Your Guide to Buying a New Gadget on an Installment Plan

Smart devices play an essential role in today’s highly digital world. Your laptop, tablet, and phone all let you connect in real-time, so you can work, study, or talk to people even if you’re in different places. Some devices, like smartwatches and fitness trackers, are designed to help you monitor your health and take better care of yourself. There are also add-ons like wireless headphones that improve entertainment and security cameras that keep your home and family safer. 

The technology that serves as the foundation for smart devices is still changing at lightning, so the newest and top-of-the-line versions of these gadgets still cost a lot of money. Opting to buy a new gadget using a credit card and an installment plan is a smart choice for many Filipinos, especially those who want to maintain their liquidity. If you want to use the same strategy to get your next smart device, here’s a rundown of what you should do.

Compare Your Options Online

One of the perks of having smart devices is that they make it easy for shoppers to compare and contrast their online choices. You can do the same with the gadgets you plan to buy and save yourself a shopping trip. First, decide what your must-have and good-to-have qualities are for the smart device. Perhaps you require a laptop with at least 16 GB of RAM or a phone with excellent photography capabilities, but you don’t have strong opinions about the unit’s color or the type of ports it has. Take note of these qualities and start looking for models that meet all your needs and perhaps some of your preferences. Then, arrange them in descending order from your top choice to the last option.

Decide on a Realistic Budget 

After narrowing down your options, consider their prices and how much you’re actually willing to pay for your new gadget. Additionally, since you’re paying for the gadget in installments using your credit card or a payment plan accepted by the seller, it’s a good idea to configure how much your monthly dues will be. See how this amount will fit into your monthly budget or if you’ll have to cut back on other expenses. 

Check Out the Repayment Periods

If you’re dead set on a particular model, but the monthly payments are too high for you, see if you can extend the payment period. Most sellers offer payments over three months, but some offer payments over six, twelve, or even twenty-four months. The longer the repayment period, the higher the item’s total price will be. If you’re willing to shoulder that cost in exchange for a better gadget and the convenience of paying in installments, this should still be a favorable arrangement for you. 

Choose the Best Mode of Payment and Promo Offering

Putting the cost of your gadgets on your credit card is a smart way to earn points that you can later use to get perks and prizes. If you have your eyes set on these rewards, swiping your card to complete your purchase will help you get closer to your goal. 

If you have more than one card, check to see if they are currently part of a promotion at a store or shopping platform. Perhaps one is offering cashback or zero percent interest rates for purchases that meet a particular price point. Some digital marketplaces also run promos or partner with mobile wallet apps and online banks to offer similar promotional campaigns. Make sure to take advantage of these offers to get a better deal 

Examine the Item in Person Before Purchasing It

Once you’ve figured out what you want to buy and how you’d like to pay for it, your next step is actually to go out and buy the product. While you can order your new laptop, phone, or tablet from legitimate online shops, there’s a certain assurance that comes with first seeing the exact item you are about to purchase from the store. This is especially true if you’re spending significant money on this new acquisition. Additionally, visiting a physical store will allow you to ask questions and get quick and accurate answers from someone deeply familiar with the parts and functions of the smart device you’re eyeing. 

Take Note of the Device’s Warranty

While at the store, inquire about the warranty that comes with your purchase of the gadget. The warranty will protect you from losses if the product is defective or fails to meet your expectations within a predetermined period. After all, no one wants to spend several months continuing to pay for a product that no longer works. In addition to allowing you to replace a defective product, the item’s warranty will also help you save on costs in case a part of the item needs to be repaired or replaced. 

Using an installment plan to pay for your newest gadgets will not only help you spread out the cost of the purchase but also give you easier access to pricey but essential devices that will likely serve you for many years. With a little extra effort, you can upgrade your smart devices while maximizing your financing options.