take the phone by installments. First, consider the pros and cons of such a deal.
Pros and cons of installments
If we talk about the benefits of such transactions, then it is worth highlighting:
- lack of interest rate;
- the speed of processing the transaction (installments can be issued directly in the store or online);
- minimum package of documents (usually only a passport of a citizen of the Russian Federation is required);
- flexible debt repayment schemes;
- collection offices do not participate in transactions.
Nevertheless, when choosing where it is better to take the phone by installments, some consumers face the following disadvantages:
- too short terms are given for payment;
- far from all phone models are sold in installments, so it’s not always possible to get exactly what you want;
- You must immediately make an initial payment;
- the goods become the full property of the buyer only after making all payments.
In addition, some sellers intentionally inflate the prices of goods sold in installments. As a result, it turns out that the buyer still pays the extra interest. Therefore, before looking for where it is better to take the phone by installments, it is recommended to study the market and the cost of the selected model in other stores.
Now consider the trading companies that offer the most favorable conditions.
"Megaphone"
The leader in mobile communications has long been selling smartphones. Today, Megafon offers customers to purchase Galaxy smartphones on fairly favorable terms: 0%, 0%, 24 months. Although this transaction is called the word "installment plan," this is actually a loan offer. Yes, you can really pay for a phone worth 55,000 for 2 years, contributing about 2,300 rubles every month. However, when making a purchase, customers are invited to sign an agreement stating that the loan is provided by the partner bank, and the interest rate will be 7.45% per annum (by the way, all this information can also be found on the official website). Thus, it turns out that the phone will have to pay not 55,000, but 63,195 rubles.
Nevertheless, if you look for the same smartphone model not on such large sites, then it can cost about 65,000 rubles. Thus, it is more profitable to purchase the device on credit.
We continue to consider where it is best to take a phone by installments or a loan.
"M Video"
The site of the famous cybermarket presents the same conditions: 0%, 0%, 24 months. However, in this case, we are not talking about a narrow model range, but about all tablets and smartphones. Due to this, in installments, or rather on credit, you can take any phone you like.
If you find the same Samsung Galaxy model on the M. Video website, then you can purchase it through a stock, making payments within 36 months.
Yulmart
Continuing to consider where it is better to take the phone by installments, you cannot ignore one of the largest trading floors. In this case, the payment period is 6 months. Although this seems less advantageous, it is worth considering that interest is paid annually, respectively, the shorter the period given for payments, the lower the interest rate.
To summarize
Based on the foregoing, it becomes obvious that answering the question of where it is better to take the phone in installments is not so simple. The fact is that as such this service is not provided by large stores and cybermarkets. If you make such a deal with a private seller, then this can be fraught with consequences, therefore it is easier to take a loan or immediately pay the full cost of the smartphone.