Many people are not aware that they can avail of an EMI for refurbished laptops and second-hand laptops as well. But many e-commerce sites provide it, so you don’t have to stall your plan of buying a product because of the non-availability of sufficient finance.
Buying a refurbished laptop is a good option if you’re on a tight budget and want your desired brand/ model. And if you want to make the deal even sweeter, then you can opt for an EMI (Equated Monthly Installment) option, in case you’re unable to afford the full payment at one go.
However, there are certain things that you should know before you purchase a refurbished laptop on EMI or anything else.
The first and foremost thing that you must consider before buying any product on EMI is your budget. Buying a product on EMI doesn’t mean you should ignore the total cost that you’re going to shell out for the product.
Look for no-cost EMIs
As the name suggests, a no-cost EMI refers to a plan where you pay for a product in monthly installments with zero interest. In simpler terms, you pay only the total quoted price of the product, with no extra fees. If you overlook this, then you’re just buying time to settle the final payment and end up paying more because of the interest.
Mode of payment
Most online portals accept debit cards for EMI transactions, so you don’t have to use a credit card. Other non-banking finance companies allow you to convert the cost of your purchase into EMIs, but there might be additional fees associated with them, so check the fine print before going for this option.
Maintain sufficient balance in your account
EMIs are auto-debited on a particular date of each month, so ensure that you maintain sufficient balance in your bank account linked with your card. Failure to do so might result in financial implications and affect your credit score.
Buy from a trusted source
Last but not the least, always rely on a trusted and reliable source when buying refurbished laptops on EMI or even second hand laptops. This way, you’re assured that your purchase is safe. Sites like Electronics Bazaar, for instance, not only offer no-cost EMI options but also provide 1-year replacement warranties, have a 10-days return policy, and also include a 50% assured buyback option with purchases.