Rebuilding credit can be frustrating and overwhelming on its own but rebuilding credit when you need to make a furniture purchase can be downright daunting. It doesn’t have to be a scary process, though, and there are solutions out there to help you get financing for furniture without having excellent credit or a lot of money upfront.
Furniture Financing: How Much Can I Afford?
The first thing you need to do is figure out how much you can afford to spend. Some furniture financing companies offer convenient payment options, like scheduling your payments when you get paid. This can ensure you make payments on-time.
Figuring out how much you can afford is easy. Simply add up all your expenses for the month and subtract them from your income each month. What you have left is your monthly disposable income, and that’s what you’ll start with to figure out finance options. Knowing how much you can afford will make customer financing a lot easier and it will be good for your budget!
Rebuilding Credit: Will I Be Approved?
There are many furniture financing options available, but the most important question you will want to know is whether you will be approved or not. Over 40 million U.S. citizens have a FICO score that is less than 600. You’re not alone if your credit is a little shaky. If you’re rebuilding credit, you may want to look into bad credit financing. This will ensure you have a better chance of being approved, and it may even help build your credit in some cases. On-time payments are important, so make sure you are punctual with your payments to help with rebuilding credit.
Lease-Purchase Programs: The Right Choice
If you need furniture financing and you’re in the midst of rebuilding credit, lease-purchase programs may be right for you. They typically give you a maximum credit approval amount that you can spend, then you make payments conveniently every week, two weeks, semi-monthly, or monthly, depending on when you get paid. They are often great choices for people needing bad credit financing or zero down furniture leasing. Some companies, like Okinus, offer lease-purchase programs that don’t have an upfront cost to you. That’s a huge bonus for people rebuilding credit.
Whether you’re rebuilding credit or just looking for furniture financing, look into flexible lease-purchase programs financing for furniture. They will save you time, money, and stress!