4 Ways to finance your dream Gadget

Whenever a smart gadget is launched, be it a smartphone, a laptop or a gaming console, we feel this pressing need to own that device. There is no denying that buying the latest version of any gadget is a rewarding experience but it comes with a price.

That’s why getting the latest gadgets often makes a dent in our savings. Hence, it’s a good idea to consider all the options to finance this expensive purchase.

From trade-ins to a personal online loan for gadgets, you have several resources to fund your tech device.

dream gadget
Pixabay: Image by Maria

How to Finance your Dream Gadget?

When the need arises, you can consider the following options to buy your dream gadget:

  • Consider a Personal Loan
  • Opt for No-cost EMI
  • Make the Best of Buy Now, Pay Later
  • Sell or Trade Your Used Device
  1. Consider a Personal Loan:
    Many platforms enable you to seek quick credit so you can buy your favourite gadget without straining your budget. One such platform is KreditBee, where you can easily avail of an instant loan with minimal documentation and faster processing time. You can apply for the loan online and once your application is approved, get money transferred directly to your bank account.
  2. Opt for No-cost EMI:
    Gadgets are fun but can be too expensive for many. Even when you pay through instalments, interest and other additional fees can add more financial burden on you. So, consider all the available options and pick the one with no-cost EMIs. It lets you get a quick personal loan and choose a repayment tenure of 3-24 months in most cases. You pay only the cost of the product you buy and not a single penny beyond it. From the latest phone to an updated laptop, you can get your hands on your dream gadget at the best price.
  3. Make the Best of Buy Now, Pay Later:
    Buy now, pay later (BNPL) gives you the option to get the product right away and pay for it either in smaller instalments or in full later. The amount is debited in three or four instalments that are spaced equally but without any extra fee or interest, provided you pay the amount on time. Although BNPL is mostly offered by online retailers, some brick-and-mortar stores also provide this payment plan. You simply need to generate a QR code within the app and get it scanned at the POS. The seller will get the credit and you can pay later.
  4. Sell or Trade Your Used Device:
    One of the most economical ways to buy electronic gadgets online is to sell your used device or trade it for a new one. You can find several apps and websites that allow users to sell and buy second-hand products. If you have a smartphone or a video game that is still in good shape, you can get some cash for it that you can use to buy a new laptop or mobile. Also, if you want to upgrade a device, then ask the company if they accept trade-ins or provide discounts for them.

Owning a sophisticated and futuristic gadget is a dream, that not many can afford. However, if
you plan and research the right way, you can turn this dream into a reality without wearing out
your savings. You simply need to have knowledge of all the options and must consider each of them to make this expensive buy satisfying rather than stressful. KreditBee provides loans to people who are new to credit. This enables you to purchase gadgets on EMI which you can pay back in monthly installments.

Author Bio:

Tanvi Kaushik specializes in Content Marketing and works with the Digital Team at KreditBee – India’s fastest personal loan platform where self-employed and salaried professionals can easily avail of personal loans in just a few minutes when in need of quick funds. Tanvi writes to the- point articles on personal finance and budgeting which are truly appreciated by her readers. She is committed to making money matters easy to understand even for the layman. Her commitment to her work doesn’t stop her from pursuing her hobbies of hiking, trekking and going on adventurous trips.