Sometimes we find ourselves in situations in which we wonder if when paying for a product or service it is better to do it with savings or in installments. The leader of Cuotéalo del BCPEric Mas, believes that there are situations in which you can do it in parts.
When it is a product that has a long life time. If the product you are going to buy is vital for your day-to-day life, study or work, such as a laptop or an electrical appliance, and you expect to use it for several years, purchasing it in installments allows you to obtain it quickly and get the most out of it while paying for it.
When they are large and punctual expenses. Yeah If you want to pay for a vacation trip, you can finance it in the number of months it would have taken you to save for it. If possible, if the purchase is large, try to make it a personal loan and not a credit card.
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When there are alternatives that allow you to pay in installments with a better rate. Financial institutions are launching more innovative products with lower interest rates. This new type of short-term financing allows you to pay in installments in ecommerce without having to have a credit card.
The financial entity also recommends that you plan the amount of installments that you can pay monthly. Remember, also, that it is recommended that debts do not exceed 30% of monthly income.
