If someone were unable to pay cash right now, which financing option would be best for the laptop and for the refrigerator?
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If someone is unable to pay cash right now, he or she must take a loan from the bank or buy the electronics in EMI.
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If someone is unable to pay cash at the moment of purchase of laptop and refrigerator, the hire purchase option is to be chosen to pay for them.
In hire purchase option, many financial institutions stand as the guarantor for the purchaser and the purchaser needs to pay the full amount through EMI the tenure of which is fixed the creditor and the debtor.
The creditor charges interest on the loan given.
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