Its myopic to assume that going for instalments is a question of affordability. Instalment payment is essentially a free loan with no interest. If you are savvy with financials and investing, you can earn more with the cash on hand than paying in full.
Decades ago, as a newly wed, and lowly paid junior executive, I used to buy my AV product for my new home, and learnt the hard way, paying about $12k for collective cost $8k over 2 years. I would let my brothers or sisters earn the $4k (probably less) if they could borrow me the same loan amount.
For example, $1k on a 48mth installment, u end up paying more than $2k, excluding any late payment penalty if any. Before 48mth, the item u purchase already technologically obsolete, may probably become unusable.
Its better save up and by the time you got the cash, you will be paying same for a better upgraded futuristic product. I would rather take a short term comfortable loan from family member or friends with return interest.
consider rate of interest? if for credit card deals, have to keep tracking and make sure u pay monthly. but of cos if i have money i prefer lump sum. usually when in need of cash and dp installment, overtime i tend 'forget' about the additional money i have to pay the vendor or the bank. untill i look back at the bills.................
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