Everybody needs a kitchen and kitchens can be very expensive. Therefore, many families have to buy a kitchen on installments.
Whether single, in love couple or family – for most the kitchen is a central place in the flat or in the house. Large parts of everyday life take place in the kitchen. There is not only eaten, but sitting together, spending time together and sometimes receives the guests in the kitchen. Accordingly, many consumers attach great importance to having a quality, well-equipped and modern kitchen their own.
But everyone knows that a modern and well-equipped kitchen costs a lot of money. Such a wish can not be met with just a few hundred USD. Here, larger sums of money have to be taken in hand to make this dream a reality.
Buy a kitchen on installments – financing is not uncommon
Most buyers of a new kitchen therefore opt for financing. You plan to buy a kitchen on installments. Financing is often offered directly by the dealers. However, many consumers choose the direct route to the bank. You would like to decide for yourself how your financing is structured and what particular key data should be taken into account when buying kitchens on installments.
The decisive factor is not whether a modular or fitted kitchen is desired. The only thing that matters is that buying a kitchen is a long-term investment that entails high costs and that can only rarely be dealt with as a cash purchase in combination with financing from one’s own resources.
With a kitchen purchase on installments, however, it is possible to take a suitable kitchen loan, which brings advantages and disadvantages, but at the same time has the option ready to meet the desire for a new kitchen in a timely manner. For those who can not or do not want to save for their dream kitchen, but can buy the kitchen on installments, will meet his dream of a modern kitchen equipment promptly and this step will most likely never regret.
Two options for a kitchen shop on installments
In principle, the consumer has the opportunity to use two different options when buying kitchens on installments. That would be:
- Credit at a local retailer
- Credit directly to a bank of his choice
Both variants offer installment payments for kitchens, which come with advantages and disadvantages. The financing applicant is therefore required to consider carefully what type of funding is most interesting to him.
That speaks in favor of buying a kitchen on installments with the help of a bank loan
In general, it should be noted that the consumer has the much greater scope for decision-making in the case of a classic installment loan via a free credit institution. He has the opportunity to individually influence the loan amount, the monthly installments and, ultimately, the amount of the interest. The consumer also has the opportunity to look for a loan on their own and does not have to accept the one offer that the trader usually only holds.
For a kitchen on installments with the help of a bank financing speaks:
- Duration of the loan can be customized
- For a kitchen purchase, terms of three to five years are considered appropriate
- Many banks offer special repayments
- The loan can be repaid faster and interest is saved
- The bank can be chosen individually
- The best terms can be selected as best suited to the borrower
- Extended withdrawal periods are especially popular with online loans
On top of that, the loan prospective customer has the opportunity to buy at a kitchen on installments using free credit to better negotiate options. Anyone who is able to pay the barkeeper for their food in the bargain, because it is leveraged, also has a better chance of a generous discount on the purchase of the kitchen.
What reasons generally speak for a kitchen to buy on installments?
The purchase of a kitchen is one of the purchases in the household, which must be planned long term. Because the high costs that go with it, should be designed so that a high benefit can be drawn from it. Furthermore, it is not worthwhile for the consumer to save at the wrong end. The selection of the kitchen should therefore be made carefully. And to cover the cost, buying a kitchen on installments is always recommended.
Financing a kitchen gives the consumer some financial freedom. Not only that no saving over a long period of time is necessary for the purchase to be made. It is also the case that already saved money does not have to be spent on the kitchen purchase, but can flow into other projects. Examples of this include pension provision, which is becoming more and more important in our time, and is based on sound preparatory work and free capital.
If an installment purchase is planned for the purchase of a kitchen, then usually a completely different budget is available, than that would be the case, if the savings need to be resorted to. This also increases the possibilities for buying a kitchen. It can be used a more modern kitchenette.
In addition, it is possible to install additional practical installations. Also, the use of branded equipment is also usually much easier to finance than having to pay for the kitchen purchase with the help of saved funds.
In addition, high-quality kitchen appliances generally provide much more extensive functions than is the case with no-name products. They also have a lower energy consumption, so you can save additional time in the long run. Buying a kitchen on installments makes it much easier to buy a modern, energy efficient and comfortable kitchen.
With or without deposit?
Buying a kitchen on installments can be done in a variety of ways. The buyer has the opportunity to decide for himself how much money he wants to take in the form of a loan. Because it is possible to buy a kitchen with or without deposit.
Also with the credit it is therefore possible to decide whether to finance with or without down payment. If there is equity capital that can be used to finance the kitchen, then of course this can be used. The advantage here is that the loan amount is reduced and thus either the term of the loan or the monthly installments are smaller.
In addition, a down payment has the advantage that it is considered as additional security for the loan, as the bank sees that there are financial resources and thus increased creditworthiness.
Of course it is also possible to buy a kitchen without a deposit. One hundred percent financing for a kitchen can easily be taken online. In advance, we are looking for suitable offers that are compared with each other, so that it is possible to see exactly which options are most suitable for financing. Here it is recommended that the costs for the kitchen are already well known.
This includes not only the purchase price of the kitchen, but in the best case, the price for the delivery and installation of the kitchen. Above all, many consumers underestimate the costs of assembling the kitchen. Several hundred USD can be conveniently accessed here.
If this money is not available, it is important that it flows into the financing of the kitchen and is taken into account accordingly in the loan. If a kitchen is bought by installments, then not only the purchase price of the kitchen must be kept in mind, but also the additional costs that will be incurred all around the product.
Cost analysis before borrowing
Buying a kitchen on installments means having to know in advance exactly what the costs are. And that is only the case if the kitchen is already planned exactly. For this it is necessary either to use different programs online or to visit a local kitchen supplier and to start a counseling session there.
The planning of the kitchen is usually free. However, it is important that all key data are known and the kitchen is ordered so that it suits the buyer. The costs, which are then called by the seller, are usually binding. This means no additional costs can be incurred and the exact plan for financing the kitchen can be set in motion.
If the kitchen is not financed by the dealer, but by a free bank, the seller can be asked directly for a cash discount. It is interesting in this context, when the payment of the kitchen has to take place. This is important for taking out the loan so that the money from the loan is really available on time.
If an immediate payment is desired and a purchase on account therefore not possible, the seller must be informed that funding must be included.
When do you get the installment loan for a kitchen?
Even if you opt for an instant online loan, a certain amount of time goes by until the borrowing money is actually on the account and can be used to pay for the kitchen. However, if this is made clear to the seller, there will certainly be a solution that will do both justice. The buyer and the seller.
Once all costs have been analyzed, it can start looking for a suitable loan. If the kitchen is bought on installments, then you have to see how high the monthly charge can be for the kitchen. For this, it is important to look at what revenues are available in the month and what expenses must be incurred. The financial leeway that is left then, should additionally be divided exactly.
Of this financial leeway should be used for borrowing a maximum of half of the money. This means that the monthly kitchen purchase rate should not exceed half the amount of free money available each month.
If 500 € per month are available at your leisure, after all other costs have been deducted, the monthly rate should not exceed € 250. This always ensures that there is an additional financial cushion to be able to pay for any additional expenses that have to be scheduled each month.
On the basis of the now known data, the purchase price, the amount of the monthly installments and the own creditworthiness can be looked at, where a suitable offer for the kitchen can be found on installments. It is recommended to use a comparison calculator to consider different offers.
Apply for installment credit online for the kitchen
Most consumers opt for a classic installment loan. But there are also some banks that offer special housing loans or furniture loans, which are of course also ideal for financing a kitchen. These options should be checked individually to see which way is recommended.
After selecting the appropriate bank, the application system of the respective bank must be completed. Personal and economic data must be provided for the credit inquiry to be reviewed. Documents, such as salary statements or account statements should be kept in the foreground.
These documents are required as long as no digital credit is used. If you are using a digital loan, you will be asked for revenue and expense information using online banking.
Buying a kitchen on installments is only possible if you have a good credit rating. If there are credit problems, the financing of the kitchen can fail. Here it is then to search in advance for alternatives. For example, a guarantee that compensates for the weak credit rating and thus enables the financing of the kitchen.
Buy a new kitchen with online financing – always a good idea
To make the desire for a new kitchen a reality, online financing can be a very good idea. The following tips should be noted:
- Read the fine print in the contract and look for hidden costs
- In the kitchen studio ask for discounts for a cash payment
- Consider carefully the choice of loan amount
- Include delivery and bodywork service
- Determine the amount of monthly installments so that they can be handled well
- Only decide for the kitchen and then seek the kitchen credit – this does not create unnecessary interest, which can be called for the provision of the credit
- Compare different conditions – often you can find a high saving potential
Our conclusion to the kitchen on installment buy
If you want to have a nice kitchen, you usually have to finance it. Because a well-equipped modern kitchen, which works efficiently and has a high utility over a long period, costs a lot of money. So much money that either the savings should not be used or the corresponding financial resources are not available.
With a targeted financing and a kitchen buy on installments, it is possible to implement every dream kitchen in reality. With the right selection of the donor, you can save a lot of money if you as a customer can use the cash discount of the kitchen seller.