Laptops have made out lives easier and made us more productive than ever before. From writing emails, creating PowerPoint presentations, or attending an online call on Skype; everything can be done remotely via our laptops without compromising on the power that was previously considered to be a domain desktop PCs only used to excel at. The laptop of today is all about a compact size packing a punch in terms of hardware and software specifications.
So, if you are thinking of upgrading to a laptop with all of the next-gen features, then hold on before spending your emergency fund on getting that latest piece of hardware. In this article, we will look at all the points that make getting a laptop on EMI so much better as compared to making an upfront payment.
No Need for Upfront Payment
There are plenty of zero down payment schemes in the market these days, that doesn’t require spending even a penny on getting a brand-new laptop. These pay later shopping schemes are designed for the benefit of the end consumer in an ever-growing competitive market where every manufacturer wants the maximum market share. So, rather than paying upfront using your savings or emergency fund; it’s best to go in for these schemes and preserve that lump sum amount in your account for rainy days.
0% Interest and Maximum Tenure
These zero down payment schemes are often available at 0% interest rates so you only pay the actual value of the laptop on emi, and nothing extra. Moreover, the tenure is spread over a longer period to help you pay off the pay later shopping EMIs without any additional stress on your wallet. This might even allow you to buy a laptop that’s more advanced than the one you were initially thinking of buying due to the lower interest rates, and longer repayment tenure that you are getting.
It’s as simple as filling up some basic KYC details for loan approval. The process is simple enough that even first-time buyers would find it incredibly convenient. All you need is an ID, address proof, and a good credit score to qualify for most consumer durable loans.
No Need for a Credit Card
If you don’t have a credit card, that’s not even an issue. Unlike earlier, when it was next to impossible getting a consumer durables loan without a credit card; times have changed now. You can get your loans approved without a credit card, and if your bank allows you may even be able to buy a laptop on EMI using your debit card.
Seasonal offers allow consumers to get the gadget of their choice at incredibly discounted rates. Be on the lookout at retail stores and eCommerce sites for such offers during festivities to save big on your EMIs. So, if you had a laptop on your wishlist, it’s best to wait for it a little bit longer for these offers to kick in.
As you may have guessed by now, getting a laptop on EMI using buy now pay later schemes is not a complicated process at all, and helps you save a significant amount of money by allowing you to purchase the gadget without upfront costs, sometimes at 0% interest rates, and with long repayment tenures.
So, don’t spend your hard-earned money all at once on getting that laptop, it’s always better to make little repayments and put that lumpsum amount into better things, such as investing!