jtusuubira@gmail.com +256 782 669 841

Installment Purchase Details

Installment purchase image

What Installment Purchase means

Installment purchase is simply a system of payment that allows customers to purchase an item and make payments over a a period of time. It may vary from business to business, some businesses can allow a customer to go with the purchased item after paying the first installment while others may not as indicated an agreement.

An installment purchase agreement is a contract used to finance the acquisition of an item. The payments include stated or imputed interest. The buyer takes title to the property at the inception of the agreement. The seller retains a security interest in the property until all of the specified payments have been made.

We are glad to let you know that we understand you may not afford to pay in full for all our items, the good news is that at Happy Home, we accept payments in form of Installments for all our products. However, there terms we followed. The terms are the conditions of the installment purchase. They tell you what kinds of payments to expect and when you need to pay them. For the knife set, our terms are very simple. There is no interest mentioned here. Let's look at them;

  • There is no interest involved in all our installment purchases.
  • The item (or items) can only be taken after full payment is completed.
  • The customer can choose to pay after a week, a month or daily or whenever he wants to pay. It is entirely up to them when to pay. However after a month, we expect a communication from them.
  • The Installment service applies to items (or an item) costing a sum that is not less than 100,000/=. We assume this is not high though we are still open to discussions and negotiations.
  • The initial deposit payment can not be less than 50,000/= for items (or an item) costing less than 200,000/=. Otherwise, the minimum initial deposit payment is 100,000/=.
  • The customer can choose to pay after a week, a month or daily. It is entirely up to him.
  • How much to pay after the initial deposit is up to the customer but we advise that all installments be not less than 50,000/= for higher cost sums.