If you are planning on buying a new TV with TV financing program but have a bad credit record, don’t worry. You still have a chance through the various finance options. You only need to undergo a few simple steps with no credit checks to take your new TV home with you. Purchasing your TV on finance has several benefits. First of all, you have the freedom to choose the TV you want from a large pool of the best brands in the market. Some of the favorite brands include Samsung, Toshiba, Vizio, LG, Hisense, TLC, Sony, and many more. Therefore, you’re sure to get the best quality TVs in the market.
If you have bad credit and want TV Financing but you don’t know how to go about it, you’re in the right place. We’ll give you all the important information you need about the program.
Can I Get TV Financing With Bad Credit
With TV financing, your financial state is of less concern. The application process is favorable and straightforward for everyone. It takes only a few minutes to process your application and get the maximum figure you qualify for. TV financing works with you to settle on a comfortable payment plan.
However, that’s not all. Below are four important things you need to take note of before apply TV financing when bad credit;
- TV finance is great as it helps one make a larger purchase by spreading the cost in smaller payment plans. These payment plans are more affordable. They help you to manage your wages because you don’t pay the whole amount at once.
- Buying your TV on credit means that interest charges will be added to your payment plan. Be keen to note the interest to pay. It’s advisable that you avoid borrowing more than you can pay. Also, run away from lenders who charge high-interest rates.
- Missed or skipped payments accrue extra charges. Before signing on TV financing, make sure you can commit to the payment plan. Unless you want to keep on losing funds on missed payments.
- TV financing gives you the advantage of buying quality brands. Paying a lump sum for your TV can hinder buying the best quality when your payment is divided into instalments.
Best 5 Ways To Get TV Financing With Bad Credit Score
It might be difficult to get a favorable financing rate when hit by bad credit. However, there are suitable options you can consider to buy a TV on finance. Below are some of the top options you can choose to buy your dream TV.
1. Buying your TV in cash
The first and best way of buying a new TV set when hit by bad credits is in cash. If you have enough cash, this is the easiest way of purchasing a new TV without going through credit checks.
Moreover, you can pay half the total cost of the TV and promise a good payment plan for the other money. This way, you will be eligible for a better financing plan without affecting your credits.
2. Using down payment method
With this method, you give a down payment for the TV of your choice. Then you continue making smaller payments until you pay up the whole amount.
Though this may take you weeks or months to complete the payment, it’s the most favorable.
If none of the above plans suits your state, there is still more that you can do for TV financing when faced with bad credit. Below are methods you can use for TV financing with bad credit without making a down payment;
3. Credit cards
Credit cards have increasingly become handy in today’s purchase errands. Their availability makes them suitable for TV financing. But, when you are in a credit crisis, your credit card limits may be lower. Thus, buying a quality TV may be impossible. Most credit cards offer an average limit of $500. Below are some of the best credit cards available for bad credits;
- Total visa card
- Fast Access visa card
- Milestone visa card which has a choice of card image at zero extra cost
To be on the safe side, always pay your credit card balances on time. It helps you to build your credit score in a positive trend. Making late credit card payments continue to reduce your credit score.
4. Personal loans
Personal loans are preferred because of their lower interest rates compared to credit cards. These rates make them more favorable and affordable even in the future. The minimum amount of personal loans offered by lenders is $500. The maximum credit you can get is in most cases determined by your credit profile.
Most loan providers offer a maximum payment period of up to 72 months. That makes them affordable and more convenient. Some of the best personal loan providers you can get include;
- CashUSA.com
- BadCreditLoans.com
- Personalloans.com
It’s important to note that there will be an initial fee of about 3% to 5% charged by most personal loan providers. The fee is deducted from the loan before it’s dispersed to you.
5. Retailer financing
Most retail purchases are funded through the merchants’ credit cards due to their limited usability trends. Due to their limited users, it makes them attract more credit buyers. However, this is not the case for all retailer financing. Most still operate under old rent-to-identifiable models. Below are some of the best providers of retailer financing;
- Fingerhut credit account
- Amazon store card
Even if you are suffering the pinch of bad credit scores, that doesn’t exclude you from owning a quality TV set. There are several companies willing to give you a chance despite your poor credit rates.
Final Recap
Well, enjoying a cool moment watching TV is a pleasurable way to refresh your mind after a long day of work. If you wondered whether you can get one in the midst of your bad credit, you now have the answer. You can get the TV of your choice on TV financing regardless of your situation. We hope the above information has at least pointed you in the right direction.
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