Importadora
Monge Celebrates 35th Anniversary
The Importadora Monge, one of the largest
retail chain of appliances, electronics and
home furnishings is celebrating its 35th
anniversary and is offering special pricing
and easy finance plans for customers. In
addition, it has added the sale of motos to
its merchandise list.
In effect, with Monge's easy and instant
credit, customers can walk into any store
and ride home on brand new scooter or
motorcycle, with no down payment.
The retail chain has been successful in
their marketing using instant credit, no
money down and no co-signer to sell its
merchandise, offering easy, low payments
every two weeks, to suit customer needs.
Of course, the success of the chain is in
the financing, where interest rates can be
higher than 30% or 40% per year, offering
terms of 2, 3 and in some cases 5 years. Not
a bad deal for the retailer.
However, it is also a good deal for many,
because they can take home a 42 inch plasma
or LCD television, a DVD, a stove, a
refrigerator, or a dining and living room
set, all for a few colones a day and without
any cash up front, enabling a purchase that
otherwise would not be within reach.
In the case of the scooter, for example,
Monge is offering it in all its 19 stores in
the country for ’22.300 every weeks. The
advertising does not spell out the price of
the item, nor the term, just the twice a
month payment, which coincides with pay day.
Of course, at the time of the purchase all
is spelled out: the total cost of the item
before financing, the total cost with
financing, the monthly payments and the
number of installments. But, by the time the
deal is inked, the sale is closed on the
sole fact of the affordability of the
payment installment.
Other "importadoras" also offer a similar
instant and easy financing system.
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Importadora
Monge is offering this scooter for only a
payment of ’22.300, every two weeks,
with instant credit and without a deposit or
co-signer. The key success of the retailer
is the low payment installment and not the
final price of the item. |
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