Easybuy Phones and Prices list 2024– (iPhone, Tecno, etc)

In this post, we will analyse Easybuy Phones and Prices list 2024, these list will comprises of both iPhone, Tecno, Infinix and so on. By now I believe you must have known that EasyBuy is a platform in Nigeria that offers customers the ability to buy products and pay for them over time through installment payments.

This opportunity allows customers to purchase items such as smartphones, electronics, appliances, and more without having to pay the full amount upfront. EasyBuy also offers a range of financial services to help customers manage their payments and track their purchases.

How Does easybuy work?

From my experience with this platform EasyBuy works by providing customers with the option to purchase products and pay for them over time through installment payments. Here’s how it generally works:

1. Selection of Products: Customers can choose from a range of products, including smartphones, electronics, appliances, and other items available on the EasyBuy platform. In most cases you can find their agents in various phone retail stores, so you can choose your phone from the retail store.
2. Application Process: Customers can apply for EasyBuy financing, which typically involves providing some basic personal and financial information. This information is used to assess the customer’s creditworthiness and determine the terms of the financing.
3. Approval and Purchase: Once approved, customers can purchase the desired products through EasyBuy’s financing option. The product will be delivered to the customer after the initial down payment.
4. Installment Payments: Customers will then make regular installment payments over a specified period (e.g., weekly or monthly) until the total cost of the product is fully paid.
5. Access to Additional Services: EasyBuy may also offer additional financial services to help customers manage their payments, such as tracking purchases, accessing customer support, and handling any issues related to their purchases. And this is mostly if you are using their app or palm credit app.

Easybuy Phones and Prices list 2024– (iPhone, Tecno, etc)

Coming to Easybuy Phones and Prices list in this 2024, I don’t think this post will contain all the list of phones available in Nigeria and their corresponding prices both iPhone, Tecno, Samsung, Infinix and so on. But I will give you easybuy format of calculating prices which you can regularly use.

Base Price: This is the manufacturer’s suggested retail price (MSRP) of the phone, which you can find on other online platforms or stores.

Markup: Easybuy adds a percentage markup to the base price to cover their operational costs, profit, and the interest they charge on the loan. This markup can vary depending on the phone model, loan duration, and customer profile. It’s generally higher than the markup other retailers use because Easybuy is offering a financing option.

And Easybuy markup price is always between 20% to 30%, as this generally depends on the payment period. The shorter the lesser markup you have to pay.

Calculating the price of easybuy Phones like Tecno Camon 19 which its base price is 340,000 Naira. If markup up price should be 30%, that is if you are paying within 6 months. Then you have to pay a total of 455,000 naira ( I.e 105,000 markup plus 350,000 base price ).

Aside from the markup prices, you have to know that there might be other charges added to the final price, such as Late payment fees: If you miss a payment, you’ll be charged a penalty.

Advantages of getting phones from Easybuy

1. Accessible Financing: EasyBuy allows customers to purchase a phone without having to pay the full amount upfront, making it more accessible to individuals who may not have the financial means to make a one-time payment.
2. Flexibility in Payment: Customers can pay for the phone in installments over a specified period, which can help spread out the cost and make it more manageable for budgeting purposes.
3. Convenience: EasyBuy offers an easy and straightforward process for purchasing a phone, including online application and approval, as well as convenient payment options.
4. Faster Acquisition: By using EasyBuy, customers can acquire a phone quickly without having to wait until they have saved up enough money to purchase it outright.
5. Additional Services: EasyBuy may offer additional services such as customer support, tracking purchases, and potential benefits for repeat customers.

Disadvantages of using EasyBuy to purchase a phone:

1. Higher Overall Cost: Purchasing a phone through EasyBuy with installment payments may result in a higher total cost due to interest charges and administrative fees.
2. Creditworthiness Requirements: Customers need to meet certain creditworthiness criteria to be approved for financing through EasyBuy, which may restrict access for some individuals.
3. Potential Risk of Debt: Customers need to be cautious about taking on debt through installment payments, as failure to make payments on time could lead to additional costs and financial stress.
4. Limited Product Range: EasyBuy may have a limited selection of phone models available for purchase, which could restrict choice for customers looking for specific features or brands.
5. Ownership Transfer: Until the full payment is made, the ownership of the phone may remain with EasyBuy, which may limit the customer’s ability to make alterations or sell the phone before fully owning it.

Conclusion

I believe this post about Easybuy Phones and Prices list 2024– (iPhone, Tecno, etc) must have opened your eyes more about Easybuy. Compare their advantages and disadvantages above to make your choice before getting phone through them.

Recommended: Get money with Palmpay Flexi

Frequently asked questions about Easybuy phones

How does the EasyBuy financing process work for purchasing a phone?

The EasyBuy financing process for purchasing a phone involves selecting the desired phone model from the available options, applying for phone financing through EasyBuy, making an initial down payment, receiving the phone upon approval, and then making regular installment payments over a specified period until the total cost of the phone is paid off.

What are the qualifications and requirements for applying for phone financing through EasyBuy?

To apply for phone financing through EasyBuy, you typically need to meet certain requirements which may include providing identification documents, proof of income, and other personal and financial information. The qualifications and requirements may vary based on individual creditworthiness and EasyBuy’s policies.

What happens if I miss a payment on my EasyBuy phone financing?

If you miss a payment on your EasyBuy phone financing, it may result in late fees or penalties. It’s essential to contact EasyBuy customer support as soon as possible to discuss your situation and explore potential solutions to avoid any negative implications or disruptions to your financing plan.

Can I choose any phone model or brand, or are there limitations to the available options?

The availability of phone models and brands may vary on the EasyBuy platform. While there may be limitations to the available options, EasyBuy offers a range of popular phone brands and models for customers to choose from based on their preferences and budget.

Are there any additional fees or charges associated with purchasing a phone through EasyBuy’s financing program?

Additional fees or charges associated with purchasing a phone through EasyBuy’s financing program may include late payment fees, and other potential costs. It’s essential to review the terms and conditions of the financing agreement provided by EasyBuy to understand the full cost associated with purchasing a phone through their program.