As a complex question, it deserves a difficult answer: it depends. It depends, among other things, on the cost of the phone, the duration of the financing or the interest rates and commissions paid. Everything is easier with an example: you can buy a phone for 600 euros. After doing market research, you will come to the conclusion that this is the most attractive investment option.
10% interest rate for customers
This is the easiest option because your bank can give it to you for the rest of its life. In this case, the total amount paid depends on the repayment period. Give an example:
- If you return the money within 12 months, the price of the phone becomes 632.99 euros, so you pay 32.99 euros of interest.
- If you repay within 24 months, you pay double interest, € 64.49 and € 664.49 for the phone.
- If you repay within 36 months, the interest will increase to almost one hundred euros (96.97 euros) and the final price is 696.97 euros.
As you can see, the longer the repayment period, the higher the interest paid. Here you can make a special sign.
Invest in sales with 0% interest but 10% opening commission.
In this case, you pay a commission of 60 Euros regardless of the repayment period. So if they offer you “0% credit in 12 months” (a common slogan in many marketing campaigns), option 1 may be more expensive than a loan.
Duplicate credit card with 20% APR
대출 If you decide to use your card mobile phone and choose a fixed fee of 30 Euros per month as the payment method, if the interest rate is 20% (above or below the average for this type of card), you will pay 675.10 euros to you phone and took 14 months to pay off. For example, if you decide to pay a small fee of 20 euros a month, the phone costs 838.70 euros. You only pay 238.70 Euros with interest! The worst is the phone payment for 3 years 7 months. Now that you have the number in front of you, how do you feel about getting financing to buy a new phone? Don’t you think it’s better to save cash and pay for it? If you need a little extra help, you can offer a quick loan of up to 1,000 Euros (300 if you are applying for the first time) to help you deal with unforeseen events that may occur at Vivus. It’s very easy and only ten minutes. Almost no paperwork!
