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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.

A TV is one of the assets that you can’t miss in virtually any living room in Kenya. It does not only provide us access to information through news, lifestyle programs, and entertainment, but it also brings the family together.

Benefits of purchasing a TV stand

Purchasing a TV stand will work to enhance the overall appearance of the living room. However, this will require you to find a perfectly sized TV stand. Investing in a TV stand enhances the functionality of your living space as well as its aesthetics.

Another benefit of investing in a TV stand is that it works to enhance your viewing angle. You do not have to experience a hassle when watching your favorite TV program.

Here are some vital aspects to check when finding a TV stand.

1.      Size

One needs to determine the available space in the living room before they purchase a given TV stand. You do not want to pay for a TV stand that doesn’t fit in your home. It is also vital to consider the size of your screen before investing in a TV stand. A small TV stand can lead to accidents that end up damaging the TV unit. On the other hand, a TV stand that is too wide for a small screen will not be adding any aesthetic value or to the functionality of your living room.

2.      Materials

TV stands come in a variety of  materials. Metal and wood are the most common materials used to make TV stands. If you are looking to achieve a classic or rustic appearance for your living room, TV stands made from wood will be the best choice. Ensure that the TV stand is made of quality wood to enhance its durability. If you are looking to give your living space a modern look, a metallic stand will be the best option.

3.      Cost and payment options

Having a budget when in the market for a TV unit is very essential. It helps ensure that you do not overspend on any furniture piece. However, choosing less expensive models might mean that you are settling for low-quality stands. It is essential to ensure you get value for your money.

If you do not have all the cash to purchase a TV stand, the best dealers allow you to utilize hire purchase payment plans. At Kenya Credit Traders Limited, we allow you to make a deposit, usually a small fraction of the total cost of the TV stand, before we deliver the unit. You will clear the balance in monthly installments as you enjoy the benefits of the TV stand.

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When you want to purchase something for your home but you do not have all the cash at hand, then it is worth considering a higher purchase mode of payment. Hire purchase is a great way to get the asset that you want even when you do not have all the required money.

How does hire purchase work?

When you opt for a hire purchase to buy assets such as appliances, electronics, or furniture for your home, you will only be required to pay a deposit. This is usually a fraction of the total price of the asset you intend to purchase. According to the agreement between you and the seller, you will be required to pay the balance within the set duration. In the case of personal assets, the installments are spread out over several months. This helps you to spread out payment. After paying the deposit, the asset you need will be delivered to your home. However, its ownership will be transferred to you when you pay all the installments.

Advantages of hire purchase

Spread out the purchase cost: The number one reason to choose hire purchase is that you will spread out the cost of buying the assets that you require. You do not have to pay one big lump sum for the smart TV, furniture, or kitchen appliances. This is convenient especially if you are paid monthly as you can easily plan for the payment.

Get the item once you sign the agreement: In a case where one wants to purchase items on cash terms, they might need to save several months before ever acquiring the asset. On the other hand, when you choose to hire purchase, after paying the deposit and signing the agreement, you will have the right to use your asset. You do not have to wait until you have saved enough.

Get full ownership after the last installment: In the case of lease agreements, one only pays installments, but they never get the ownership of the asset. On the other hand, a hire purchase functions like a rent-to-own agreement. You will be using your smartphone, subwoofer, or even kitchen cooking gas while paying the installment. After the last installment, you will have the ownership transferred from the seller. This is a better alternative to leasing items.



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.