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Any homeowner in the market for household items needs to consider hire purchase financing. There are numerous benefits a homeowner is set to enjoy by opting for a hire purchase deal. In this post, we will check the benefits of choosing Kenya Credit Traders when purchasing household items.

Why Hire Purchase?

There are items that we need in our day-to-day activities to make our homes more comfortable and functional. Different electronic devices such as smart TVs, DVD players, subwoofers, and home theaters will work to make a home more entertaining. One can watch games, movies, and television programs from the comfort of home. There is a wide variety of kitchen appliances that we also need. These include refrigerators, cookers, blenders, and water dispensers. Dishwashers and washing machines are also equally important in our homes.

While we need all these appliances and devices, they do not come at cheap prices. They will cost several thousands, thus the need to ensure that one makes the correct financial decisions. Hire purchase is the best way to acquire these devices due to the many benefits that one is set to enjoy.

With a hire purchase agreement, one only pays a small fraction of the price of the item they need. This payment is referred to as a down payment. After paying the deposit, one acquires the items and clears the remaining cost in installments.

Benefits Of Choosing Kenya Credit Traders for Hire Purchase

When looking to add household items to your home, it is essential to find a reputable dealer to help you achieve this goal. If you are taking into consideration hire purchase financing, there is a need to find a reliable hire purchase dealer. This is a dealer that can guarantee you quality services.

The number one reason to choose KCT for your hire purchase is reliability. We are a reputable hire purchase shop that has been providing hire purchase services for years. Check our Facebook page for comments from customers who have enjoyed our services in the past.

Another reason to opt for Kenya Credit Traders when buying household items on hire purchase is accessibility. We pride ourselves in having more than 50 shops countrywide. This means it is easier to find products that you need at a shop near your locality.

We have many articles educating you on hire purchase deals on our blog page.

What is hire purchase?


Hire purchase is one of the payments methods available in the modern Kenyan market. If you are looking to purchase appliances, furniture, electronics, and other expensive assets for your home, the price might be a bit high. This means that one might be unable to purchase such products and pay all the required cash at once. Hire purchase allows you to pay a fraction of the total amount initially, known as a deposit or down payment. You will pay the remaining balance within a set duration, and in various installments. The deposit is paid initially when the product you require is delivered.

How Does A Hire Purchase Agreement Contract/Agreement Work?

If you opt to purchase a certain asset for your home using a hire purchase agreement, you will be required to pay the deposit but not the whole price. After paying your deposit, you will have the right to use the asset. However, the ownership of the asset remains with the seller. After one pays the down payment, one will need to pay the set installments with interest. The terms and conditions relating to the period of repayment are decided before one signs the agreement. The ownership of the appliance, furniture, or electronics will only be transferred when one completes paying the installments. This means that the asset can be repossessed by the seller if the buyer fails to pay the installments.

Types Of Hire Purchase

Hire purchase is usually divided into two categories

  • Industrial hire purchase: In this case, the assets are purchased by a company or a business. This usually involves purchasing high-end machinery.
  • Consumer high purchase: Kenya Credit Traders Limited specializes in this type of high purchase. It usually involves a consumer purchasing personal assets to furnish their home. Whether you need furniture, electronics, kitchen appliances, or other essential assets, this is the ideal payment method.

Visit our site to view products available on hire purchase terms.