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If you are thinking of buying a phone on EMI, then it is very important to take care of some things. Many times people fall into a cheap offer and sit with expensive deal. Here we are telling you some important things, which are in mind …Read more
Take care of these things while buying a phone on EMI
Highlights
- Compare interest rates and charges when purchasing the phone on EMI.
- EMI is fit into your monthly budget, make sure.
- Read the fine information of the loan agreement carefully.
Tips and tricks for buying mobile phone on emi: Buying a mobile phone on EMI is quite popular. Many times it happens that the phone is not priced in the budget and you have so much mind that you choose the way to shop. It also takes care of many times. But many times people are cheated in it. Being cheated means that you buy the phone at an expensive price in cheap circle.
So if you are thinking of buying a phone on EMI, then it is very important to take care of some important things. First of all, compare various lenders and their terms including interest rates and processing fees. Second, assess your budget to ensure whether you can comfortably bear the monthly payment. Third, read the fine print of the loan agreement to understand all conditions and potentially hidden costs. And in the end, think about buying insurance to protect against theft or damage.
Avoid making these 5 mistakes
Do not see the rest of the sites for the best deal
Before choosing EMI Financing Options, definitely check on other e-commerce websites as well as what the deal is getting there. Maybe from where you are thinking of buying a phone, a better deal will go somewhere else.
Ignore your budget
The decision to buy a phone on EMI takes you out of your budget many times. Because then you have to pay in the books. While making the budget for the new phone, keep in mind the total cost of the loan including interest and fee. Make sure EMI fit comfortably in your monthly budget so that you do not have a financial stress.
Not reading the information given in fine letters
Read the fine letters carefully before signing any loan agreement. Understand the interest rate, processing fees and other implemented charges. Pay special attention to the terms and conditions, including the period of EMI plan, the facility of preparation of penalty and any condition that is applicable on missing the payment.
Country
Many people increase EMI’s age to pay less monthly EMI. But you have to pay more interest from it. As long as time will be long, the more your interest will be. Ignoring this thing will be expensive.
Not to insure
You have bought a phone on EMI and in the meantime, if your phone breaks or gets stolen, what will you do. You have to give EMI. Therefore, if you are taking Fan EMI, then definitely buy its insurance.
