Should you buy using an EMI program?

If you have a 0 cost EMI program, it is best to use the EMI program. The cash in hand can be used for other purposes. But you will need to plan this well. You will need to understand your saving potential first. Then you need to allocate a percentage of your savings for monthly EMI payments. After determining this if you are comfortable you should go for the EMI program. The interest for the cost of the product you are purchasing is paid by the seller as subvention charges to the finance company. You are saving that interest amount which you can consider as additional savings or discount if you can invest the money, you would have spent on the product to gain more.

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The second option in my opinion is to pay in cash if you have enough cash in hand to pay for the product in one go. This is a safe approach and I consider this as a very conservative approach. 

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The third option to consider is the EMI program with interest. There is an interest expense that will be charged to you if you go with this option. This interest increases the cost of the product. So, if you have the funds and purchasing the product using these funds will not have a negative impact on your finances in any way, then it is advisable for you to pay for it in cash.

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In case the cost of the product is high and using your available cash reserve for it might leave you financially vulnerable, then buying the product on EMI is the best option.

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