Empowering Kenyan Households: The Rise of Credit Traders in Hire Purchase for Essential Household Items

Homeowners looking to acquire household items in modern times will always have options. In the past, cash purchases were the only consideration for homeowners. However, the rise of credit traders in Kenya has changed the household items market by providing homeowners with another option.

How hire purchase for household items works

Hire purchase offers a favorable way to acquire and pay for household items in modern times. The first step involves the homeowner determining the items they need for their home. Plenty of assets are available on hire purchase terms, including furniture, electronics, appliances, and gadgets. After identifying the items, one intends to purchase, the second step is finding a hire purchase dealer selling the items that you need.

To acquire household items, the homeowner is required to sign a hire purchase agreement. This is a sales agreement between the buyer and the credit trader. It highlights the rights, duties, and responsibilities of the two parties involved. The agreement also lasts until the buyer makes all the necessary payments and the title of the items is transferred to the homeowner.

The Rise of Credit Traders

There is an increase in the number of credit traders in Kenya providing items on hire purchase terms. These include mobile phone dealers, boda boda dealers, solar systems providers, and household items dealers. The rise of credit traders coincides with the demand for various items in the Kenyan market. More people continue to embrace credit trading, especially in modern times when the economic situation doesn’t promote savings.

Credit Traders allow homeowners to acquire items without paying for items in cash. They only pay a deposit, as low as 15% of the total cost of the items. After paying the deposit, one acquires the items and has a right to use them. The buyer clears the balance in installments.

The rise of credit traders has made the process of acquiring household items easier for homeowners. One no longer needs to save money to acquire items in cash. With credit traders in Kenya, such as KCT, you can acquire household items at only a fraction of the cost. The best part about credit traders is that you end up as the owner of the items.

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