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Purchase on installment at Ikea

Buying kitchens and furniture on installment is offered by certain furniture stores as an extra service to their customer because it often involves high amounts. Retail chain Ikea has had this extra payment service for a number of years. The so-called Ikea payment plan and an Ikea payment card.

High interest rates at Ikea

This extra service turned out to be an expensive service because customers paid an interest for this payment in installments of 13%. A high interest rate if you compare it with our interest rates from 3.5% for a personal loan or revolving credit. Ikea has stopped offering spread and post-payment for its products.

Taking out a loan: cheaper alternative

Installment buying is an expensive form of financing. Taking out a loan is a cheaper alternative. A new kitchen or new furniture are expensive purchases that often cannot be financed through your checking account. Taking out a personal loan at a fixed interest and term or a revolving credit with a flexible interest rate are suitable forms of financing for these loan purposes.

Installment purchase

Installment buying sounds attractive; you buy now, receive your product and pay later (and / or in installments). Almost too good to be true and it often is. You are expensive because in most cases the selling party will pass on the maximum (high) interest rate to you, sometimes up to 14%.

Check out our Installment purchase page or our page about borrowing money online (alternative to installment purchase) for more information.

Current interest rates

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