How to installment purchases offer is considered a smart consumer?

Buying installments and similar payment forms in recent years are attracted to consumers.

The purchase of installment goods is often the same as installment loans at the selling point, which has become a practical option to finance both the needs and expectations of a buyer.
In addition, traders and businesses can benefit from this transaction. By giving customers a chance to subdivide their payments, businesses can pin more orders and continue developing.
If purchases seem to be a solution for your spending, this guide is for you. Here' s all you need to know about the form of installment purchase to help you become smart consumers and help take advantage of this sponsorship method.

Elements that need to be reviewed before installment purchase

1. interest rates and monthly payments

Although many companies and suppliers support installments, the terms and conditions are not always the same. Because payment will be compared to a certain period of time, your monthly payments may be charged or not.
Each vendor' s approach varies with a number of possible gains, others will choose monthly payments with reduced or increased money. It' s important that you read the offer from the vendor you' ve chosen to ensure that you're getting the best price you can manage.

2. Penalties

Think that you' ll pay these payments for a certain period of time, the provider you' ve chosen can punish you for lack of a payment. This is to prevent customers from missing deadlines and keep payments quickly.
Depending on the provider you' ve selected, you can review the fixed cost for each delay.
Although it is necessary to pay the right time, the unexpected may occur and you may need your cash in more urgent needs. Choose a financial unit that applies more comfortable forms to save a lot of trouble if you have to delay your monthly payment fee.

3. Loan time

Another important factor is your loan time. The time period you have before completing the payment on the billable balance is equal to 0. A common principle is with regular payments, longer borrowing time means paying a smaller amount per month.
Not all vendors will provide identical payments, and they will not have the same loan term. By carefully considering the time period since you bought the purchase until the payment is complete, you can better evaluate which provider is relevant to your financial and the ability to make the right payment on time.

4. Payment method

There are many different ways that providers can charge you for your monthly payments: cash or check money, pay by debit card, digital platform, etc.
When you review the installment program with the provider, you' ll need to make sure that the installment method matches your needs and the medium you can access. Otherwise, you're at risk of missing payments that you have to struggle with.

5. Easy payment

The payment method of the compatible provider with the financial media that you have access to is not enough. You need to choose a provider that allows you to transact and easily with them. Extensions like automatic payments, online ports, and reminders help make your monthly performance quickly and easily easy.

Advantages of installment purchases

If you're not sure whether the form of installment is suitable for your needs, this is some benefits that this financial option provides.

1. Interest rate options

Most vendors are allowed to pay the 0% interest rate. This means that purchases may be yours without paying additional fees and not burdened with the amount of money at all times.
Depending on the terms and conditions of the installment package, you can easily postpone the balance of payments that can be managed for weeks or months. With the 0% interest rate, you can easily predict the amount you need to pay and have time for it.

2. Less stress on your cash flow

Buying items with large tickets such as a computer or a new refrigerator may be able to cause your financial stress. If you're missing cash or are intended to buy such items without a plan —, such as the sudden incident — the payment can be a costly mistake.
Through the installment package, you can pay a smaller amount for a fixed amount of time. In return, you can keep more cash for other needs.

3. Reasonable budget

The ability to buy something right now and pay the remaining amount will require strict difficulties to keep up with payments in weeks or months due to the plan.
As mentioned earlier, there' s a certain amount of money for each month to help a lot of your upcoming plan. This predictability allows you to imagine your budget easier and stay close to the budget.

4. To build credit prestige

It may be a challenge to receive credit when you have less or no experience of it. With most installment providers that can allow you to reach your credit limit while less based on traditional terms of confidence, such as credit and history. Installment packages can be included in your credit reports, helping you build your credit score more easily.
In addition, installment programs can also help people with poor credit history. By paying a timely installment package, your credit score will improve and the consequences of previous errors may be minimized. In return, your improved credibility can allow you to reach more widespread credit in the future.

Items you should buy installments

The form of installment purchase only works best for certain things. In general, these are non - inevitable and immediate purchases:

1. Computers and utilities for agencies or schools

In this digital age, computers and other electronic devices have become necessary for students and experts to fulfill their tasks. Even if you're new hires to start a job or students need tablets to access important reading, the installment packets can help you get what you need without a financial obstacle.

2. Replacement equipment

Air conditioners, refrigerators and kitchen are only some of the necessary factors for family life in urban areas. Once these devices are certain, replacing them is necessary. Installment payments give you a chance to buy alternatives without affecting your finances.

Be a smart shopper

Final conclusion, buying installment goods may be a great financial choice to address the needs without affecting your financial status. It provides consumers with opportunities to manage their budgets better and improve their credit.
If you're a member of a Movi or not, you may be able to register under the instructions below to have enough conditions to participate in the purchase purchase program in detail

You can register an account through below channels:

1. Download MOVI app:
   • Android: https://play.google.com/store/apps/details?id=vn.mobivi.icaremember&hl=vi
   • iOS: https://apps.apple.com/vn/app/icare-benefits-member/id1141780272?l=vi
2. Contact Telesales via hotline 18006637
3. Contact the nearest Movi center (refer Movi centers via link https://www.movi.vn/en/about/contact?tab=movi-center)
4. Contact Customer service via toll free hotline 18006669

After contacting, providing information to Movi, we will quickly check and clearly advise you about the conditions to particiate in the Movi Benefits Program.