What are the pros and cons of an installment purchase service?

The installment service can be what you're thinking. So you know what to buy? And what done you think of its pros and cons? It would be very good if you were looking at advantages and disadvantages before you decided anything. In this article, we' ll help you dissect pros and cons and make you decide.

Installment services are easy to register. Today, there are some lenders over online applications that do not require collateral, proving income or even credit cards. All you need is a steady income, legal id, and your decision.
And in case you're wondering, yes, movi is one of the companies providing installment packages to the nurses like Samsung, Oppo, Vivo, …, no credit card!

Return to your request. While it' s simple to apply to an installment plan, it is also easy to refuse by some important factors that can make you want to reconsider if a plan pays for the payment that is suitable for you.
So here we have presented some of the obvious strengths and weaknesses of the subscription service registration. Read them carefully and decide whether you're ready for it!

Advantage

The installment packages are convenient

One of the advantages of signing up for installment services is convenient. Basically, you can buy any items right now and pay them later.
Installment packages also give you a chance to split your total purchases into more payments. The payment schedule can be adjusted to match your pay schedule, so you won' t meet any difficulty for paying your debt.

Easy to apply

As mentioned earlier, you can easily sign up for installment services. In fact, we're sure that the purchase registration service is easier to register than register a complete loan.
The requirements are simple enough and less stringent than a loan. In movi, we only ask you to register as a member of movi. Of course you have to be 18 years old or older, with stable incomes and have a valid or cccd id. Verification is usually a day' s transaction, as soon as you' ve submitted an online application with the necessary papers and select decisions from you.

No collateral, no credit card, no proof of income

The purchase of installment services at movi does not require any type of collateral or prove which income before we accept your application. We also don' t ask customers to have credit cards to use our services.
Why? Simply because we want to provide easy and simple installment services for customers. We understand that not everyone has assets to mortgage and credit cards are not simple.

Weakness:

You can only borrow a certain amount of money

Unfortunately, the sky is not a limit to signing up for installment services. Even if, assuming you want to take advantage of the $ 20 million installment package, the financial company can only support the amount in accordance with regulations.
There' s a loan limit that can annoy you but the truth is that it still works for your benefit. With a limit imposed, at least you can make sure you don' t have to get a big loan from your income.
In addition, your credit limit can still increase - just make sure you continue using your installment plan as honestly as possible. If the financial company sees that you are the person who has the ability to pay good and potentially borrowing a larger loan, they may increase the credit limit for you.

Refund time may be a bit short

Most online lending companies provide short - term loans - from 30 days to less than one year. Because your installment program doesn' t " toàn” (nghĩa is no collateral, credit cards or nhập), financial companies can only give you a short time to complete repayment.
However, just like your credit limit, there is a good chance that through honest payments, your credit company will eventually give you longer repayment time for the next loan you' ll never know!

You're limited to a partner unit

Most credit companies cooperate with certain facilities to provide their customers with an installment program. This partnership is usually exclusive, such as movi with Samsung.
So if you're looking for from other units that aren' t supported by the package provider you may need to reevaluate your situation.

Now you' ve better grasp the pros and cons of the purchase of installment services, are you not sure one of the great conditions to decide whether the installment program is the appropriate payment method for you. And if you decide to continue with your application, Movi is always here to help you purchase installment goods across partners.

You can see more details through the purchase product catalog or learn how to work movi from webiste.