Good credit can be interrupted by many major financial events: medical bills accumulating, getting behind on car loans, etc. When your credit score dips below 500 it can make getting approved for financing for purchases, like engagement rings or furniture, extremely difficult. Many people with bad credit won’t make any big purchases, which can limit their overall quality of life.
For those who don’t believe there is an end in sight, it is important to realize that there are options for bad credit financing that actually help rebuild your credit! One of the most prominent and reliable forms of bad credit financing is a flexible lease-purchase plan. This is a type of plan that allows you to lease a large purchase and pay it off over time. However, instead of using credit as a sole indicator for finance approval, a lease-purchase plan will use other factors instead.
Here are several kinds of items you can buy through a flexible purchase program:
A broken or outdated HVAC system in your home can become a liability! People with bad credit will usually wait until their heater or air conditioner is beyond repair, instead of doing regular maintenance. When you call an HVAC company, large lump sums of cash aren’t readily accessible. Those with bad credit don’t often realize that HVAC financing is actually available – often a qualifying criterion for bad credit financing is owning a home and being current on your mortgage.
Engagement Ring Financing
Don’t let bad credit keep you from buying that perfect ring for that extra special person! Many rings can cost upwards of one thousand dollars or more, which for most people requires at least full or partial engagement ring financing. Rebuilding credit by purchasing an engagement ring for your significant other can be as easy as maintaining a consistent work history: those who have worked at their jobs for at least six months can qualify for bad credit financing!
Furniture is one of the most common items new homeowners will purchase through flexible lease programs. Furniture is also the third most expensive investment anyone can make, after a house and a car. Since comfortable and safe furniture is a staple in all homes, purchasing furniture through a lease-purchase program is a great option for those who need bad credit financing. Larger items like couches and beds are perfect to purchase through flexible lease-purchase programs because you can have a brand new item quickly without a lot of hassle.
Okinus is your second chance for bad credit financing, with flexible lease-purchase options to help rebuild credit. We know that finding a reliable company can be difficult, especially when you need bad credit financing for those important purchases. Contact one of our representatives today with any questions!