Hire purchase is one of the many financing options for consumers looking for household or business assets. It offers an alternative for customers unable to purchase expensive items outright. A hire purchase agreement allows for spreading the cost of items into small and affordable installments.

Why Choose Hire Purchase for Acquiring Household Items

A homeowner looking to improve their home can benefit from choosing a hire purchase agreement. Some of the items we need to improve quality of life may prove expensive. However, with a hire purchase, you can add quality furniture, kitchen appliances, electronics, and appliances without much of a hassle.

In a hire purchase agreement, the homeowner needs a fraction of the cost as a deposit. After paying a deposit, you will take home the asset and you have the right to use it. The remaining cost is spread out to several months. This means you only pay a small fraction of the cost every month. Hire purchase agreements are affordable and flexible.

Transforming Lives with Accessible Hire Purchase from Kenya Credit Traders

Hire purchase as a financing option offers an opportunity to improve the quality of life and transform lives. One of the ways KCT is transforming lives with accessible hire purchase is through promoting affordability. Hire purchase allows a buyer to acquire assets that are expensive and out of reach in a cash purchase. The chance to spread the cost into small affordable payments makes it easy to find household items that improve quality of life.

Accessibility of the hire purchase deals is also part of the reasons why hire purchase is transforming lives in modern times. Traditional loans and other financing options can prove hard to obtain. Traditional banks need you to have an impressive credit score to get a loan. Saccos also demand that a customer save with them before acquiring financing. On the other hand, your credit score doesn’t affect your chances of acquiring assets on hire purchase terms. The asset you are acquiring is collateral for the hire purchase deal. Hire purchase is thus more accessible than other financing options.

Hire purchase deals are flexible. The dealer tailors the hire purchase terms to ensure that they suit your needs. The duration of the agreement, the amount one pays as a down payment, and the installments will be tailored to suit your financial goal.

Check out our educative blog to learn more about hire purchase deals.