Appliances can be costly, depending on the features they come with. When most people are renovating their homes or have just moved into a new place, they want to get all sorts of appliances. But the price associated with this equipment can represent a major burden. The good news is that financing for appliances is available through a variety of means. Leasing appliances may be a particularly appealing option due to the following advantages.
Some of us simply don’t have the means to purchase certain appliances upfront, particularly if you’re looking to replace a larger piece of equipment like a washing machine or AC unit. Leasing your appliances gives you a more flexible payment plan. You can easily make smaller payments by opting for a longer rental term. This can provide greater flexibility and increased access to the appliances you really need.
Improve Your Credit Score
When you buy an appliance, you either pay the amount upfront or opt for financing for appliances. If you opt for the latter, you can break down the cost into monthly payments using your credit card or a loan. While some people assume this is the best option, this may end up affecting your credit score if the payments or interest are too high. Considering that about 157 million Americans are in credit card debt, you may be looking for an alternate solution. When you lease an appliance, you can still break the cost into monthly payments and not worry that it will lower your credit score if you take a loan. In fact, you can actually improve your credit score over time through this method. Paying on time and in full can help you get your credit back on track.
Access to High-Quality Products
The higher the quality, the more you will probably pay for your appliances. High-quality appliances come with better features and will last you a long time. But you may feel like you’re being forced to settle for a more basic (or even a second-hand) product if you’re on a budget. Conversely, you can gain access to higher quality products when you enter a lease-to-own program. Ultimately, this can improve your quality of life without forcing you to sacrifice financial freedom.
Flexible Payment Plan
Lease-to-own companies can easily accommodate a payment plan that works for you. You can opt for longer or shorter rental terms depending on the income you are getting. Additionally, if you get a good amount of money, you can negotiate for an early payout and be done with your monthly payments. In this way, you’ll have more control over your finances and can choose the right plan that works for your family.
Appliance leasing is a good alternative to traditional financing for appliances, especially if you have poor credit. With leasing, you enjoy flexible payment plans as well as high-quality products. For more information on our programs, please contact Okinus today.