Smartphones are an integral part of everyday life. If you only want to make calls and send text messages, you can also use a simple mobile phone, which is already available for little money.
However, if you want a more exclusive model with Internet access and many tools, or if you want to use the mobile phone for business, you have to plan significantly higher costs. These smartphones with many applications usually cost over 130 euros. If you do not want to raise this price all at once, a installment payment or a small consumer loan makes sense.
- Installment payments and consumer credit are alternatives to direct payment
- Consumer loans offer many benefits
- When buying installments you should pay particular attention to the interest
Mobile phone financing through a loan
agreement is usually linked to a Private credit inquiry and the creditworthiness of the consumer. If you have a low credit rating or poor scoring on the Private credit, it will be difficult to agree on installment payments. Although a Private credit query is also carried out on a personal loan, the criteria are less strict. For example, a large number of older entries at Private credit are insignificant for a small personal loan, since the risk for lenders and borrowers is low.
Borrowing: If interest on the installment loan is high, then a consumer loan is more appropriate for you. But again, you should compare several offers based on the APR and only then make a decision. Consumer credit is more commonly referred to as personal credit. Below we have listed its advantages for you:
- Free Use: You can use consumer credit independently of a specific purchase, giving you greater freedom to use your credit.
- Clarity: You can keep track of consumer credit year round, as the interest rate is set for the entire term.
- Special repayments : Unscheduled unscheduled repayments can reduce term and interest charges and close the loan faster.
- Rate breaks: Many banks offer a free rate break per year.
In the case of consumer credit, one or more private investors provide the required amount so that the mobile phone can be paid for on the first purchase. The installment payment then begins with the repayment agreement of the personal loan with the respective creditors. With such a small amount, credit institutions hardly ever lend money or only at very high interest rates.
Even cell phones and smartphones can be financed through a loan
What do you need to know about a loan agreement? A guide.
Our tip on mobile phone financing: Consumer loans and consumer loans are given on different terms and also the interest rates of banks vary. Therefore, it is advisable to use a comparison to find the right consumer loan for a higher-priced mobile phone.
For example, consumers can use the consumer lending platform to find the right consumer credit, for example to finance an expensive mobile phone.