Shops that offer interest free installments?

[sam_always]

Just checked with Cathay, yes they offer interest-free installment plan with Citibank, OCBC and DBS credit cards.

wow... that's good news..... going to get my d70 there soon.. but if using credit card, additional 3% will be charged right inorder to get 0% free installment right?

 

[skfoo]

sam_always,

I do not think so. But you can give them a call to find out.

 

[kegler]

Just checked with Cathay, yes they offer interest-free installment plan with Citibank, OCBC and DBS credit cards.

whats the surcharge for the interest free installment?

 

[novaD70]

An old 'lo so' advice:

Do not buy such luxurious hobby items if you cannot afford! Do it within your means. Why dun save first then buy!

 

[Gymrat76]

Sometimes its not about if you can afford or not.. For me, an interest-free installment plan is a good way to purchase something which I need to use NOW, without having to feel the pinch of having to pay for it in one go. For example, buying a good CF tripod that will last you years and years, in the end I still will pay the full price regardless of whether you're paying by installment or not, just that with the installment plan, I can use it now, rather than having to wait while I save for it. Not a good idea to apply this to EVERYTHING you buy though, or you're gonna end up paying for installments every month without room to buy other stuff :bsmilie:

An old 'lo so' advice:

Do not buy such luxurious hobby items if you cannot afford! Do it within your means. Why dun save first then buy!

 

[Gymrat76]

They do ?? :bigeyes:

Yes, just got something from them recently. No surcharge, 0% interest

 

[espn]

The bad thing about instalment is that you tend to forget easily when it comes to spending power and you tend to spend the money you want to set aside for payment as well.

My advice is still pay at one shot, the pinch is there, but it really saves a lot of effort down the road.

 

[binbeto]

Paying by installment is a dangerous thing.

Consider properly before you plunge in.

If you are out of job, how are you going to pay the monthly installment?

Yes, you can sell the stuff when that happen. However, stuffs like DSLR price drop a lot in one year. *Look at 10D, $1K different in 1 year time*

 

[Gymrat76]

The bad thing about instalment is that you tend to forget easily when it comes to spending power and you tend to spend the money you want to set aside for payment as well.

My advice is still pay at one shot, the pinch is there, but it really saves a lot of effort down the road.

Well, everyone has different ways of managing money, so go for whichever is more comfortable for you ;p

 

[Gymrat76]

Then the same logic applied to buying a house, car etc... So start saving, maybe you can afford to pay in full for your house/car etc before you hit 50

Paying by installment is a dangerous thing.

Consider properly before you plunge in.

If you are out of job, how are you going to pay the monthly installment?

Yes, you can sell the stuff when that happen. However, stuffs like DSLR price drop a lot in one year. *Look at 10D, $1K different in 1 year time*

 

[kegler]

Yes, just got something from them recently. No surcharge, 0% interest

but the price of ur camera isit still a good price? or isit higher than other place?...could it be them markup the price already? cause i think most of the shops selling cheaper price is only for nets n cash....if use visa...usually its a 2 or 3% more....

 

[Gymrat76]

Err, didn't buy a camera from them la

but the price of ur camera isit still a good price? or isit higher than other place?...could it be them markup the price already? cause i think most of the shops selling cheaper price is only for nets n cash....if use visa...usually its a 2 or 3% more....

 

[binbeto]

Then the same logic applied to buying a house, car etc... So start saving, maybe you can afford to pay in full for your house/car etc before you hit 50

Housing is a neccessity mah. Different from camera gears.
If you are using CPF, they do let you stop payment when you are jobless. However, you need to write in to them.

For car, dun loan and buy if you can help it. But some need it for job purposes or family usage. So no choice have to loan and buy.

Anyway, it's your money. What you gonna do is eventually up to you.

 

[kegler]

Err, didn't buy a camera from them la

same lar...as long as u pay by installment...what u bought btw...considering getting a cam by installment... not so heart pain...heehee...

 

[Terence]

I've been known to provide installment plans on some of my sales too

Usually for stuff > $1000.

 

[Adam Goi]

same lar...as long as u pay by installment...what u bought btw...considering getting a cam by installment... not so heart pain...heehee...

... then again during the repayment when you see your camera depreciate in value due to the release of newer models to replace it, also :bheart:

 

[Gymrat76]

Ya, thats why I rather buy something that will not depreciate that much over time, and even if it does it doesn't matter because I'll probably use it a long, long time.. what did I buy? A good ballhead and tripod (well, tripod not yet, but soon)

GYR

... then again during the repayment when you see your camera depreciate in value due to the release of newer models to replace it, also :bheart:

 

[Brainofj]

one thing people fail to factor-in in these credit card 0% interest installment purchases is the credit card annual fee. If yr installment plan is more than 12 months then its likely that you will need to pay the annual fee?

 

[icyflame]

Just to add my 2 cents

I do pay some of my things via installment o% 24mths
it's not about not having the money to pay for it

but instead of dumping 2-3k on a purchase, i rather invest the 2-3k and generate returns from it. this means that even if i have to pay 5% additional via installment i will chose installment (unless the difference is too large)

i majored in financial analysis in uni and i believe in opportunity cost. the opportunity cost of me not investing is much higher than the cost incurred via installment

in fact i keep a very low cash portfolio as i am still young and can afford to be aggressive in my financial portfolio. This is coupled with the fact that i have a relatively stable job

of cuz i make sure that i pay up in full every month for my credit cards as the interest is amazing if i miss the payment.

Therefore, my advice to those who have strong financial discipline, installment plans method is viable, esp if the o% interest is equal or close to the best price you can get

 

[majere2sg]

one thing people fail to factor-in in these credit card 0% interest installment purchases is the credit card annual fee. If yr installment plan is more than 12 months then its likely that you will need to pay the annual fee?

Usually people who use their credit card to pay for the installments will keep using the card ? It not like you applied for the card just to pay for the installments ? :dunno: