Soccer fights are coming in, which department stores are trying to ride, and with lots of promotions, TVs advertised with 0% THM appear on the line. But is the free loan really free?
More and more people are taking advantage of the promotions of financial companies and stores when they can buy various electronic goods at free credit, or 0% APR. Now TV will be the hit as the football fever approaches the World Cup.
Uncertainty about loans is widespread, which is why many avoid all debt and therefore miss out on a similar opportunity. However, a prudent customer may win such a promotion, but we should not doubt; sooner or later someone will pay the price of the loan.
Otherwise, a commodity loan and related services cost between 5 and 10 thousand forints, of course, depending on the goods selected and the amount of credit. This is normally paid as the cost of the loan, ie the APR is based on the cost. However, in the case of free loans, the service is free for the buyer, someone else pays for it.
Who pays the loan?
0 percent promotions are often in the interest of the lender. In this way, they can gain new customers, who can later benefit from other products. Sometimes we get the merchandise credit on a credit card removable frame, so product coupling is immediate, but you may also need to apply for a credit card when applying for credit, which will be mailed later.
So when applying for a loan, ask yourself how you will get the money and what the costs are. In the case of a credit card, pay attention to its annual fee, grace period, interest thereon and other charges.
If you later contact us over the phone with other products but don’t need them, we’ll politely say no, that’s the least we can do for free credit.
Other times, sellers also enter the competition and, for a product or group of products, swallow the cost of the credit instead of the buyer. In practice, this means that each TV is more expensive, because the cost of credit is built into the device, which everyone pays, even if they do not use the service and pay immediately.
So it is worth looking around for those who do not want to buy on credit to see if it is not significantly cheaper elsewhere on the product. As always, it is worthwhile to use the Internet price comparison portals to make the best purchase. Free loans are also valued based on these.
What else can we buy flat TV?
If you have the right credit line and can pay off your debt on time (with your next payment), you may want to pay with a credit card at the cheapest place for the product you choose. Credit card debt is also free up to the end of the grace period, you only have to pay the annual card fee, but you can also get redeemable points, which can be more than these costs.
Personal loans are generally not worth borrowing for similar purchases, but there are special products. The UniCredit Favorit Personal Loan is offered for 10 months at a 10 percent fee, but will be reimbursed if you manage to pay off your debt within 3 months. This can be a solution for the bank’s clients in particular, as it is often the deciding factor when assessing personal loans.
Whatever you buy on credit, we always assess whether we need a particular product. Would we buy it even if we needed to save it. We evaluate the cost of a loan based on how much it costs us to get something much sooner than we need to save.