Hire purchase back on electrical goods

Staff Reporter 03-06-2009

Hire purchase, which allows one to use a goods while still paying for it, is now being offered by some shops in Harare. This shows that the retails shops now have confidence in the currency which is being used as they discontinued this facility last year when inflation was running in the millions.

A visit to shops which traditionally offer such facilities showed that the credit facility was now up and running.

At TV Sales and Hire in Harare, Business Zimbabwe was told that the credit facility was offered to those who would meet the laid down requirements.

“One has to present to us a current payslip, proof of residents, national identity card and the deposit which is 25 percent of the value of the item one wants to purchase. If these conditions are met, the customer would then fill in some forms and it will be a deal done and he or she may walk away with the item they would have purchased,” said salesman at the TV Sales and Hire at the corner of Sam Nujoma and Samora Machel.

Terms for high purchase may vary from shop to shop but the one proffered by TV Sales and Hire is the most basic.

There are other shops which may require one to come with a letter from another shop showing that they do not default but as of now this is almost impractical as the credit facilities had at one time been discontinued.

Apart from hire purchase, there are some shops which are also offering lay bye facilities.

“If you opt to go for a laybye, we then ask you to pay at least half of the marked price of the item you want to purchase and then you clear the balance within a month,” added the sales person at TV Sales and Hire.

Lay bye facilities require a stable currency as any changes in the prices would affect the consumer and the retailer.

Last year it was virtually impossible to go for a laybye as the prices would change within days thus making it impossible to clear the balance.