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Thread: Installments

  1. #1

    Default Installments

    I am making a trip down to Sim Lim Square to look out for installment plans for notebooks for a friend who is intending to migrate here permanently next year from Wales.

    I am still quite vague in these plans, can anyone guide me through? I mean the age-limit, the citizenship, the bank account needed, interest calculations and so on. By the way, my friend is 22 years old, Singaporean PR, returned to Wales when he was around 17 I supposed.

  2. #2
    Senior Member Canew's Avatar
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    Default Re: Installments

    AFAIK, the installment plans are for Credit Card holders only. In such cases, the cost of the purchase is divided into the number of months that you will be repaying it back (without interest).
    Do correct me if I am wrong.

  3. #3

    Default Re: Installments

    He might be referring to traditional installment plans from coy like hitachi credit etc.

    ur fren will need his income tax statement / salary slip or any proof of income of any kind if he wanna take up this kinda installment. i'm not sure wad's the rate like, could be around 4%?

    ask the shops for more info.
    if he has credit card, look for merchants with 0% cc promo..

  4. #4

    Default Re: Installments

    buy price + (3 - 5% depending on which CC company) / no of months

  5. #5

    Default Re: Installments

    Thanks bros, it seemed to me that installments don't worth it. By the way, the credit cards transcation in SLS seemed to have much hidden costs we find out only later. We have made a trip to Funan instead, and he decided to stick with his college laptop for the meantime.

  6. #6
    Senior Member Canew's Avatar
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    Default Re: Installments

    Quote Originally Posted by Slivester
    Thanks bros, it seemed to me that installments don't worth it. By the way, the credit cards transcation in SLS seemed to have much hidden costs we find out only later. We have made a trip to Funan instead, and he decided to stick with his college laptop for the meantime.
    What sort of hidden costs, Slivester? Care to elaborate?

  7. #7

    Default Re: Installments

    Dell offers 0% interest free for its notebooks. In order to qualify, you would need to have DBS, OCBC or UOB credit cards and charge to it. Just that need to learn to pay promptly

  8. #8

    Default Re: Installments

    Quote Originally Posted by Canew
    What sort of hidden costs, Slivester? Care to elaborate?
    A saleman told me that the credit card company charges for each transcation, and more costs that I wasn't really paying attention to.

  9. #9

    Default Re: Installments

    Quote Originally Posted by Slivester
    A saleman told me that the credit card company charges for each transcation, and more costs that I wasn't really paying attention to.
    The reason why pple in SLS r charging the extra 3% when ur using CC is becos their price are cash n nets price... from what i know nets do charge abit... probably less than 1% which is why most shop neglect it... but CC bank will charge them a certain percentage depends on visa/masters/amex etc... and they will only get the money at a much later date as compared to cash n nets. As for CC installment, the bank will charge a much higher service charge on the shop/company. As for shops like BEST Denki, Courts ....they are selling at Retail price... and SLS are selling at a much lower price compared to those mega electronic retail therefore if you want to go by CC or installment...they will add in the cost that the bank will charge them.

    Overall, if u compare USUALLY SLS price + installment CC % is still cheaper than the price when you get from mega electronic retails

  10. #10

    Default Re: Installments

    Quote Originally Posted by alankuik
    He might be referring to traditional installment plans from coy like hitachi credit etc.

    ur fren will need his income tax statement / salary slip or any proof of income of any kind if he wanna take up this kinda installment. i'm not sure wad's the rate like, could be around 4%?

    ask the shops for more info.
    if he has credit card, look for merchants with 0% cc promo..
    Nowadays, credit cards providing free interest installments, does anyone still go for those like hitachi credit?

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