Just how a S$3,000 expenses turned into S$30,000: the reality behind stores’ instalment programs
Tempted by low monthly monthly payments, some pick their particular electronic devices and furniture on hire-purchase, perhaps not realising how much cash larger the cost will likely be ultimately, as speaking Point discovers.
Sara Grosse
SINGAPORE: Hard-pressed for profit, Linda got down an instalment plan with a merchant for a computer, an automatic washer, a lounge and a bed totalling about S$3,000 back 2010.
It ended up being a blunder. This woman is however buying those items today, although property value her loans enjoys ballooned to S$30,000 over time.