Producers of high-end smartphones tempt us every year with a new device that is even better. If you are sensitive to this and would like to have the latest of the newest, you can run into a new product coming onto the market for which you have no money. We’ll discuss three ways you can still buy that expensive new phone.
Telephone with subscription
The most obvious way in which you can still afford that desired new telephone is by taking out a new telephone subscription with that device. You can then spread the costs over a contract period of two or three years. You then have hefty monthly costs for your telephone and telephone subscription. In addition, when taking out the subscription you probably still have to pay part of the purchase amount of the device in one go, because telephone providers prefer to keep the monthly amounts attractive. A disadvantage of purchasing the device via this construction is, firstly, that you often cannot choose the cheapest providers for telephone services and secondly that you pay less for the device if you buy it elsewhere ‘separately’ without a subscription.
Borrow money from a lender
If you prefer to be able to buy the device for the best price and choose the most favorable provider for your telephone subscription, then you must buy the device separately from a telephone subscription from the cheapest provider. You must then be able to deduct the purchase costs in one go. To get that amount together, you would need a little personal money loan can take out with a lender. That is another way of spreading the costs, without being tied to a long and inflexible contract with a telephone subscription provider because your phone is part of the subscription. Borrowing money is of course not free. You pay interest, but with a relatively small loan with a short term, this can be better than expected.
Borrow money from someone you know
Do you not want or can you borrow money from a lender? Then you can also try to knock on the door of someone you know. Officially, a loan contract must be drawn up and a market interest rate charged, but these types of matters usually take place privately. An advantage of this is that you pay less or no interest and the loan is not registered with the Credit Registration Office (BKR) (which would even be the case with the telephone subscription with a device). But borrowing from family or friends can cause tension, and the question is whether you should want to put pressure on a family relationship or friendship in that way.
Not is impossible, but it certainly doesn’t hurt not to make impulsive decisions. Think about it for a moment and consider whether you want to accept the consequences of these different types of financing. Furthermore, it is of course always advisable to spend as little money as possible that you do not have.