Despite what you may hear, it is still very possible to obtain a home computer with bad credit. On top of that, it is very possible to obtain financing for just about any home electronic regardless of your bad credit score. The key is knowing where to look.
There are two major ways to accomplish this. You must understand though that with bad credit you will be forced to pay a higher interest rate. Below we will look at the two major ways to obtain Computer Financing and the differences between them.
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MONEY DOWN - What many lenders are doing now is this. They will finance you for 50-75% of the product value at a higher interest rate as long as you can afford to put down 25-50% up front. The Percentages are different with every lender/company so what you need to do is a little research to find out which one has a percentage that best works for you. This isn't always bad because by putting money down upfront then that means your payments will be lower over the long run and that you will pay less interest over the life of the loan.
NO MONEY DOWN - This one can get a little tricky. While you do not have to put any money down the moment you place your order, you will however have to make a number of payments before they will ship it to you. So for example if you try to obtain a bad credit loan for a computer purchase, some companies will make you pay as many as 3-6 months worth of payments before they send it to your home. Basically what is happening here is that you are still putting the same amount of money down as above, but you don't have to come up with it all at once.
An important thing to remember is that while by taking a higher interest rate to make a purchase of a computer, in the long run it will pay off by making your payments on time. This will help raise your bad credit score and save you in interest in the future.
Get more information on bad credit financing at The Bad Credit Financing Page
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