Tuesday, 27 October 2020

How Much Is It Worth & Can You Pay?

I am a consumer; I am attracted to the no-down payment offer and most of all the 0% interest rate when I make my payment which might be in a few months up to three years.

gollotienda_com_publicaciones_php_opt=1It is a sales ploy that has caught in Costa Rica and a very good sales ploy adopted from the United States with a few modifications.

For the most part you must be comfortable to make the purchase price payment schedule, which is generally higher than the competition, and you can buy a brand new 50 inch television, a teeth whitening paste, even an automobile overhaul worth thousands of dollars.

- Advertisement -

But God forbid do not miss a single payment or it is economic purgatory!

The interest, in Costa Rica can be as much as 50%, no matter how many payments have already been made. Interest is usually charged on the entire sum and not only the outstanding balance not to mention those hidden fees. Draconian, but legal.

The concept came from the North, where to sell products, a scheme, a very calculated scheme with a very nice partnership = Retailer + Bank = Money= up to 60% and in some cases 90% more for big-ticket items. All numerically calculates those consumers who can and those who will not meet the payment deadlines.

Cars, vacations, visits to the spa, televisions, medical necessities, etc. can be financed for 0% interest and so much per month. (If you qualify and make the payments not one day late.)

- Advertisement -

Fees, if any; outlets, retailers or medical people try hard not to say “Who qualifies and if you do qualify; how much per xyz are the payments. With simple addition times the payment schedule will become your total cost of the product or service.

Not a new marketing scheme to attract buyers but fiscally dangerous.

If you can pay the monthly quota or bi-monthly quota and you really want the face lift or 42” television; fine.  Make the deal!
But as Q says, if there is even a question of not being able to pay the monthly quota …do not do it or you can be charged 50% or more just in interest alone plus  late fees

- Advertisement -
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Cuba Plane Crash: Company ‘Had Safety Complaints’

Solidarity and investigations after the accident. Cuban authorities are investigating the...

The Volcanos Of Central America (By Country)

Among the things most loved by travelers to Central America is...

MOST READ

COVID-19 in Costa Rica: 1,503 new cases for Wed October 21

QCOSTARICA - Following a drop in the new cases daily since Sunday, there was a spike on Wednesday, with the Ministry of Health reported...

Now your dog can accompany you to the bank

QCOSTARICA - BAC Credomatic adopted the “pet friendly” policy in Costa Rica, allowing customers to enter any of the bank's branches with their pet. "At...

Fall in fuel sales due to pandemic to affect canton road works

QCOSTARICA - The 82 cantons across Costa Rican could face 2021 marked by the deterioration of local roads, due to the fall in resources...

Recent trend of the R rate in Costa Rica

QCOSTARICA - The R rate of COVID-19 in Costa Rica, estimated with the most recent data from October 21, 2020, is R = 0.98...

Foreigners represent 14% of the patients treated for covid-19 in hospitals

QCOSTARICA - Of the 410,000 people with inquiries related to the new coronavirus at the medical centers of the Costa Rican Social Security Fund...

World Bank provides PHP 29 Billion to support households during the pandemic

The Philippines is one of the Asian countries that has been greatly affected by Pandemic. Economists have even estimated the country will lose up...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.