Pros and cons of installment payments, benefits of installment payments

Installment Pros:

1: Pay in installments, in the case of insufficient funds, consume in advance to complete your consumption goals.

2: Installment payment, the procedure is very simple and fast, and no third-party guarantee is required.

3: Installment payment, the date and amount of each payment are very fixed, timed and fixed, and the bill details can be understood in detail.

4: Installment payment, you can make reasonable arrangements for your own economic control, so that you always have a good heart, and the repayment can also be done step by step.

5: Installment payment, which can improve the real creditworthiness of the bank.

Installment Cons:

1: Installment payment, more interest than a lump sum payment, the longer the time, the more interest.

2: There is a handling fee for installment payment, and a handling fee will be deducted for early repayment, and the longer the installment, the higher the handling fee.

4: Installment payment, overdue serious bank will pull into the blacklist, which will have a great impact on your work, study and life.

5: Installment payment will make people have repayment pressure, and stable economic income is more important.

Installment payment is a common payment method for modern people. Many times, we want to buy a product or enjoy a service, but we don't have enough funds for the time being, so we can use the installment payment method to transfer the payment pressure to a later period of time. There are many installment payment platforms on the market, but how can you choose the right one for you?

First of all, we need to determine the amount of funds we need, if you need a small amount of funds, you can choose some loan platforms with a lower amount. If you need more money, you can focus on platforms with higher loan amounts.

Secondly, we also need to take into account the number of installments we want to install, and most of the loan platforms on the market have an installment period of between 3 months and 3 years.

The most important point is that we need to choose some regular big brands, and the loan products launched by regular platforms will be more reliable and formal.

Du Xiaoman Finance will effectively implement the call of the state to support small and micro enterprises to tide over the difficulties, and its credit service brand has the money to spend to fully support the production and operation of small and micro enterprises, and Du Xiaoman Finance is the primary choice for most small and micro business owners when their capital turnover. It is reported that seventy percent of the credit users of Du Xiaoman Finance are small and micro business owners. Up to now, Du Xiaoman Finance has joined hands with dozens of financial partners to issue hundreds of billions of yuan in loans to small and micro business owners.

This is provided by Kangbo Finance, which focuses on the interpretation of financial hot events, the popularization of financial knowledge, adheres to professionalism, pursues fun, makes financial content that people can understand, and conveys financial value in a vivid and diverse way. Hope this helps.

Installment Benefits:

Savings can be forced through this installment payment.

You can enjoy the service in advance and satisfy the sense of pleasure.

Installment payments can boost the economy and facilitate the achievement of sales targets.

Paying in installments with a credit card to buy something that you want to buy but don't have enough cash flow at the moment is easier than applying for a loan, and the interest rate is lower.

Disadvantages of installment payments:

Installment payments can add to some people's financial worries.

Installment payments will have different handling fees and interest rates, which will increase the expenses.

You can no longer negotiate the price of the purchased items with the merchant and cannot enjoy discounts.

There is a limited range of items that can be bought in installments.

1. It has become a common phenomenon to buy a house through mortgage loans with little upfront investment. Loans, that is, borrowing money from the bank to buy a house, do not have to spend a lot of money immediately, you can buy your own house, so the first advantage of taking out a loan to buy a house is that you can buy a house with less money. 2. Flexible fundsThis method is better for loan buyers, because their use of funds can be more flexible, especially for those who just need to buy a house for self-occupation, and also reduce the pressure of raising a large amount of funds at one time.

3. The risk of small mortgage loan is to borrow money from the bank to buy a house, in addition to the buyer is concerned about the advantages and disadvantages of the house, the bank will also review the value of the house, whether there is a mortgage or not, etc. In this way, the insurance of buying a house is improved. As a special sales contract, the installment sales contract refers to the payment of the price by the buyer to the seller in installments in accordance with the contract after the conclusion of the contract.

The essential feature of an installment sales contract is that the buyer does not pay the entire price in a lump sum, but pays the price in installments according to the agreed time limit, which is the main basis for judging whether a sales contract is an installment sales contract. However, is it a contract of sale and purchase of installments as long as the payment is made in a different period of time? This involves the understanding of "instalments" in instalment sales contracts.

For example, the parties agree in the sales contract that the contract payment will be paid in 12 installments, each of which will be paid on the last day of each month, starting from the month in which the contract is signed. The "period" of the installment sales contract is characterized by the certainty that it can be reached, which is different from the "condition".

Legal basis: According to the relevant provisions of the Contract Law, the payment method, as an important part of the contract, should be determined by the parties to the contract through negotiation. Therefore, the Contract for the Sale and Purchase of Commodity Housing lists several payment methods for the parties to choose and apply when entering into the contract

1. One-time payment. This kind of payment method is simple and clear, and it is less affected by external forces, and the procedures are relatively simple. That is, the predetermined buyer fulfills the payment obligation at the agreed time, and the developer delivers the residence to the buyer, and the contract is completed.

This method is suitable for buyers with good economic ability, and it is also the development enterprise that wants to use it; 2. Pay in installments. This payment method stipulates that the buyer negotiates with the real estate developer to pay the purchase price in several installments; 3. Other ways. In the actual sales work, it mainly includes bank mortgage loans and housing provident fund loans.

Article 577 of the Civil Code: If a party fails to perform its contractual obligations or the performance of its contractual obligations does not conform to the agreement, it shall bear the liability for breach of contract such as continuing to perform, taking remedial measures, or compensating for losses. Article 584:Where one of the parties fails to perform its contractual obligations or performs its contractual obligations in a manner inconsistent with the agreement, causing losses to the other party, the amount of compensation for the losses shall be equivalent to the losses caused by the breach of contract, including the benefits that can be obtained after the performance of the contract; provided, however, that it shall not exceed the losses that may be caused by the breach of contract that the breaching party foresaw or should have foreseen at the time of entering into the contract.

The consequences of non-payment in installments are: the debtor needs to repay the arrears and their related interest in a timely manner; If the liquidated damages are agreed, the corresponding liquidated damages shall be paid; The breaching party also needs to bear the liability for breach of contract such as continuing to perform, taking remedial measures or compensating for losses; Other provisions of the law or other agreements of the parties, etc.