Purchase on installments: new blossoming of the model?

What does the digital world actually look like? Is buying in installments still important or even more popular than ever? Are there any innovations there?

👍 The short answer: Yes, the installment purchase is still popular with customers.

☝ However, there are now many different types of the “buy now, pay later” model.

👉 The original model provides for a product to be paid off in monthly (constant) installments. For most products within 24 months, especially for higher-priced products (e.g. cars) but also over longer periods. The first installment is due immediately or at the end of the month.

👉 Today there are also models from financial service providers in circulation where you don’t pay any installments for the first 30 days or even 3 months. Alternatively, there is the simple option of paying the full amount after 14 or 30 days.

👉 So the installment model has been diversified and many convenient options are opened up for the customer. The basic principle remains natural. No matter when the installment payment begins, at some point the product has to be paid for. Of course, the providers must be able to bridge these periods of time and therefore these financial service providers are subject to a fee as dealers.

So only take the models that suit you.