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Paying in instalments
Krediteab 9 J.
Paying for a purchase in monthly partial amounts. Interest and fees are often added – in the end you pay more than the original price.
With payment in instalments you pay for a purchase not all at once, but in monthly instalments. Sounds convenient, but there's often a catch: interest.
"0% financing": some providers advertise 0% interest. Careful: the costs are often hidden in a higher product price, or there are hidden fees. Besides: even without interest, you're buying something you can't really afford.
Psychological trap: instalments make expensive purchases seem harmless. "Only €29 a month" sounds better than "€700". But in the end it's the same amount – or more.
Did you know? 33% of Germans have already used “buy now, pay later” – and 44% of them admit to having missed at least one payment deadline.
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