When you need to purchase an item for your home or business and you do not have all cash at hand, it is worth considering utilizing hire purchase agreement. There are many benefits of hire purchase for a consumer. It is a great way to purchase high value assets quickly since it helps a consumer to spread cost over an agreed period.
In hire purchase, a consumer acquires assets immediately after they make a down payment. After paying the deposit, the customer is allowed to acquire and use the asset. The balance is paid in installments, and at the end of the hire purchase agreement, the hirer becomes the owner.
How Hire Purchase Is a Smart Choice With KCT
Financing is one of the key considerations when shopping for high value assets. In the past, cars and homes were the only assets financed using hire purchase. However, in modern times, there are plenty of consumer goods you can acquire through hire purchase. From TVs, refrigerators, kitchen appliances, and other household items, you can create your dream living space using hire purchase deals at KCT.
The number one reason why hire purchase is a smart choice with KCT is that it allows you to spread cost. When you need a refrigerator for your home, even the smallest one will cost you in excess of Ksh 15000. When using hire purchase, you can purchase even a larger capacity refrigerator with a smaller fraction of the cash. After paying the deposit, one will be paying monthly installments to clear the balance. This will be helpful since you will be paying a fraction of your income and use the remaining balance to cover for your other expenses.
Another benefit of purchasing consumer goods on hire purchase is the chance to purchase quality assets. When you do not have enough cash to purchase a quality asset, you might be forced to purchase a low-quality one. However, with hire purchase, you have the chance to purchase high-value and quality appliances and electronics. You will only require a fraction of the total cost to pay as the deposit. You can clear the balance in the form of installments while using the asset.