Do you prefer to take a loan or buy goods in credit?

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Bisolami

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• #1

These are one of the two ways to run a business. When you take a loan, you will need to pay back with profit but when you buy in credit, you will only need to pay for the goods you have bought and no extra profit attached to it.

For this reason, I will rather prefer to buy on credit. How about you?

 

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Etini Willie

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Some credit purchases add price and make the products more expensive than buying outrightly. But I doubt it would be as much as loan interests.

 

nomad

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I don't use loan to buy things, however, I use credit cards to by small purchases.

 

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King Belieal

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It is better you have an understanding with the supplier than try to have an understanding with a loan company. Those guys are not really nice.

 

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Bisolami

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• #5

Etini Willie said:

Some credit purchases add price and make the products more expensive than buying outrightly. But I doubt it would be as much as loan interests.

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It can never be as much as loan interest and you won’t have to go through any stress unlike loan so that is just the best thing to do

 

Shavkat

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I never use credit cards in my entire life. It means I pay products or services in cash.

 

eldavis

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One thing I fear the most is taking loans, if I cannot afford that goods or products, the best thing to do would be to just chill and wait till I have the capital.

 

Sanjeev

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For a business, it is better to take loans from bank. I see people take loan to make their business grow.

 

Shavkat

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eldavis said:

One thing I fear the most is taking loans, if I cannot afford that goods or products, the best thing to do would be to just chill and wait till I have the capital.

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I have the same feeling. I never dared to avail a credit card. I do not want to be in a situation of having a huge debt.

 

eldavis

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Shavkat said:

I have the same feeling. I never dared to avail a credit card. I do not want to be in a situation of having a huge debt.

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Exactly, I won't even be able to enjoy what I got cause all my mind would be on what I need to pay back. So it's best I just relax and wait till I have the money.

 

Shavkat

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eldavis said:

Exactly, I won't even be able to enjoy what I got cause all my mind would be on what I need to pay back. So it's best I just relax and wait till I have the money.

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There is nothing wrong if we are on the practical side. I have a friend who was in debt because of maxing out his credit card. The sad part is the mother were paying it. How bad he is.

 

cherry123

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I would rather take a loan with lesser interest than buying on credit. When you buy on credit you would buy higher buying price in some cases

 

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Frankly speaking l prefer taking of the loans to buy goods on credit for that reason.

 

freelancermaria

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When I was younger, I used credit cards but struggled to pay off my debts. After clearing all my debts, I decided to stop using credit cards. I only now pay using cash.

 

Sanjeev

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I don't use credit cards because I don't like to lend money and pay interest if I forget or am unable to pay back the money.

 

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Stardom22

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For me l prefer taking the cash loans and but the item that l need in cash.

 

Hate2Wait

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I am buying on credit from a long time now where we need to pay in Easy EMI options and its a good way as you don't need to pay the whole amount in one go

 

Sanjeev

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Hate2Wait said:

I am buying on credit from a long time now where we need to pay in Easy EMI options and its a good way as you don't need to pay the whole amount in one go

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That's fine. Whereas I don't use credit cards because I don't want myself to get habitual of using credit cards.

 

Hate2Wait

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Sanjeev said:

That's fine. Whereas I don't use credit cards because I don't want myself to get habitual of using credit cards.

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I just recently got myself my first credit card in November and I am liking this option so it's not a bad thing if we can utilize it effectively

 

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Sawe

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I would prefer to buy on credit because I won't have to pay back with an interest rate. But most shops won't give you things on credit and most of us in my country don't have credit cards, that is why most people end up taking loans.