RSSSome years back when buying things in installments used to cost more than the normal price for any products. For instance we can look at a single home appliance product like washing machines or microwave ovens or even refrigerators. Lets say the cost of a washing machine used to be somewhere around 40,000. The initial payment would be 20% to 25% depending upon the financers and the products. After the down payment, a certain rate of interest would be levied upon the remaining amount which needed to be cleared in twelve months or further. With this kind of installment purchases, the customers would not get any kinds or any amount of discounts. So the actual price they had to pay always exceeded the original price.
But now the scene has changed and almost all the products are now available at zero percent installment schemes. Due to more competition in the market, all such installment scheme providers have now eliminated the interest. However the discount factor still remains there. Who know, the discounts would be available in such installment schemes in the near future as the interest has already gone into extinction.
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