Can I finance my new cell phone?

Months have passed since the launch of the iPhone 11, 11 Pro and 11 Pro Max, but the leaks related to the following Apple smartphones They were not made to ask. The last comes from one of the most popular voices around Apple products, Ming-Chi Kuo. An analyst for Tianfeng International says an apple company will be launched four iPhone 4G 5G by 2020. 5G technology which could be the reason behind the increase in average retail price over the next year. Analysts warn that prices will be higher, though it doesn't mean that it will increase between $ 30 to $ 100 depending on the model.

Increasingly smartphones are more expensive

Smartphones are more expensive than ever, because the low sales price of these smart devices up 9% last year, according to a CounterPoint consultation report. A trend that has its first place in 2017, when Apple introduced the iPhone X at a price above $ 1,000. Since then, the leading manufacturers of the smartphone industry have followed that one line of ascension. On this basis of larger values, Consumers cannot always face the cash payment they want, so they should use the different financial options available. Today, banks, financial institutions, supermarkets and mobile operators offer mobile financing opportunities, though each has its own set of conditions.

Before financing the purchase of a new cell phone, a few important factors must be considered to know which option fits our economic needs. Interest rate is a very important factor in financing a smartphone, because it will mark the final amount to be paid each month for each installment. To compare various current options, listen to Acity Equity for the Year (APR), which includes most commissions and marks the percentage of interest to be paid in one year. Each bank, or financial business, as well as supermarkets and their operators will offer different interest rates, though they typically range between 6% and 20%.

The interest rate will also depend on the payment period selected by the buyer. Before approving the repayment period it is best to analyze the state of the economy and the personal requirements for calculating monthly repayments. Depending on the amount requested, buyers may choose come back to the normal range of 5 to 18 months. In addition, we should not forget the commissions and conditions for obtaining contractual contracts, as they can make money expensive. As you can see, there are many factors to be studied before financing a new mobile device, but financing is a very popular way to deal with large volumes in the current market.