Many shops are now luring with partial payment, the Labor Chamber advises to be careful.
For example, paying the latest iPhone of 1500 euros in twelve monthly installments is a tempting offer for many. But caution is advised here.
Not only that you have to be able to pay the monthly installments, there is another pitfall with paying in installments, warns AK expert Christian Prantner: “The interest rates for installment purchases by mail order are very high.” the four pure senders examined was (including one-off costs) 21.7 percent per year!
Other dealers offer “from-to” variants, sometimes even “true” zero-interest loans. However, these are often linked to conditions (e.g. duration). It is important to look very closely at this.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
