To understand what bad credit is, you should know what a credit score is, first. One of the critical things that lenders look out for when issuing a loan is the credit score of the loan. Basically, the credit score is a three-digit number ranging between 300 and 850. This number is normally based on the information in your credit report. Any score that is below 670 is normally deemed as bad credit. With bad credit, it might be difficult for you to get the finance a laptop that you want from your financial ender. Besides this, if you happen to get a loan, you might be charged high-interest rates in the long run.
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Benefits Of Finance When Buying A Laptop?
Sometimes, you might not have enough money in your account to buy a new laptop. In this case, you might need financing so that you can pay later and get the new laptop immediately. If you consider laptop financing, you will be paying for the laptop’s total cost in installments. Once you finish paying all the necessary installments, you will now fully own the laptop. This kind of arrangement can be likened to leasing the laptop for some time and later own it.
Besides this, your old laptop might get faulty or stolen, and you badly need to have a laptop so that you can carry on with your studies or even do business. Since such eventualities might occur when you least expect, you might need laptop financing so that you can get a new laptop on the go, with the hope of getting repaying the installments in a timely manner.
Finally, laptop financing allows you to get the laptop of your dreams. This is usually when you need to upgrade your old laptop and use new features that come with a modern laptop. Therefore, you will have the chance to choose the laptop of your dream, get it right away, and later pay for it in pocket-friendly installments.
11 Best Laptop Finance Options With Bad Credit
You should not suffer simply because you have bad credit. The good news is that laptop finance allows you to get a laptop on the go and pay later even when you have bad credit. Some of the best laptop financing ways include the following:
1. MoneyMutual
As we speak, you can get a personal loan through MoneyMutual. Here you will get a short term loan of up to $2500.The good news is that funds will be available within a period of 24 hours. When it comes to the application process, you can be sure that it is simple and can be done online. Within 5 minutes, you will be done. Since over 2 million customers trust it, it is ideal when it comes to laptop finance even with bad credit.
2. CashUSA.com
With CashUSA.com, you will be eligible to get loans from $500 to $10000. Even if you have bad credit, you can be sure that you will get finance for a laptop and other finance options. Once you apply for a loan, you will get the approval decision within minutes.
Apart from this, you will get funds directly to your bank account and can use this loan for any purpose, including financing your laptop. It is important to note that the interest rates here range from 5.99% to 35.99% and you will have up to 72 months to clear the loan.
3. BillsHappen
If you choose BillsHappen to finance your laptop, you can be sure that you will get loans up to $5000. By just submitting one form, you will be able to get multiple options. Regardless of your credit status, you can trust that you will get a loan to finance your laptop.
When applying for a loan, you need to have a valid bank account and SSN. The interest rates here vary, and the loan term differs as well. However, you can be sure that you will get a loan fast as the approval decision takes only takes 5 minutes.
4. CashAdvance.com
If you are looking for a short-term loan of $100 to $1000, CashAdvance.com is the best option for you. Regardless of your credit status, you will be able to get a loan to finance your laptop. When it comes to the loan decision, it will only take a few minutes to get the much-needed funding.
Within 24 hours, you will have the money in your account. However, if you enjoy this laptop financing, you must have an income of $1000 and above per month and have at least 90 days on the job. Here, an interest of 200% to 2290% applies.
5. CreditLoan.com
If you choose CreditLoan.com, you can be sure that you will get loans from $250 to $5000.Once you apply for a loan, you can be sure that you will get money within 24 hours. Also, money will be deposited directly into your account.
Whether you have bad credit or not, you can be sure that you will get a loan to finance your laptop. Since more than 750000 customers have obtained loans from CreditLoan, you can be sure that you will get the much-needed money to buy a laptop.
6. PersonalLoans.com
Here, you will be able to get loans from $500 to $35000. The good news is that all credit types are welcome. Besides this, it is available in all 50 states. This makes PersonalLoans to be an ideal option for many people out there.
When it comes to the loan decision, you can be sure that you will get fast approval and will get your money within one business day. Once you get the loan, you can readily use it for any purpose. It is important to note that an interest rate of 5.99% to 35.99% applies, and you have up to 72 months to clear the loan.
7. FlexShopper
If you are looking for a place where you can lease your laptop for some time and pay later, FlexShopper should top the list of your options. At FlexShopper, you will have the luxury to make weekly or monthly payments.
You will note that the lease term can be ended after 7 to 29 days, depending on the state that you reside in. Better still, you can continue making payments until you meet the total cost of the laptop. Also, an early purchase option can even help you save more money in the long run.
8. Best Buy Progressive Leasing
At Best Buy, you will be able to lease the laptop that you have always desired at a pocket-friendly rate. You will realize that the lowest monthly payment option to lease the laptop is usually 12 months.
Better still, you can buy it after 90 days of lease payments. If you happen to get more money after starting the lease program, you can consider an early buyout, which can greatly help you save more money. This is because you will enjoy a huge discount on the remaining lease amount.
9. Montgomery Ward
You will note that Montgomery Ward basically offers to buy now and pay later kind of finance to all those who want to buy a laptop but do not have enough credit. Once you succeed in this financing, a laptop will be sent to you as soon as possible. Thereafter, you will get your first monthly bill. To be exact, this bill will be sent within 5 days of your order being shipped.
It is important to note that Montgomery Ward offers laptop financing through Wards Credit. It is generally open-ended, indicating that there is no fixed number of payments like in auto financing. Besides this, the credit is always revolving. This means that your available credit will increase or decrease based on several factors such as:
- How much you have bought
- Your credit limit
- How much you have paid
10. Amazon
As we speak, Amazon.com Store cardholders can now buy now and pay later with an array of promotional financing options. As long as you qualify for this financing, you will be able to purchase your dream laptop on the go. Thereafter, you will have to pay equal monthly payments on Amazon.com purchases at 0% APR over the grace period given.
11. Walmart
Besides Amazon, you can now buy your laptop at Walmart and pay later in the form of installments. Here, you will be offered real-time financing for all the online purchases you make, thanks to the Affirm installment financing.
Thereafter, you will pay fixed monthly payments over 3, 6, or even 12 months. This kind of flexibility makes it ideal for those who would like to buy a laptop but do not have enough credit. At Walmart, there are no hidden fees or late fees. This makes it better than its peers out there.
7 Best Online Stores That Provide Finance A Laptop With Bad Credit
Getting a decent laptop requires you to set a budget for it. This is because higher-end models can cost an arm and a leg. Since you might not have enough credit to get one, you might feel left out and result in other options. However, some retailers offer financing plans that make the once-costly laptops easy to afford. As long as you pay the installments in time, you will be good to go. Some of the best online stores that offer laptop financing include:
1. Amazon
Known to sell high-end laptop models, Amazon is one of the best stores where you can get the laptop financing you needed. Here, you can trust that you will enjoy 6 and 12-month financing as long as you have an Amazon.com Store card.
You will realize that laptops that cost over $149 are normally subjected to 6-month financing without any additional interest. Also, laptops that cost more than $599 attract zero interest if the shopper pays them off within 12 months.
Better still, you can choose 24-month financing. If you are eligible for this kind of financing, you will be charged an interest of $1.50 if the promotional balance is not paid in good time. For you to receive these promotions, you need to make timely monthly payments. However, non-promotional purchases and voided upgrades are normally subjected to a 26.99% APR.
2. Best Buy
Besides Amazon, you can get laptop financing at Best Buy. You can opt for either 6 months or 12 months financing on your laptop of choice. This applies as long as its price is over $199 or $399 respectively. If you are eligible for this financing, you will not pay any additional interest until the promotional period is over.
If you manage to pay the balance in full at the end of the financing period, you can be sure that no interest will be charged. However, if you fail to pay this balance in time, you will be charged some interest at the rate of 9 to 28.99% APR depending on your creditworthiness.
It is important to note that minimum monthly payments have to be met. However, you might have to exceed the minimum listed on your statement in order to pay off the laptop completely without incurring any interest.
3. Dell
Dell is another online store that offers special financing options to all its shoppers. Here, you will get a variety of laptop brands and series to choose from. The financing period normally ranges from 6 to 12 months for any purchases beyond $599 and $899, respectively. It is important to note that all promotional offers are available with no interest if they are paid in time to the end date.
If you fail to clear the balance within the promotion period, interest will be charged to your account from the transaction posting date. To put it into perspective, you will be charged an interest of 19.99% to 29.99% APR.
It is also important to note that Dell offers Preferred Account financing through WebBank for U.S residents. Here, you will be charged 3% of the new balance or, better still a $20 on the monthly billing statement.
4. HP
Unlike other online stores, HP has a premier upgrade program where shoppers can split the cost of a Spectre laptop or Envy laptop within a period of 24 months at 0% APR through Citizens One. However, interest and other charges might apply if you make late payments or have unpaid balances from your credit card’s issuer, based on prior agreements.
The moment your laptop is paid off during the promotional period, you will be at liberty to upgrade to a new device under similar financing terms. The program also comes with accidental damage protection, hassle-free setup and migration, and unlimited access to personalized support. It is important to note that if you choose not to renew your membership after 24 months, you will lose access to HP Premier Support and damage coverage.
5. Microsoft
The above-mentioned company joined forces with Klarna to roll out the new Surface Plus program, where shoppers are provided with 24-month financing on all the Surface products. Here, you will be charged 0% APR. However, if you make late payments, you will be charged an interest of 19.99% and a $35 fee.
As we speak, customers can now get a Surface device by paying as little as $34 per month, thanks to Surface Plus. Here, you can trust that you will enjoy personalized support and an 18-month upgrade. If you choose the enhanced Surface Plus for Business program, you can trust that you will have to dig deeper into your pocket.
It is basically financed by Lift Forward and normally provides 18, 24, or 30-month payment cycles. The good news is that you will get upgrades after 12 and 18 months. Besides this, Microsoft has a flexible Surface as a Service leasing plan and other financing programs with 3rd party providers.
6. Lenovo
This company provides laptop financing via Web Bank and Swedish payment servicer commonly known as Klarna. If you consider this financing, you will have to pay your installments in 12 months, but you will not incur any interest if you make purchases between $299 and $799.However, purchases over $799 usually attract an interest rate of 9.99% APR.
If you happen to make late payments, you will be charged up to $35, depending on your impending balance. Also, returned payments attract an interest of $35.However, if you make your payments within the promotional period, you will not be charged any additional fee. On the other hand, on-promotional purchases are usually subject to 19.99% APR.
7. Apple
Are you a fan of Apple products? You can consider applying for a MacBook financing today, and you will have the device that you have always wanted. You will note that special perks are normally included with each financing program. These include 2-year device refreshes with AppleCare support for business people and flexible cost-sharing where you can get upgrades from time to time, and finally, 3rd party products for institutions.
Like the above-mentioned online stores, Apple also offers 0% repayment for different consumers, ranging from 6 to 24 months through the Barclay Apple Rewards card. If you fail to clear the balance by the end of the promotional period, you will be charged an interest of 14.99 to 27.99 % variable APR.
Unlike other online stores, this company offers customizable financing options for your budget and technological goals. This includes trade-ins, recycling services, and delayed payment structures.
4 Best 3rd Party Financial Support Who Finance Laptop With Bad Credit
Apart from online stores, there are 3rd party companies that offer financial support to those people willing to buy laptops but who do not have enough credit. Some of these 3rd party companies include:
1. Luther Sales
You can now apply for laptop financing at Luther Sales, and you will get the laptop on the same day. With 3 Minutes easy application, you can be sure that you will not take time when applying for this financing.
The good news is that once you get approved, you will get the laptop on the same day and thereafter start making budget-friendly installment payments. Regardless of your credit status, you can be sure that you will get the financing that you need. Since no setup or membership fee is applied, you can be sure that you will enjoy a lot of conveniences even when you do not have enough credit.
Finally, you have up to 36 months to make all the necessary monthly installments, and you will be able to own your dream laptop. For you to apply, you need to be employed for at least 3 months by your current employer. There are payment plans to fit every budget. This makes this company different from its peers.
2. ElectroFinance
At ElectroFinance, you will be able to lease your dream laptop and later own it after completing all the necessary payments. Interestingly, you will get an instant decision once you apply for this financing.
Thereafter, you will take home your laptop and then start making monthly installment payments. To apply, you need to present your valid mobile number for verification. Also, you need to submit your valid SSN and driver’s license. Finally, you must have an active checking account.
3. InstantFinance24
Besides ElectroFinance and Luther sales, you can also lease a laptop and make payments later. Regardless of your credit status, you can be sure that you will get the financing you need to possess your dream laptop.
Once you apply for this financing, you can be sure that you will get instant decision about your eligibility status. If you are eligible, be sure that you take your laptop home on the same day and start making monthly installments as agreed.
To apply for this financing, you need to present your SSN OR ITIN. You also need to present your valid credit card or debit card. A government-issued photo ID is mandatory as well. Also, you need to be 18 years of age or more. If you are approved, you will have to pay $50 administrative fee today and make the other payments later. Thereafter, you will own the product once you make clear the entire payment. Once approved, you will be able to pick your new laptop from the store, or better still, it can be shipped straight to your home.
4.Walmart
You will be able to apply for laptop financing at Walmart, thanks to Affirm, a financing alternative to credit cards. Here, you will be offered real-time financing and thereafter pay fixed monthly payments over 3, 6, or even 12 months. The good news is that zero interest is charged to qualified applicants.
To apply for Affirm, you need to enter your mobile number, name, email address, date of birth, and SSN. The company does not have minimum credit score or credit history requirements. However, there is always a soft credit check, and if you are approved, you will be able to get the laptop you ever dreamt about. Thereafter, you will start making timely monthly payments in the form of installments.
What To Consider Before Taking Finance For Laptop With Bad Credit
There are several considerations that you should make before you think about laptop financing with bad credit. Some of these considerations include:
- Check the price of the laptop you want to buy
- Understand the terms and conditions of the financier
- Check the interest rates as well as the period in which you need to make the necessary payments
- Penalties, in case of delayed payments.
- Will you get instant approval decision?
All these factors will determine the convenience you will enjoy once you consider laptop financing with bad credit. If you make a wise decision, you can be sure that you will not have any challenges, making the necessary installment payments, and so on. Generally, you will be in safe hands.
Final Thoughts
Owning a high-end laptop should no longer stress you, despite having bad credit. With the plethora of laptop financing options such as those mentioned above, you can be sure that you will own one hassle-free. All you need to know are the terms and conditions of each option to make an informed decision. Consider these ideas today, and you will not regret it.