Disadvantages of buying on credit

The portal explains that the purchase of off-plan housing can be a very interesting option for those younger buyers who do not have the necessary savings to pay the down payment for the house and are not in a hurry to live in it. Thus, Fotocasa summarizes the advantages of this type of real estate in the following points:

Ease of payment. In the off-plan purchase, only 10% of the total amount of the property will be required to be paid when signing the contract. The other 10% will be paid in different installments spread throughout the construction period.

6. Check that the purchase contract includes: price with VAT separately, date of delivery of keys, penalty to the promoter for failure to comply with the delivery date, check the quality report.

Advantages and disadvantages of buying on credit

This time we will explain the pros and cons of making your purchases and paying cash or on credit. With this you will have important information that will help you decide which option is the most convenient for you:

Paying cash is an option that many Mexicans prefer, since, if they have the economic solvency to do so, they will not have to worry about paying time, interest, etc. in the future. This form of payment is very good, especially when the good you are going to buy will not last long, such as food or clothes. This way, even if it finishes or breaks, you will not have to keep paying for something that no longer exists.

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One of the cons that many people have reported is that when they want to have cash at some ATMs for their purchases, they have received less money or the ATM “swallows” their money. Although some have been able to get it back, the wait for clarification with the respective bank has been tedious and time-consuming.

This form of payment can be very convenient, as long as you pay on time. It is highly recommended if what you are thinking of acquiring is a good that you can enjoy for a long time, such as a car, a television, or new furniture for your home.    One of the advantages of buying on credit is that in addition to paying in installments, you can take advantage of promotions such as interest-free months, which will allow you to pay at a rate that will not leave your pockets in zeros. In this case, you enjoy your purchase for a long time, even before you finish paying for it.

Cash payment advantages and disadvantages

But the end of subsidies brought with it not only a transformation to payment in installments but also greater transparency in pricing policy, which has resulted in more information to know the real discounts of a mobile along with its tariff, in fairer penalties and in the general end of the existing inequality between offers to attract new customers and those aimed at renewing the mobile of existing customers. In addition, we have also indirectly benefited from the arrival of unlocked cell phones to operators and greater flexibility to change cell phones.

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Until now, the question had been whether to buy a cell phone unlocked or with a contract, but the evolution in the way of selling mobiles makes it necessary to analyze the advantages and disadvantages of buying a cell phone from the operator or directly unlocked.

But the permanencies are necessarily logical if we understand them for what they are: a way to ensure the profitability of an investment and a good use of them can benefit all parties, although they must be optional and fair. Aspects that have been ironed out since the end of subsidies.

Cash and credit

The big question is what differentiates one from the other? Credit allows you to pay later. That is to say, it allows a deferred payment. Debit cards, on the other hand, only allow payment at the time of purchase, with the current balance of the accounts in the cardholder’s name.

For a long time, debit cards have been the most widely used method, both for private and corporate accounts. It not only functions as a financing instrument, but is also used as a substitute for cash. For some time now it has been losing ground to credit, partly because it is more profitable for the banks, although for the consumer, who is looking to save as much as possible, it is not the best option.

As mentioned above, the credit card allows you to buy products without having to pay on the spot, as this is financed by the financial institution. Consultations are also made through the entity’s e-mail, as above.