Right now, we all are more conscious of our budgets than we were prior to the COVID-19 pandemic. Few people haven’t been affected financially in one way or another by the pandemic, some more permanently than others. For a lot of people, the pandemic has meant lost jobs or cut hours. But that doesn’t mean that they don’t need to buy the same things that they did before. We all still need to buy appliances, and we all still need to buy furniture. Additionally, certain luxuries are more personally important than others, like engagement rings. Nobody wants to miss out on these important purchases just because their budgets have changed. Unfortunately, this has led to a lot of people spending even more with their credit cards, and putting themselves into unmanageable debt; Americans collectively hold about $1 trillion in credit card debt, and this can significantly affect their credit histories and abilities to secure traditional financing.
Fortunately, there is an alternative available. Why not consider early payment options rather than breaking your budget buying the things that you need in full outright? These options are available for people with good credit and bad and come with a lot of different advantages. Let’s delve into some of them below.
1. Availability
Early payment options are often attached to lease to own programs. These programs can be applied to a wide variety of different expensive purchases, though you’ll most often see rent to own furniture and appliances. The reality is that having the ability to not only finance these big purchases through rent to own programs but to make early payments when possible, ultimately speeding along the process, can be a great relief for people.
Typically, lease to own programs differ from other financing programs in that they often don’t involve interest, and they allow buyers to simply make payments until they have paid off their purchases in full. This allows them to break up what would be overly expensive purchases into affordable monthly payments. The fact that early payment options can be applied to so many different purchases and types of financing is hugely beneficial to people who are operating on limited budgets, or with bad credit histories.
2. Credit Building
One of the reasons why lots of people decide to consider early payment options is that these options are great ways of rebuilding credit. It’s all too easy to go off the rails in terms of your credit history, with a lot of us creating credit issues that we never expected to deal with in the first place. Bad credit can keep you from being able to buy a house or even a car and can set you up for failure in a variety of different ways.
But if you make not only on time but early payments on big purchases, you’ll not only be able to take care of your payments more efficiently but prove that you are credit-worthy. Instead of opening up a new credit card to rebuild your credit, why not work with flexible lease-purchase programs in order to set up payment plans for items that you need either way?
3. Discounts
When you choose early payment options, you often are actually given access to discounts that you otherwise would not be able to benefit from. This in itself is a major benefit of taking advantage of early payment options. If you’re working on a limited budget, as many people are right now, you may be hesitant to commit to big purchases like appliances or furniture. But being able to take any kinds of discounts on your purchases can be hugely beneficial in the long term, and make what you want more accessible.
Looking for early payment options is an important part of shopping intelligently. You should always think about the ways in which you can save money, and early payments not only allow you to save money but to rebuild your credit as well. In the long term, you could ultimately have a stronger financial portfolio available if you take advantage of these offers, making them all the more tempting.
