How To Buy A Laptop With Bad Credit
Yes, it is true, you can buy a laptop with bad credit. Sure, the recession might have you reeling but your desire to own a laptop doesn't have to take a back seat.
In fact, you can finance your laptop purchase without being subject to a credit check or having to pay a high interest rate.
To get more details, check out our top 7 tips on how to buy a laptop with bad credit.
1. Ask your employer
if he can lend you a laptop computer for you to use. He may actually be happy to do so if owning a laptop will improve your productivity.
In some cases, employers have arrangements with computer suppliers who offer to sell laptops to employees on credit. Employees wouldn't have to pay interest; rather they'll only pay for their laptops at cost through monthly salary deductions.
2. Ask about in-store credit options. Some retail stores may offer this facility but be careful about the terms you accept.
Sure, the approval rates may be higher but the interest rates for these kind of offers are quite high.
Furthermore, you can expect that the store cards issued will only be able to be used in-store, not internationally.
3. Buy a laptop through a computer club. If you do an internet search, you'll find several computer clubs offering chances for you buy a laptop with low weekly or monthly payments.
If you make your payments with no problems, that computer club may report your standing to credit agencies, which in turn will improve your credit rating.
Make sure you shop around for the best deal.
Some computer clubs require that you have a checking account, be working for at least six months and have a certain monthly household income.
However, your laptop would be shipped to you within a reasonable time frame of your making
your initial deposit.
Other computer clubs may not be so stringent in that you won't need to have a job. However, you will only get your laptop after the majority of down payments are made.
This computer club offers you a midsize laptop with very reasonable down payments and no proof of income.
4. Get a laptop on layaway.
This is not the fastest solution. However, it is another zero interest rate option available to you regardless of your credit history.
How a layaway program works is that the retailer puts aside the laptop your are interested in and you would then make payments on it until it is fully paid off. Then and only then would you get the laptop.
5. Get a cheap loan through your credit union or bank. Credit unions won't throw financial prudence out the window but they are excellent sources for small, low interest loans.
If you have a good savings history with a credit union, they might look very favorably on giving you a loan to purchase a laptop.
6. Check with rent-to-own retailers. They offer merchandise to customers with poor credit.
See what kind of laptops they offer and decide on the one that best suits you. You will need to complete an application showing proof of income and make the required down payment if you are approved.
7. Buy a netbook. Yes, this will entail cash upfront but you might find going this route much cheaper in long run than going the financing route.
If you are a computer user with only basic needs, owning a netbook is a cheap way to stay connected. Prices can start as low as $299.
To conclude, the decision to buy a laptop with bad credit doesn't mean that you have to pay over the odds. Just weigh your options carefully, ask questions when you are not certain about the credit terms and shop wisely.