Payment plans or options remain a key consideration for home and business owners in the market for long-term assets. High-quality assets are expensive, and it is not always possible to acquire them through a cash purchase. Some homeowners turn to lending institutions for short-term loans. The major downside of term loans is the high-interest rates they attract. The best choice if you do not intend to purchase an item outright is a hire purchase agreement. Here’s why you should consider hire purchase options with KCT.

Why opt For A Hire Purchase Contract

Hire purchase agreements are the ideal option for consumers in the market without all the cash to purchase items outright. A hire purchase contract is designed to allow the consumer to pay the total cost of the items in installments. The installments can last for several months, thus allowing you to spread the cost. By opting for the hire purchase options with KCT, there are several benefits a consumer will enjoy.

Advantages Of Hire Purchase

One of the best reasons to settle for a hire purchase deal is that you will have access to quality assets. In the case of a cash purchase, the consumer can only purchase items within the available budget. When you do not have enough cash for a purchase, you will end up considering low-quality assets that aren’t durable. Hire purchase options available at KCT aim at enhancing affordability. By lowering the deposit up to 15% of the total cost, Kenya Credit Traders make it easier for consumers to acquire almost any item. The latest technology gadgets and appliances are not only durable, but they also save your money in the long run.

Another important reason to consider hire purchase options when purchasing assets is the fixed repayments that come with a hire purchase agreement. Hire purchase contracts interest rates are fixed. This means that even changes in economic times won’t affect the total cost of the items you are acquiring. By having fixed repayments, a consumer can budget their finances appropriately.

Hire purchase agreements also allow you to own the items at the end of the contract. The credit traders transfer ownership to the buyer upon the completion of the payments.