If you want to upgrade your mobile phone or are simply looking to buy a phone you currently can’t pay for upfront, a mobile phone loan is a great option for you. Wondering whether you should buy one or not or what it will entail? Don’t worry, we’ve got you covered. Here is a list of things you need to know about a mobile phone loan:
1. Affordable And Cheap: Mobile phone loans can be very affordable and most companies are willing to work with you to determine what kind of a monthly or annual finance rate you can buy. You simply have to walk in with some clarity on what your budget might be good enough.
2. Many Options On The Market: The mobile phone industry has such a big market presence around the world now that most major financers are willing to divest and look into providing mobile phone loans. There is barely a monopoly in the market, so if one company offers you a loan you cant afford, you can simply move on and continue shopping for the loan. Many takers and many rates!
3. Online Presence: Gone are the days when you’d need to physically visit a company to get a mobile phone loan. Now, you can simply choose from a wide array of websites that finance phones, scroll through the mobile phone models you want to buy, customize your options for loan rates and feed in your details – voila your application for a mobile phone loan is sent!
4. Have A Credit Report Ready: Most companies will immediately approve your loan if they have your employment and credit information. The better your credit score is, the more chances of your approval. So work on that credit report and don’t worry another day!
5. E-transfer Payments: You don’t have to physically go in and pay your monthly loan amount if you don’t want to. Most companies offer deductible money from your online banking account. Once you give permission, they will automatically deduct the amount from your banking account and keep you stress-free from making deadlines.
6. Delivery: Once a loan is approved, you can pretty much get your mobile phone in mail delivered to you as soon as in two days time! Depends on how fast the shipment is, but it doesn’t take a long time.