Industry experts agree that the average lifespan for a couch is between seven and fifteen years. You may have noticed the incessant creaking, uncomfortable sinking, or fraying every time you sit on your couch, indicating that you might need a new sofa. Most homeowners become extremely worried about the final cost of the replacement.
Think Zero Down Furniture Leasing
With over four three million Americans having a bad credit rating, it may be hard to approach traditional lenders to finance transactions for a new couch. Zero down furniture leasing provides an attractive alternative for consumers that wish to acquire new pieces but have low FICO scores.
Zero down furniture leasing means that you do not have to pay any down payments, rolling over the final cost to monthly lease payments. Deferring all upfront costs may make the furniture purchase more affordable.
4 Things to Keep in Mind When Opting for Flexible Lease Purchase Programs
Homeowners wishing to furnish their homes with a new sofa may have to conduct the right due diligence. As a savvy consumer, here are five tips for working with zero down furniture leasing.
1. Research the Furniture Financing Provider
You may need to work with a reputable rent-to-own furniture provider to ensure that you do not lose out on your item before completing your payments. You may need to check the reputation of the vendor providing the furniture financing plan. What do past clients and customers say about their services? A quick check online can help you read through the various reviews, comments, and testimonials about their leasing programs.
2. Have an Accurate Projection of Your Finances
Zero down furniture leasing programs are perfect for consumers without a good credit score but who would love to build their credit history. You may need to analyze your financial situation and budget effectively. You may need to establish that you can afford to make the monthly payments with your current income structure. Having an accurate representation of your finances can help you find a budget-friendly furniture financing program for your new sofa purchase.
3. Read Through the Fine Print
Most consumers often scroll through the terms and conditions page. Skimming through the fine print can set you up for an expensive purchase. Ensure that the agreed payment plans are correctly reflected on the contract before signing. The zero-furniture lease provider should include the responsibilities of both parties and the measures to undertake if either party breaches the contract. Taking the time to read through every line may help you ensure that there are no loopholes that may come to bite you off later on.
4. Provide the Correct Information
It can be tempting to embellish your financial situation, hoping to get favorable terms from the zero down furniture leasing provider. However, providing scarce or incorrect information may delay your application process. Having the right documents when requested can smoothen the application process.
Furniture buying and home furnishing can become prohibitively expensive, especially for consumers with low credit scores. A zero down furniture leasing program is an attractive alternative that can help you take your favorite couch home. To discuss the terms in our lease programs, reach out to Okinus Credit Solutions.