A refrigerator is one of the appliances that one requires in a kitchen. There are many benefits to experience when you add a fridge to your kitchen. We need a fridge to keep our foodstuff fresh and prevent spoiling which can lead to wastage. Most farm produce is perishable, and we need to preserve them well to avoid loss from wastage. A fridge can also keep your family refreshed by ensuring that cool drinks and water are available to your family at any given time.

Acquiring A 90L Fridge on Hire Purchase

When out to purchase a fridge, one will be eager to learn the financing options. In most cases, one might intend to save enough cash to purchase a fridge. However, this might mean that you will have to wait until you save adequate funds. Another option involves taking a term loan to finance the purchase of a 90L fridge. The downside of loans is that they come with high interest rates. The best option when you do not have cash but you need a fridge is to find a hire purchase dealer such as Kenya Credit Traders. Hire purchase allows you to acquire a fridge at just a fraction of the cost and you will clear the balance in the form of installments.

Maximizing The Hire Purchase Value of Your Fridge

When you invest in a fridge, there is a need to take proper care of it. This will not only ensure efficiency, but it also keeps the value of your fridge high. Here are some useful tips for maintaining your fridge.

1.      Always close the refrigerators door quickly

Every time when you open the fridge it is advisable to close the door quickly. Keeping the door open for a long duration can lead to the fridge losing the ambient temperature. This makes it hard to cool items inside the fridge and in turn, leads to higher power consumption and electricity bills. Also, check the gasket sealing the door and ensure it is sealed properly to avoid cold air leaking.

2.      Arrange and cover any items in your fridge properly

It is advisable to cover food and other things in plastic containers with security fitting tops. This is useful in reducing moisture inside the fridge and preventing odors and funny smells. Arranging items ensures you can remove them faster, thus saving time when opening the door, leading to higher energy efficiency.

3.      Avoid blocking vents inside the fridge

It is essential to have adequate clearance between vents when storing items in a fridge. This makes it possible for cool air to pass through and also increases the efficiency of the fridge.

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Adding a 90L fridge to your kitchen space is one of the ways to enhance the quality of life in your home. There are plenty of benefits a 90L fridge brings to your home when you choose to invest in one. One such benefit is that you can keep your food products fresh. Vegetables and other farm produce that are perishable require preservation and a fridge does the job for you. You do not have to incur losses when your food supplies spoil as a result of a lack of proper preservation.

Adding a fridge for your home or office also helps you keep your drinks cool. This is usually helpful during the hot summers. Taking a cool drink way not only helps refresh your body, but also helps you stay active. Finding a 90L fridge doesn’t have to be a daunting task. Here are some useful tips from KCT to help you when investing in one.

90-Litre Fridge Buying Guide

·         Layout

When purchasing a 90L fridge, one of the aspects to keep in mind is the layout. 90L fridges come with either a single door or double doors. Depending on the items you plan to preserve in your fridge, ensure that the layout of the fridge you select is perfect for your kitchen.

·         Energy efficiency

There are numerous brands and models for one to choose from when in the market for a 90L fridge. These different models do not offer the same level of energy efficiency. No one wants to invest in a refrigerator that causes a rise in their electricity bills. Find out the energy efficiency rating of the brand or model you intend to purchase before investing.

·         Cost

Without a doubt, one will always have a budget when looking to purchase a 90L fridge for their home. Different models come at different costs, depending on the features of the refrigerator. Cheap models might not be efficient, while expensive models do not always guarantee quality. One needs to ensure they get value for their money.

·         Payment options

When looking to purchase a fridge, it is also essential to check the payment options available to you. When you do not have all the cash to purchase a fridge, you can find stores that sell them on hire purchase terms, such as Kenya Credit Traders. Purchasing with KCT on hire purchase terms helps spread the cost over a long period, allowing you to free cash for other expenses.

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A refrigerator is one of the appliances we require in our homes to enhance our quality of life. There are plenty of benefits one can expect if they invest in a quality 90L refrigerator. One such benefit is food preservation. Most farm produce and kitchen products are perishable and the only way to keep them fresh is to have a fridge. Another big benefit of owning a refrigerator is that they help us cool our drinks. Nothing feels better than a cool glass of water or any other beverage during the hot and scorching summers. One feels refreshed and ready to handle the tasks at hand.

Hire purchase guide for 90L fridge

Whether you are looking to purchase your first fridge or you are looking to upgrade the current one, one of the aspects you need to keep in mind is the payment options available to you. In the past, most dealers have only accepted cash payments for high-value assets. However, in current times, it is possible to acquire appliances and other household assets on hire purchase contracts.

Leading hire purchase dealers such as Kenya Credit Traders make it possible to acquire a 90L fridge even when you do not have all the cash for a cash sale. Under a hire purchase agreement, one only requires a fraction of the total cost of the 90L fridge. After paying a fraction of the total cost, you acquire the fridge and you are allowed to use it. The remaining cost of the asset is paid in the form of installments.

Benefits of hire purchase for a 90L fridge

One of the pros of a hire purchase agreement for a 90L fridge is that you can acquire it at just a fraction of the total cost. With as low as 10% of the total cost, you can acquire the fridge for use in your home. However, the ownership of the fridge is transferred from the hire purchase dealer to the buyer after paying all the installments.

Another benefit of a hire purchase arrangement when purchasing a fridge is that you spread the cost. At times, it is impossible to raise all the money to make a cash purchase. When you opt for a hire purchase, you have the chance to spread the cost of the fridge over a long duration. This frees you some cash that you can use for other expenses in your home.

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Hire purchase is quickly becoming one of the best ways to pay for assets in Kenya. The current state of the Kenyan economy has forced people to consider their options when in the market for a variety of items. High taxation, high inflation, collapse of businesses, and political instability has not only affected employed persons, but the effect is felt across all sectors.

In the past, most people have only considered cash payments when acquiring assets. One would save money and after having enough amount purchase the asset that they require. However, one is likely to use almost all their income to cater for their expenses and essential purchase, thus making it hard to acquire assets that need a high amount of money. This is part of the reasons most buyers are settling for hire purchase agreements. Keep reading as we discuss pros and cons of hire purchase agreements.

Benefits of hire purchase

·         Spread the cost

With hire purchase agreements, one has a chance to spread the cost of the asset over a given duration. With cash payments, you will need to pay the full amount before acquiring the assets. On the other hand, hire purchase allows to make payments in installments thus allowing you to budget appropriately and spread the cost depending on your income.

·         Fixed interest rates

When one opts to purchase assets through cash payments, they might opt for a loan to acquire the cash. The downside of the loans is that they are regulated by The Central Bank of Kenya. Changes in the regulations might cause an increase in the interest rates, thus increasing the total payments of the assets. Hire purchase agreements come with fixed interest rates. With the uncertainty in the current Kenyan economy, fixed interest rates ensure that you can plan ahead and make timely payments for the assets.

·         Own the asset at the end of the hire purchase agreement

Hire purchase allows you to acquire an asset immediately after making the down payment. However, one becomes the owner after they complete payments by paying all the installments.

Disadvantages Of Hire Purchase Agreements

·         The total cost is higher than cash payments

One of the downsides of hire purchase agreements is that the total cost is usually higher than in the case of cash payments. The increase in the total purchase price is as a result of the interest rate charged on the installments.

If you are looking for quality household items to purchase on hire purchase terms, visit our website. Also, follow Kenya Credit Traders on Facebook to learn more about our products.

There is no doubt that the Kenyan economy is not at its highest at the moment. There are a variety of factors that have contributed to the economic downturn. One such factor is the Covid-19 pandemic. Almost three years after the first Covid-19 case was reported in the country, the country continues to feel the effect of the pandemic. While normalcy has returned in almost all sectors, not every business or individual has recovered from the economic disruption caused by the pandemic.

The past general election is also part of the factors that have contributed to the economic downturn in the country. Elections are always hotly contested in this country, and in most cases, cases of political instability follow the conclusion of the general elections. Weekly riots and protests have affected businesses and lowered productivity, thus contributing to an economic downturn.

The Effects of Economic Downturn in Kenya

Almost every sector suffers when the country experiences an economic downturn. This in turn affects the livelihoods of the Kenyans. Cases of high taxation, as the country looks to turn the economy around, means that the citizens end up with less cash in their pockets. Inflation also means that you can only acquire a few assets with the little savings you are able to make. This means that there is a need to find a way to get around the negative impact of the economic downturn.

Benefits Of Hire Purchase in Economic Downturn

Hire purchase is one of the best ways to get around the results of an economic downturn. With hire purchase agreements, shoppers have a chance to acquire assets with a fraction of the total cost. The balance after one makes a down payment is divided into daily, weekly, or monthly installments. You do not require waiting until you make enough savings to acquire a particular asset that you intend to purchase.

Another reason to consider hire purchase in the current Kenyan economy is that it comes with fixed interest rates. Inflation is one of the effects of an economic collapse. This at times leads to readjustment of interest rates for term loans. If you opt to acquire a loan to purchase a given asset, if the interest rates are adjusted, you end up paying more than you initially planned to. Hire purchase interest rates even in the economic downturn are fixed. This means that one can plan their payments ahead depending on their income.

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Hire purchase is quickly becoming one of the best ways to purchase assets for businesses as well as individuals. With the current economic downturn in Kenya, as well as around the globe, shoppers have had to find better solutions when looking to acquire assets. Inflation is at an all-time high, and this means that almost every person has been affected by the economic situation.

Why Choose to Hire Purchase

In the past, it was easy to make enough savings to acquire assets. However, this is not the same case in modern times, due to the inflation and high cost of living. The increasing costs of essentials and assets are not matched by our incomes. This has made hire purchase one of the best ways to acquire assets.

When you choose hire purchase, you can acquire an asset that you need immediately, after paying just a fraction of the total cost. One will make periodic payments to clear the balance. The ability to spread the cost over several months is of the best reasons to consider hiring a purchase.

Another benefit of hire purchase agreements is that you become the owner of the asset at the end of the agreement. The title of the asset is transferred to the buyer after paying the last installment. However, one has the chance to cancel the hire purchase agreement if they no longer require the assets.

Choosing The Best Hire Purchase Provider in Kenya

You will never be short of choices when looking for a hire purchase dealer. However, you will only have a guarantee for quality services if you can pick a reliable hire purchase company.

Before you look for any hire purchase dealer, there is a need to determine the assets that you require. Different hire purchase companies offer different products. If you are looking for quality household furniture, electronics, or kitchen appliances, KCT hire purchase provider is one of the best options in the country.

Accessibility of the hire purchase dealer is also part of the top considerations. While one can provide some of the required documentation online, you might need to pick assets from their offices. A hire purchase dealer without a presence around the country might cause a further increase in the cost of acquiring assets.

The reputation of a hire purchase provider is a vital factor to keep in mind when choosing. You can only enjoy top-notch services when you find a reliable hire purchase dealer. Check comments on their hire purchase dealer’s social media handles. Also, check online reviews and ratings to find out if the hire purchase company you are choosing is trustworthy.

Check a variety of assets at the KCT hire purchase provider’s website. Also, follow them on Facebook for incredible hire purchase deals.

Hire purchase is one of the best ways to acquire high-cost assets. At times, one might not have enough money to make a cash purchase. This is especially true in modern times where inflation and the high cost of living are affecting Kenyans across all sectors, making it harder to make savings. Hire purchase agreements allow you to acquire assets and pay for them later.

Hire purchase contracts are credit agreements. They allow you to acquire items that you need at a fraction of the total cost. Kenya Credit Traders, a leading hire purchase provider in Kenya requires as little as 10% of the total cost of an asset before one acquires it. The hirer can clear the balance in installments, allowing them to spread the cost.

Before opting for hire purchase agreements, there are several aspects you need to know.

What to know when signing a hire purchase contract

·         You have the right to end a hire purchase contract at any time

It is always desirable to understand your rights as well as duties when signing a hire purchase agreement. Always invest effort and time reading the hire purchase contract before signing it. One of the rights the hirer has is the right to purchase the hire purchase agreement at any time.

When you acquire the assets, before you make all the payments, you are considered to be hiring the assets. You do not own them. In a case where you no longer need the assets, you can end the agreement and return the asset to the dealer.

·         You only own the items after making the final payment

One of the benefits of hire purchase agreements is that you acquire the assets at just a fraction of the total cost. You are authorized to use the asset immediately paying the down payment. However, ownership of the asset is only transferred to the buyer after making the final payment. This means that you cannot sell the item during the repayment period. Any transaction involving the asset can only be authorized by the hire purchase company during the repayment period.

·         The dealer can repossess the asset when you don’t keep up with payments

Since the dealer remains the owner of the assets, they have a right to repossess the items when the hirer fails to make payments. It is always advisable to settle for a repayment contract that works for you depending on your income.

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If you are in the market for household goods, you will always have options. There are plenty of stores selling household items in Kenya. However, these assets vary in quality. One will be eager to get the best quality to bring home. Apart from quality, one also focuses on finding the best deal. Some of the quality household items will cost more than one can afford, and this has led to buyers settling for low-quality goods. However, in modern times, you do not have to settle for less, considering that there is a better way to make payments in the form of hire purchase financing.

What is a hire purchase?

Hire purchase is known as lipa mdogo mdogo or lipa pole pole in Kenya. This is a method of payment for goods where one only initially pays a fraction of the total cost of the asset. This is usually as low as 10% of the cost. Afterward, one pays the balance in the form of fixed installments. Installments can be daily, weekly, or even monthly payments.

Pros of hiring household goods under hire purchase

There are plenty of reasons to consider hire purchase when looking to buy household items. Here are some of the benefits.

·         Access quality household goods

If you opt to purchase items in cash, you will be limited in choice by the amount of money available to spend. However, with a hire purchase, one gets the chance to access expensive and quality items and use them right away.

·         Spreading the cost over a fixed term

The option to clear the balance in installments allows you to spread the cost of the goods. One can choose daily, weekly, or monthly payments depending on their income. This helps you avoid using all the cash in purchasing household items, which you can use in paying other bills or other expenditures.

·         Fixed interest rates

With hire purchases, the interest rates are fixed throughout the payment term. The interest rates are not affected by changes in rates set by the central bank of Kenya. One thus knows the total cost of the household items and thus budget accordingly.

·         Own the asset at the end of the agreement

Unlike leasing where the asset is returned to the owner, with hire purchase, the buyer becomes the owner after making the last payment.

Disadvantages of hire purchase

Here are some downsides of utilizing hire purchase to acquire household items.

·         The loan is secured against the goods

Hire purchase agreements are contracts, and one only becomes the owner after completing the payments. When one cannot afford payments, they lose the asset to the seller as well as any payments they had made.

·         Assets cost more overall

The interest rates charged on household goods mean that the total cost is higher than purchasing in cash.

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When in the market to purchase electronics, one is keen to find out the payment options available to them. At times, a buyer might be short of cash to purchase their preferred electronics outright. In the modern market, one of the best choices you can make is to find a hire purchase deal.

Reasons To Consider Electronics Hire Purchase

There are plenty of hire purchase benefits you can enjoy when in the market for electronics. One of the advantages of hire purchase is the ability to spread the cost. You only pay as little as 10% of the total cost and clear the cost in the form of daily, weekly, or monthly payments.

Another reason to settle for hire purchase electronics is the fixed interest rates charged. Unlike when you take a loan to purchase electronics, where interest rates can change and thus increase the total cost, interest rates in hire purchases are fixed. This allows you to budget in advance.

Hire Purchase Agreements

Before acquiring assets on hire purchase, one has to sign an agreement with the dealer. The hire-purchase contract works to protect both the buyer and the seller. Here are some of the contents of the electronics hire purchase agreements:

1. Terms and definitions used in the agreements. The definitions aim at ensuring that one fully understands the agreement before signing it.
2. The agreement also outlines the duties of the buyer as well as the duties of the seller. One of the duties of the seller and the buyer is to fully disclose information. The seller has the duty to deliver the items to the buyer, while the buyer has a duty to make payments.
3. The rights of the buyer and the seller. The primary aim of the contract is to protect the seller and the buyer. This is achieved by ensuring that you understand your rights before signing the contract.
4. Payments and penalties. A hire purchase agreement outlines the costs involved when purchasing electronics on hire purchase. interest rates and penalties are also included in a hire purchase agreement.
5. Information on how to cancel the agreement. Both parties have a right to cancel a hire purchase agreement. The process of canceling hire purchase agreements is a part of the agreement.

Always invest your time and effort reading through the lines before signing a hire purchase agreement. At Kenya Credit Traders, we have plenty of electronics available on hire purchase terms. Follow Kenya Credit Traders on Facebook.

Finding quality household goods is one of the ways to enhance the quality of life in your home. Investing in quality furniture not only makes your space functional but also increases the value of your home. To make your home lively, you also require spending on the best electronics such as TVs, home theaters, subwoofers, and others. Other appliances such as refrigerators, microwaves, blenders, dishwashers, and washing machines also make our lives more comfortable.

Purchasing household goods on hire purchase

Most of these items that we require in our homes will cost tens of thousands. At times, the high cost of these assets might prove prohibitive to any homeowner. However, even when you do not have all the cash, it is possible to acquire any household goods through hire purchase. This is an agreement that requires paying a small fraction of the total cost and clearing the rest of the cost in installments. Spreading the cost allows you to budget appropriately and frees up some cash for your other expenses.

Benefits of timely payment on household goods under hire purchase

When you sign a hire purchase agreement, one of your obligations as the hirer is making periodic payments, known as installments. This can be daily, weekly, or monthly payments. There are benefits that come with making timely payments of the installments.

One of the benefits of timely payment of your installments is avoiding penalties or late fees. When you are charged penalties for late payment, they will end up increasing the total cost of the assets.

It is also vital to make timely payments of the installments to maintain a good relationship with the vendor. Timely payments demonstrate to the vendor that the hirer is reliable and responsible, and in case you require other household goods in the future, it will be easy to get a hire purchase agreement.

The best part about timely payment is that you eliminate the risk of losing the goods to the vendor. When you do not make payments within the stipulated time, the vendor might repossess the asset ad you end losing all the payments you have made to that point.

How to make timely payments for household goods under hire purchase

·         Draw a budget

To ensure that you make timely payments for the goods you acquire from a hire purchase vendor, there is a need to draw up a budget. Hire purchase agreements come with fixed interest rates and this means you make fixed payments in installments. Drawing up a budget for your monthly expenditure will help you avoid missing any payments to the vendor.

·         Choose an affordable installment payment plan

Shorter hire purchase agreements mean lower interest, but they are likely to cause financial strain to the hirer. Settling for low installments will provide you with an affordable plan and help you avoid missing any payments.

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