I want to live beautifully all. A car, an apartment, modern technology, a trendy phone is the desire of most normal people. That's just not all have this money to buy overnight. Therefore, people resort to services such as installment and credit. The difference between them is not known to everyone.
Than the installment is different from the loan?
Loans make it possible to improve the quality of life and make it more pleasant and comfortable. They help out in a variety of situations. Loans can be commercial, consumer and auto loans. Both legal entities and individuals can act as borrowers. The loan can be obtained both at the bank and at the outlet for the purchase of goods. It is issued at interest and on all possible terms.
If the documents appear in the bank, that is, the contract of sale is with his participation, this is a loan.
Than the installment is different from the loan? More often, installments are provided for the purchase of household appliances and vehicles. In addition, the difference between an installment plan and a loan is the timing of financing. Usually the service is provided for a short period of time - from 3 to 12 months. Rarely for two years. Paying the same consumer credit can be stretched for 3-5 years.
Where can I arrange installments?
Advertising, offering to buy goods in installments, quite often occurs on TV screens and banners on the street. What is the difference between an installment plan and a loan?
The second option is when the installment is provided by the store itself. This is the "true" installment plan, where the agreement is directly with the seller, without any intermediaries. Interest, additional fees and commissions are not provided for this type of calculation.
The only thing you will have to pay for is the consideration of the questionnaire and the registration of all necessary documents. The cost of this service stores install themselves and usually include in the total amount of installments.
The second difference between installment and credit from the purchase of goods is legal relationship. The contract of sale must be drawn up with the seller. And in case of any claims, it will be necessary to apply to him.
The amount that makes up the cost of the goods is paid monthly in equal shares. Most often in this case, most of the initial contribution is provided (usually at least 30%).
Who can arrange installments?
Different banks have different criteria as to who they are willing to lend to. At registration more exact information is necessary to receive from employees of bank. In general terms, a person must have a job, Russian citizenship and an age of 18 to 65 years.
What documents are needed for payment in installments?
The list of documents required for the completion of installments, largely depends on where it is issued. If you purchase goods in a shopping center through a credit specialist, you will need a passport and a second document confirming your identity to choose from (SNILS, driver's license or military card).
Which is better: loan or installments?
Planning to arrange installments, you need to properly assess their capabilities, because the service has both advantages and disadvantages.
If we talk about shortcomings, it is:
- Short term financing.
- A large amount of monthly payments.
Therefore, to answer unequivocally to the question of what is best: a loan or installments, it is impossible. Everything is determined by your financial capabilities.
What should I pay attention to when buying goods in installments?
The opportunity to purchase goods in installments pleases many. Therefore, not everyone adequately assess what is happening around them. Do not immediately rush into the pool head, you need to soberly look at the surrounding. Perhaps the cost of goods in the outlet that offers this service is significantly overstated. It is worthwhile to study similar proposals in other stores and compare them with the cost of the goods offered in installments.