1. Installment payment for buying a mobile phone with 0 down payment and 0 interest means: when buying a mobile phone, you can use a credit card or other credit to pay in installments. There is no down payment or interest charges. You only need to return the installment every month. The principal will be paid back in full.

2. Things to note

With the increasing popularity of credit cards, more and more cardholders are choosing the "zero interest" installment payment consumption model. Many people feel that the burden of consumption has been relieved. , but "zero interest" is not "completely free". Credit card interest-free installments may seem attractive, but in fact they hide a "murderous intent."

Take the currently popular car purchase installment plan as an example. Although many banks or car dealers have enticing advertisements of "zero down payment, zero interest", "zero handling fee" is rarely shown in the advertisements. Financial experts revealed that any installment payment with a credit card is essentially a consumer loan in disguise. For example, the sum of the installment fees can be regarded as the sum of the annual interest on the consumer loan. It actually charges a certain fee.

3. Installment payment

Instalment payment is actually a loan provided by the seller to the buyer. The seller is the creditor and the buyer is the debtor. The buyer can obtain the required goods or services after paying only a small part of the payment. However, because future installment payments include interest, the amount paid for the same goods or services by installment payment is higher than that of a one-time payment. The payment for goods is more.

On the one hand, the installment payment method allows sellers to complete promotional activities, and on the other hand, it also provides convenience to buyers. They complement each other and each gets what they need.