Than the installment is different from the loan and what is better?

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.

Than the installment is different from the loan? The main difference is that there can not be any overpayments for goods (service) with installments. And it's impossible to get it in the bank, because it contradicts the main activity of the credit institution.

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?

There are two options for installments. The first is when the service is a loan. In this case, the contract for the purchase of goods is concluded with the sales point, and the loan agreement is signed with the bank. In this case, the seller receives money from the bank, the buyer acquires the goods and the duty to pay off the debt for a fixed period, making a certain monthly amount. In fact, installment and credit - the same thing. The difference is that when you buy in installments, you do not overpay for the goods. And then the question arises: "When establishing an installment plan, a loan agreement is concluded, in which the interest rate is indicated ." The interest for using the loan is included in the amount of the monthly payment. "How does it turn out that the buyer does not overpay for the goods?" In order to give the client "0% per annum", the trade organization makes a discount on the goods, and the bank earns this discount by its interest and winds up. That is, all costs are borne by the trade organization. Hence, it turns out that the client acquires the desired thing without any overpayments.

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.

It is worth noting that most banks do not enter into a loan agreement with people living in regions where their branches and branches are not present. In addition, the registration of installments to citizens of the Chechen Republic, the republics of Dagestan, North Ossetia and some other southern republics is possible only in the region of registration.

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).

If the contract is formalized directly between the seller and the buyer, then in this case it will be necessary to have a passport and a contract of sale. It will specify the terms of the purchase: the initial payment, the period and the amount of monthly payments. Sometimes you may need a certificate of income or a guarantee of third parties.

Installment Features

Than the installment is different from the loan? You can buy any goods in installments: household appliances, furniture and fur products, as well as jewelry, and plastic windows. But most often trade organizations set certain restrictions on installments. Stores carry out actions for which for a certain period of time there is an opportunity to buy all the goods or some sort of limited category of goods in a "loan at 0% per annum". Therefore, more often installments - this is just a marketing move to increase the number of traffic visits the outlet.

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.

So, about the advantages. Registration takes place quickly, without any stringent requirements for the documents provided. When buying in installments there is no overpayment.

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.

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