I read the news the other day and one of our main local bank is urging car owners to remortgage their cars. By doing that, it means they will have to pay even more interest to service their loans. I do not like this kind of idea as it can leads one into debt. However, when times are bad, one have to resort to this.
More than two decades ago, when both hubby (then bf) and I were living together, we couldn’t even afford a cheap washing machine. So, we bought that on installment and pay a higher price. We have to forget about any kitchen appliances and oven was definitely out of our budget then.
It seems that things are not going so well around the world. That’s why industries like easyhome rentals come along to help those who need furniture for the home to get them through rent-to-own.
Over here, we call it leasing. In fact, we haven’t hear much about leasing in the last decade but leasing was very much in demand when economy is not so healthy. Otherwise, how are people going to afford things if they cannot lease to own?
In my opinion, if one can save, one ought to. However, if the things are necessities, like computers for the children education or major piece of furniture for the family, then, if they need to lease, they need to.
