Question

Opinion on buying things on instalment basis

Answer 1

The benefit of buying things on an installment basis is that you can purchase the product without having the money for it. For example, people buy cars in installments because most don't have the money to pay on the spot, but still need to buy the car.

The downside of buying things on installment basis is that you have to pay interest, thus having to pay more than the original price. Another issue is that if a crisis was to happen and you can no longer afford to pay the installment, you will go in debt and be in financial trouble